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Billionaire Warren Buffett said he is wagering on continued economic expansion and doesn’t expect a second recession.
“I would bet very heavily against that,” Buffett, chairman and chief executive officer of Berkshire Hathaway Inc., told Bloomberg Television’s Betty Liu on the “In the Loop” program after today’s data. “How fast the recovery will come, I don’t know. I see nothing that indicates any kind of a double dip.”
Berkshire Hathaway added about 3,000 jobs last year after cutting more than 20,000 positions in 2009. The Omaha, Nebraska- based company employed about 260,000 people at units from insurance and shipping to consumer goods and energy, Berkshire said in February.
Emmanuel Saujet, chief executive officer of New York-based International Cosmetics and Perfumes Inc., said his luxury cosmetics and fragrance company, which employs about 75 people in North America, is hiring to keep up with growing demand.
“We have probably expanded our full-time staff by about one-fifth since the beginning of the year,” Saujet said in a telephone interview.