Round up - Moody's tumbles after Buffett cuts stake

Moody's Corp shares tumbled after Warren Buffett's Berkshire Hathaway Inc lowered its stake, a sign of waning support for the embattled credit rating company by its largest and most prominent investor, according to Reuters.

Berkshire sold 7.99 million shares of the parent of Moody's Investors Service for $217.6 million, or an average $27.25 per share, on the open market this week, according to a U.S. regulatory filing late Wednesday. The sale lowered Berkshire's stake in New York-based Moody's to 40 million shares, or 16.98 percent, from 48 million shares, or 20.37 percent. Berkshire had not bought or sold any Moody's shares since first revealing its stake in 2000. THE WORLD'S BIGGEST banks could be penalised with onerous surcharges, forcing them to set aside proportionately far more capital than smalle...