Buffett steers clear of controversy as 'politics' shows up at Nebraska bash

Even Warren Buffett can’t escape the political and social debates that have spilled over into the corporate world.

Tens of thousands of investors descended on Omaha, Nebraska, over the weekend to hear him speak about business and the economy at the annual meeting of Berkshire Hathaway Inc., the conglomerate he’s been building for five decades. But many also wanted to hear the famous investors take stances on some of the most-divisive issues of the day.

Shareholders asked the 87-year-old billionaire to weigh in on the Trump administration’s trade policies, guns and gender equality. But he mostly skirted controversy, sticking with beliefs that may have surprised some attendees but ultimately won over many.

“There are so many things at Berkshire that could be politicized, and he did a good job of nipping that in the bud,” said David Rolfe, chief investment officer at money manager Wedgewood Partners, which oversees about $4.2 billion and counts Berkshire among its largest holdings. “Everything these days is politicized.”

Don't have a bank account? Amazon might have a solution for you soon

Amazon.com Inc. is in talks with big banks including JPMorgan Chase & Co. about building a checking-account-like product the online retailer could offer its customers, according to people familiar with the matter.

The effort is still in its early stages and may not come to fruition, the people said. The talks with financial firms are focused on creating a product that would appeal to younger customers and those without bank accounts. Whatever its final form, the initiative wouldn’t involve Amazon becoming a bank, the people said.

If the product emerges, it would further inject Amazon into the lives of those who shop on its website and at its Whole Foods grocery stores, read on its Kindles, watch its streaming video and chat with Alexa, its digital assistant. Offering a product that is similar to an own-branded bank account could help reduce fees Amazon pays to financial firms and provide it with valuable data on customers’ income and spending habits.