Editor's blog: Buffett betting on rail

US railways are mostly used by freight, not people. But maybe the Sage of Omaha thinks that will change.

So Warren Buffett is betting the farm on the US railroad system. His Berkshire Hathaway vehicle has just spent $27 billion dollars – his biggest single punt ever – on the purchase of Burlington Northern Santa Fe, whose origins date back to 1849. This came initially as a bit of a surpise to me, because most of the journeys I’ve made by train in the US have been pulled by steam engines on preserved tourist lines. I wouldn’t for one moment want you to get the impression that I’m a borderline autistic spectrum spotter in a cagoule, but... [CLICK HERE TO READ MORE AND COMMENT]

In today's bulletin:

Another 1,200 jobs to go at BA after worst-ever first-half
RBS losses balloon and more Brits than ever go bankrupt
Read our new blog: John Vincent's Life of Enterprise
Is Lord Alan Sugar out of touch with SMEs?
Editor's blog: Buffett betting on rail

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