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Berkshire reaps US$29b windfall from new tax law

Berkshire owns dozens of firms - from Dairy Queen to Duracell - and holds significant shares in others such as Apple and GM.

New York

BERKSHIRE Hathaway, the holding company of US billionaire investor Warren Buffett, received a stunning US$29 billion last year from the US government, thanks to a new tax law that massively lowered corporate tax rates.

In his much-anticipated annual letter to shareholders...