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Millionaires & Billionaires Billionaires

  • MILAN, July 28- Telecom Italia named Vivendi's Amos Genish as its general manager for operations on Friday as the French media giant tightened its grip on the Italian phone group, where it is the largest shareholder. The appointment comes after Telecom Italia parted ways with Chief Executive Flavio Cattaneo, who is leaving the company after only 16 months in the...

  • *Genish to be named Telecom Italia general manager for operations. MILAN, July 28- Telecom Italia will name Vivendi's Amos Genish as its general manager on Friday as the French media giant tightens its grip on the Italian phone group, where it is the largest shareholder. The appointment comes after Telecom Italia parted ways with Chief Executive Flavio Cattaneo,...

  • Jeff Bezos was briefly the world's richest person

    Jeff Bezos was briefly the world's richest person on Thursday.

  • FREMONT, Calif.— For Tesla, everything is riding on the Model 3.. Its $35,000 starting price— half the cost of Tesla's previous models— and 215- mile range could bring hundreds of thousands of customers into the automaker's fold, taking it from a niche luxury brand to the mainstream. Limits on the $7,500 U.S. tax credit for electric cars could also hurt demand.

  • NEW YORK, July 27- A U.S. jury on Thursday found Macau billionaire Ng Lap Seng guilty on charges he bribed two U.N. ambassadors to help him build a multibillion-dollar conference center. "In his unbridled pursuit of even greater personal fortune, billionaire Ng Lap Seng corrupted the highest levels of the United Nations," Acting U.S. Prosecutors accused Ng of paying...

  • NEW YORK— The Latest on the bribery conviction of a Chinese billionaire in a United Nations scandal:. The United Nations says it's considering what do following the New York bribery conviction of a Chinese billionaire who wanted to build a U.N. center in Macau. A Chinese billionaire who wanted to build a United Nations center in Macau has been convicted at his New...

  • NEW YORK, July 27- A U.S. jury on Thursday found Macau billionaire Ng Lap Seng guilty on charges he bribed two United Nations ambassadors to help him build a multibillion-dollar conference center. "In his unbridled pursuit of even greater personal fortune, billionaire Ng Lap Seng corrupted the highest levels of the United Nations," Acting U.S.

  • The world's largest online retailer posted second-quarter revenue of $38 billion, up 25 percent from a year earlier. Yet Seattle- based Amazon posted a 77 percent drop in quarterly income, and even said it could lose up to $400 million in operating profit during the current quarter. The company had earned 40 cents per share instead of $1.42 as analysts had...

  • NEW YORK, July 27- A U.S. jury on Thursday found Macau billionaire Ng Lap Seng guilty on charges he bribed two United Nations ambassadors to help him build a multibillion-dollar conference center. Ng, 69, was convicted on all six counts he faced, including bribery, money laundering and corruption, in the U.S. District Court in Manhattan. Prosecutors accused Ng of...

  • NEW YORK, July 27- A U.S. jury on Thursday found Macau billionaire Ng Lap Seng guilty on charges he bribed two United Nations ambassadors to help him build a multibillion-dollar conference center. Jurors in the U.S. District Court in Manhattan needed less than a day to deliberate before reaching their verdict, following a four-week trial. Prosecutors said Ng...

  • NEW YORK— A Chinese billionaire who wanted to build a United Nations center in Macau was convicted on Thursday of paying more than $1.7 million in bribes to U.N. ambassadors to get it done. The verdict was returned after a day of deliberations in Manhattan federal court against Ng Lap Seng, one of China's richest men. District Judge Vernon S. Broderick tightened...

  • July 27- Billionaire investor William Ackman is buying a large stake in Automatic Data Processing Inc, two people familiar with the matter said on Thursday, a move that sent the U.S. payroll company's stock up 16.5 percent to a record high. His hedge fund Pershing Square Capital Management has been building a position in ADP using money raised recently for a new...

  • July 27- Amazon.com Inc reported a 77 percent slump in quarterly profit as the company invests heavily in areas such as video content and in fast-growing economies such as India. The shares touched a record high of $1,083.31 in regular trading, helping Chief Executive Jeff Bezos unseat fellow tech billionaire Bill Gates to become the world's richest person,...

  • July 27- Billionaire investor William Ackman is buying a large stake in Automatic Data Processing Inc, two people familiar with the matter said on Thursday, a move that sent the U.S. payroll company's stock up 16.5 percent to a record high. His hedge fund Pershing Square Capital Management has been building a position in ADP using money raised recently for a new...

  • NEW YORK, July 27- CVR Refining racked up its highest-ever bill to meet U.S. biofuel standards during the second quarter, putting it on track to pay a record amount in 2017, the company said in an earnings call on Thursday. The refiner, which is majority-held by billionaire investor Carl Icahn, said it paid $106 million to meet the U.S. biofuel regulations in the...

  • Billionaire investor calls out 'questionable' SoftBank fund fueling possible tech bubble

    Marks says the new fund is emblematic of an overheated market.

  • LONDON— Richard Branson is selling his majority stake in Virgin Atlantic. The billionaire entrepreneur's Virgin group announced Thursday that he was selling a 31 percent stake to Air France-KLM for 220 million pounds. Meanwhile, Delta and China Eastern will take a 10 percent stake each in Air France-KLM by buying shares in a 751 million euro capital increase.

  • July 27- Billionaire investor Bill Ackman's Pershing Square Capital Management has built a stake in business outsourcing company Automatic Data Processing Inc, Bloomberg reported on Thursday. ADP's shares rose as much as 12.3 percent to a record high of $118.96. Ackman has already bought shares in ADP and could acquire more through the new funds he filed...

  • NEW YORK, July 27- Famed Las Vegas sports gambler William "Billy" Walters was sentenced on Thursday to five years in prison, following his April conviction in one of the highest profile U.S. insider trading trials in years. District Judge Kevin Castel in Manhattan pronounced the sentence. The case has drawn more attention because of Walters' dealings with...

  • Here’s how Amazon stock made Jeff Bezos the world’s richest man

    Surging Amazon stock has pushed Jeff Bezos' net worth over $90 billion. Here’s a look back at its rapid rise.