Financial news on May 4th, 2013

Business and Financial news
A Credit Score That Ignores the Innocuous Mistake

Tara Siegel Bernard Your Money column; VantageScore makes decision to ignore innocuous collection actions on credit reports, as long as bill was eventually paid; change is made after finding that paid collections are less accurate at predicting future defaults than looking at unpaid collections in combination with variety of other factors. Read more..


Insurance Gains Help Push Profit at Berkshire Hathaway Up Nearly 51 %

Berkshire Hathaway reports that profits soared 51 percent in first quarter, helped by improved results in insurance and gains from investments and derivative contracts; net income increased to $4.89 billion, or $2,977 per Class A share, from $3.25 billion, or $1,966 a share; revenue rose 15 percent from year ago to $43.87 billion. Read more..

By REUTERS - The New York Times

Looser Guidelines Issued on Prostate Screening

The new guidelines were issued after the American Urology Association agreed to shift its stance on the screenings, which have often led to unnecessary cancer treatments. Read more..

By ANDREW POLLACK - The New York Times

Taxes Influence Investment Strategy, and Not Always for the Better

Paul Sullivan Wealth Matters column on how tax strategy influences investment strategy; points out that advisers say taxes should not be first concern when deciding whether to buy, or not buy, investments. Read more..

By PAUL SULLIVAN - The New York Times

See what else happened on May 4th, 2013