Posted AT 10:29 AM EDT on 28/04/08
U.S. faces a long, deep recession: Buffett
NEW YORK — Warren Buffett, the world's richest person, said on Monday the United States economy is in a recession that will be more severe than most people expect.
Mr. Buffett made his comments on CNBC television after his company, Berkshire Hathaway Inc., agreed to invest $6.5-billion in the takeover of chewing gum maker Wm Wrigley Jr. Co. by Mars Inc. in a $23-billion (U.S.) transaction.
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