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flag Berkshire Hathaway reports a significant profit drop due to writedown on Kraft Heinz stake.

flag Warren Buffett's Berkshire Hathaway reported a 59% drop in second-quarter profits to $12.37 billion, largely due to a $3.76 billion writedown on its Kraft Heinz investment. flag Despite the writedown, operating earnings were only slightly down at $11.16 billion. flag Most of Berkshire's businesses, including insurers and railroads, performed well amid economic uncertainty. flag Kraft Heinz, facing challenges from shifting consumer preferences, is exploring strategic options, potentially including spinning off parts of its portfolio.

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