Warren Buffett-led Berkshire Hathaway posts record $189B in cash reserves

May 4 (UPI) -- Investor Warren Buffett's Berkshire Hathaway on Saturday reported first-quarter earnings of $11.2 billion and revealed it is now holding a record-high total $189 billion in cash reserves. The cash reserves are up from $167.6 billion during the fourth quarter last year and are reflective of an inability to find suitable business targets for major corporate acquisitions this year, the company reported in its earnings statement released during the annual shareholders meeting in Omaha, Neb. The $11.2 …