Business News

May 16, 2012
Originally published on May 16, 2012 7:18 am

Transcript

STEVE INSKEEP, HOST:

NPR's business news starts with a sign of confidence in the U.S. auto industry.

(SOUNDBITE OF MUSIC)

INSKEEP: Berkshire Hathaway has bought 10 million shares of General Motors. The company owned by the billionaire investor Warren Buffett spent just over $200 million for that stake in GM. It is the first time Berkshire has invested in an American automaker.

The move came after GM announced rising first-quarter sales and revenues, all at a company that was on federal life support a few years ago. Transcript provided by NPR, Copyright National Public Radio.