Citigroup (C: 25.20, -0.54, -2.09%) has blocked investors from withdrawing from one of its more sickly hedge funds in an effort to keep it afloat, The Wall Street Journal reported. CSO Partners, a fund invested heavily in corporate debt, put a lock on its assets after investors tried to pull nearly a third of the fund's $500 million.
Berkshire Hathaway (BRK.A: 142601.00, -389.00, -0.27%), Warren Buffett's investment firm, has acquired more than 132 million shares of Kraft Foods (KFT: 31.27, +1.96, +6.68%), according to a regulatory filing. Shares of Kraft have slipped about 15% since early December.
UBS (UBS: 33.07, -0.87, -2.56%) could be facing as much as $18 billion in additional write-downs this year, according to an analyst's note cited in article by Reuters. UBS has already recorded $18 billion in losses in 2007. The firm is still reeling from bad investments tied to subprime mortgages in the U.S.
Abercrombie & Fitch (ANF: 75.34, -0.70, -0.92%), the clothing retailer known for its risque catalogues, posted a 9% increase in fourth-quarter profits. The firm earned $216.8 million, or $2.40 a share, up from $198.2 million, or $2.14 a share, in the year-ago period. However, Abercrombie fell just shy of analysts' revenue estimates of $1.25 billion.
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