TCI Narrows Loss in Third Quarter

Tele-Communications Inc. said its third-quarter loss narrowed amid a wave of cost reductions and a renewed focus on its U.S. cable business. The improved performance comes as Englewood, Colo.-based TCI pushes its expansion into delivering other services besides television. The world’s largest operator of cable-television systems had a loss of $22 million, or 33 cents a share, narrower than the loss of $138 million, or 25 cents, a year ago. It was TCI’s poor showing in last year’s third quarter that prompted the company to eliminate 2,500 jobs, cut debt and concentrate more on the cable operations. . . . Berkshire Hathaway, the investment vehicle of billionaire Warren Buffett, said its third-quarter profit jumped by nearly 40%, boosted by strong growth at its GEICO auto insurance subsidiary. Omaha-based Berkshire Hathaway said its net income soared to $366.6 million, or $297 a share, from $264 million, or $218 a share, a year ago. The company said earnings from operations rose 23% to $248.1 million from $201.4 million, aided in part by “outstanding” underwriting results at GEICO. . . . Los Angeles-based Koo Koo Roo Inc. reported a net loss for the third quarter ended Sept. 30 of $8.99 million, or 38 cents per share, compared with a net loss of $2.5 million, or 17 cents, a year ago.