NU Online News Service, Aug. 6, 11:46 a.m. EDT

Second-quarter profit at Warren Buffett's Berkshire Hathaway Inc. fell about 9 percent on derivative losses, while “insignificant” catastrophe losses restored positive underwriting result in the conglomerate's insurance operations.

Berkshire says second-quarter net income was about $3.12 billion, compared to $3.42 billion during the same time in 2011, due to derivative losses of $693 million.

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