Buffett pays £4bn for NV Energy

Veteran investor Warren Buffett last night announced the purchase of Las Vegas electricity producer NV Energy for $5.6bn (£3.7bn). His Berkshire Hathaway conglomerate will make the purchase through its subsidiary MidAmerican Energy and take control of a utility that serves the party city and its power-hungry casinos. “We are pleased to make a long-term investment in Nevada’s economy,” Buffett said last night.