Buffett dials up Verizon shares

Warren Buffett’s Berkshire Hathaway bought a new stake of 11m shares in Verizon Communications in the first quarter and added to its holding in Wal-Mart Stores, according to a regulatory filing last night. Berkshire, an ice cream to insurance conglomerate where Buffett is chairman and chief executive, increased its holding of Wal-Mart by 17.3 per cent to 58.1m shares. Berkshire added to stakes in other companies, including IBM.