Warren Buffett is stepping down from Kraft Heinz board

Berkshire Hathaway Chairman and CEO Warren Buffett speaks during an interview with Liz Claman on the Fox Business Network in Omaha, Neb., in this file photo. (AP)
Updated 24 February 2018
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Warren Buffett is stepping down from Kraft Heinz board

CHICAGO: Warren Buffett is stepping down from the board of directors of Kraft Heinz Co.
The Chicago-based food and beverage giant says the 87-year-old billionaire investor will retire from its board when his term ends in April as he moves to cut back on travel.
Buffett is the CEO of Berkshire Hathaway Inc., a conglomerate based in Omaha, Nebraska.
Kraft Heinz said its board will nominate Alexandre Van Damme to take Buffett’s seat. Van Damme is also a board member of Anheuser-Busch Inbev and Restaurant Brands International.


US trade negotiators to visit China for fresh round of talks

Updated 25 min 29 sec ago
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US trade negotiators to visit China for fresh round of talks

  • Washington and Beijing are battling over the final shape of a trade deal
  • American officials are demanding profound changes to Chinese industrial policy

BEIJING: US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin will visit China on March 28-29 for a fresh round of talks aimed at resolving the bruising trade war, the Chinese commerce ministry said Thursday.
After their visit, Chinese Vice Premier Liu He will head to the United States in April to continue the negotiations, ministry spokesman Gao Feng said at a press briefing.
Washington and Beijing are battling over the final shape of a trade deal, with American officials demanding profound changes to Chinese industrial policy.
President Donald Trump warned Wednesday that US tariffs on Chinese imports could remain in place for a “substantial period,” dampening hopes that an agreement would see them lifted soon.
Over the last eight months, the United States and China have slapped tariffs on more than $360 billion in two-way goods trade, weighing on the manufacturing sectors in both countries.
On Friday, China’s rubber-stamp parliament approved a foreign investment law to strengthen protections for intellectual property — a central US grievance — but critics said the bill was rammed through without sufficient time for input from businesses.