Berkshire earnings rose last quarter and CEO Greg Abel is starting to deploy Buffett’s massive cash hoard

Berkshire Hathaway reported operating earnings of $12.98 billion in the second quarter, up 16% from $11.16 billion in the prior-year period. The improvement was driven by strong performance across multiple business segments, with manufacturing, service and retailing earnings jumping 24% to $4.47 billion and Berkshire Hathaway Energy’s profit surging 27% to $891 million. The railroad division BNSF posted a 6% increase to $1.56 billion. Insurance operations represented a weaker area, with u