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Millionaires & Billionaires Billionaires

  • NEW YORK, Feb 25- Billionaire investor Warren Buffett on Saturday attacked what he saw as tricks used by U.S. companies to boost earnings and stock prices, but he defended one oft-criticized practice: share buybacks. Some critics, including BlackRock Inc Chief Executive Officer Larry Fink, think the practice of companies buying back their own shares to boost...

  • NEW YORK, Feb 25- Highlights from billionaire Warren Buffett's annual letter to Berkshire Hathaway Inc shareholders on Saturday:. Starting from scratch, America has amassed wealth totaling $90 trillion. " MARKET SYSTEM TO CONTINUE FAR INTO FUTURE "It's our market system- an economic traffic cop ably directing capital, brains and labor- that has created Americas...

  • NEW YORK, Feb 25- Billionaire Warren Buffett, whose stock picks over several decades have enriched generations of Berkshire Hathaway Inc shareholders, delivered a black eye to the investment industry on Saturday, urging ordinary investors to buy plain-vanilla index funds. Known to fans as "the Oracle of Omaha," he estimated that the search for outperformance...

  • NEW YORK, Feb 25- Billionaire Warren Buffett, whose stock picks over several decades have turned Berkshire Hathaway Inc into one of the most successful conglomerates, delivered another black eye to the investment industry on Saturday, saying investors should "stick with low-cost index funds." Buffett, whose annual letter is scrutinized by investors who...

  • NEW YORK, Feb 25- Billionaire Warren Buffett, whose stock picks over several decades have turned Berkshire Hathaway Inc into one of the most successful conglomerates, delivered another black eye to the investment management industry on Saturday, saying investors should "stick with low-cost index funds." During the financial crisis, Buffett bet a founder of the...

  • OMAHA, Neb.— Investors who wanted billionaire Warren Buffett to address the current state of the world in his annual letter to Berkshire Hathaway shareholders will likely be disappointed, but they can still take some comfort in his consistently rosy long-term outlook for the U.S. economy. Investment manager Cole Smead said he felt that Buffett spent too much of...

  • NEW YORK, Feb 25- Berkshire Hathaway Inc's gain on its investment in Apple Inc. stands at more than $1.6 billion after shares of the iPhone maker surged. The stake of 61.2 million shares was acquired last year for $6.75 billion, an average of about $110.17 apiece, according to the annual report Saturday from Berkshire, which is led by billionaire chairman Warren...

  • CALGARY, Alberta, Feb 24- Canada's energy sector has fallen out of favor with international oil majors, who are scaling back ambitions and walking away from reserves in the ground there to focus on lower-cost and higher-margin opportunities elsewhere. Billion-dollar bets on Canada's oil sands went sour this week for Exxon Mobil Corp and Conoco Phillips.

  • Husky could invest the sale proceeds in South America, Africa or Asia, the people added. Husky's offshore assets include White Rose, seen as its crown jewel in the region, as well Flemish Pass and Terra Nova. Husky could potentially sell down stakes in Terra Nova, where it has a 13 percent working interest, and Flemish Pass.

  • Husky could invest the sale proceeds in South America, Africa or Asia, the people added. Husky's offshore assets include White Rose, seen as its crown jewel in the region, as well Flemish Pass and Terra Nova. Husky could potentially sell down stakes in Terra Nova, where it has a 13 percent working interest, and Flemish Pass, but is also considering paring down...

  • TOKYO, Feb 24- Japan's Softbank Group and Taiwan's Foxconn, formally known as Hon Hai Precision Industry Co, on Friday said they would start operating a joint venture together, deepening ties between two of Asia's biggest technology firms. The move will give Foxconn 54.5 percent of one of Softbank's existing subsidiaries for $600 million and comes as both...

  • In an auction conducted by state-controlled Solar Energy Corporation of India for various wind projects totalling 1 gigawatt, five companies separately quoted a tariff of 3.46 rupees per unit to win the projects. "After solar cost reduction below 3 rupees/ unit, wind power cost down to 3.46 rupees/ unit through transparent auction," India's coal, power and...

  • The director of China's state assets regulator Xiao Yaqing said on Friday that the country should further deepen mixed-ownership and supply-side reforms, the official Shanghai Securities News reported. Reflecting rising risk appetite, China's outstanding margin loans have risen for four consecutive days to exceed 900 billion yuan, as investors appear...

  • Feb 21- Insurance giant American International Group Inc has reached a deal to sell one of its lesser-known assets: a northern Vermont ski slope. Vail Resorts Inc, a Broomfield, Colorado- based company that runs mountain resorts, has signed a $50 million agreement to buy the ski operations of Stowe Mountain Resort from AIG's real-estate business, the resort...

  • Security personnel at the Sands Casino Resort Bethlehem on Wednesday agreed to a three-year deal with Las Vegas Sands Corp., The Morning Call reported. The officers are the only union members at Las Vegas Sands, which has more than 50,000 employees worldwide at casinos in Las Vegas, Singapore and Macau. The 146- member local approved a deal that gives security...

  • DUBLIN, Feb 23- Packaging conglomerate Ardagh Group is well advanced with plans to launch an initial public offering and intends to float on the New York Stock Exchange later this quarter, chairman Paul Coulson said on Thursday. The Luxemburg- based supplier of glass and metal containers, controlled by Irish billionaire Coulson, said last year that it planned to...

  • WASHINGTON— When a summer thunderstorm knocked out power to Scott Pruitt's home three years ago, the then-attorney general of Oklahoma reached out to a lobbyist for American Electric Power. The 2013 email exchange is one of dozens reviewed by The Associated Press that underscore the cozy ties between the new head of the Environmental Protection Agency and...

  • The company said it planned to invest between $2 billion and $2.5 billion in capital expenditures ahead of the start of Model 3 production. The company has been investing heavily on production of its latest models and in its $5 billion gigafactory, which makes lithium-ion battery cells in Nevada. The company, led by billionaire entrepreneur Elon Musk, is...

  • Toll Brothers Inc., up $1.94 to $33.93. Garmin Ltd., up $3.70 to $54.15. Bristol-Myers Squibb Co., up 57 cents to $55.35.

  • Feb 22- Tesla Inc posted a smaller quarterly loss and said its mass-market Model 3 sedan was on track for volume production by September. The company's net loss attributable to common shareholders narrowed to $121.3 million, or 78 cents per share, for the fourth quarter ended Dec. 31 from $320.4 million, or $2.44 per share, a year earlier. http://bit.ly/2l9C0tI.