Warren Buffett steps down as Berkshire Hathaway chairman

Warren Buffett will step down as chairman of Berkshire Hathaway, less than a year after handing over the CEO reins, the company said Friday.The big picture: The "Oracle of Omaha" is 96, and his insurance-to-railroads conglomerate is moving onto a new generation, with his son Howard as chairman. This is breaking news. Check back for updates.