Millionaires & Billionaires Billionaires

  • BOSTON, Aug 26- Billionaire investor William Ackman said on Friday that Jordan Rubin, who had worked closely on Pershing Square Capital Management's controversial investment in battered drug maker Valeant Pharmaceuticals, is leaving the hedge fund. News of Rubin's departure comes roughly three months after William Doyle, another key figure in the bet, left...

  • GameStop Corp., down $3.42 to $28.74. Autodesk Inc., up $5.17 to $68.87. Herbalife Ltd., down $1.43 to $60.50.

  • LONDON— Billionaire entrepreneur Richard Branson said Friday he thought he was going to die after flying head first off his bicycle in the British Virgin Islands. The Virgin Group boss hit a hump in the road on Virgin Gorda, one of the islands in the Caribbean, catapulting him into the road. Branson was training for September's Virgin Strive Challenge, an event in...

  • *Approached to buy Herbalife shares- Ackman. Aug 26- Herbalife Ltd's biggest critic, hedge fund manager Bill Ackman, said he had been approached to buy shares in the nutritional supplements maker from billionaire investor Carl Icahn. Ackman, who has bet more than $1 billion against Herbalife, said on CNBC that Icahn's planned stake sale would accelerate the...

  • Aug 26- Billionaire investor Carl Icahn was lately in talks to sell his stake in nutritional supplement maker Herbalife Ltd to a group that included hedge fund manager Bill Ackman, the Wall Street Journal reported. Jefferies and Herbalife were not immediately available for comment and Carl Icahn could not be immediately reached outside regular U.S. business...

  • *Studio plan will allow Hollywood to make movies in China. "We didn't have a choice, we were forced into it," Wang, whose Dalian Wanda Group controls Hollywood studio Legendary Pictures and U.S. cinema chain AMC Entertainment Holdings, told Reuters in an exclusive interview this week. Wang first turned to Time Warner, but the U.S. media giant was forced to quit China...

  • Wilbur Ross' investment firm pays $2.3M in fines

    The SEC slaps WL Ross and Company with the fine after failing to disclose how it calculates fees for some of its funds.

  • Aug 25- Struggling retailer Sears Holdings Corp posted a quarterly net loss, and the company said it accepted additional debt financing of $300 million from billionaire Chief Executive Edward Lampert's hedge fund. The company had said in April that it had obtained a $500 million loan to fund a transformation and Lampert's hedge fund, ESL Investments, had...

  • SAN FRANCISCO/ WASHINGTON, Aug 23- Tesla Motors Inc crowned itself the maker of the world's fastest production car on Tuesday, saying a new version of its Model S all-electric sedan can accelerate from 0-60 miles per hour in just 2-1/ 2 seconds. Tesla Chief Executive Elon Musk said the company will offer a larger upgraded battery pack for performance versions of...

  • MEXICO CITY, Aug 22- Debt-laden Mexican builder ICA is in final talks to bid with Ferrovial and two other partners to build a new $3.5 billion Mexico City airport terminal, four sources said, after the Spanish construction company mulled scrapping the joint bid plans. The two companies are in talks with Dragados, a unit of Spain's Grupo ACS, and GP Construccion, a...

  • NEW YORK— Founded in 2003 as a gossipy blog about Manhattan's media elite, Gawker pioneered the irreverent, snarky tone that has become ubiquitous online. From revealing Tom Cruise's Scientology recruitment video to publishing the Hulk Hogan sex tape that ultimately lead to the site's demise, Gawker posts sought to be an antidote to celebrity puff pieces and...

  • Aug 18- U.S. internet publisher Gawker Media Group Inc said on Thursday that it would shut down its news and gossip website Gawker.com next week after Univision Holdings Inc successfully bid for the internet publisher's six other websites. The decision to end Gawker.com' s 14- year run comes two days after Univision won a bankruptcy auction to acquire Gawker...

  • Aug 18- U.S. internet publisher Gawker Media Group said on Thursday that it would shut down Gawker.com next week, ending the online news and gossip website's 14- year run. The decision comes two days after Univision Holdings Inc won a bankruptcy auction to acquire Gawker for $135 million, outbidding media company Ziff Davis LLC. Gawker sought bankruptcy in June...

  • NEW YORK— Gawker.com, the brash New York website that broke new ground with its gossipy, no-holds-barred coverage of media, culture and politics, is shutting down after nearly 14 years, brought low by an unhappy, but deep-pocketed, subject. Gawker had published a video of Hogan having sex with a friend's wife; a Florida jury awarded Hogan $140 million in damages.

  • *Thousands of foreign workers laid off in construction slump. *Many not paid wages for months. QADISIYA LABOUR CAMP, Saudi Arabia, Aug 18- M igrant construction workers, abandoned in their thousands by Saudi employers in filthy desert camps during the kingdom's economic slump, say they will not accept a government offer of free flights home unless they receive...

  • MOSCOW, Aug 18- The Russian government's shock move to delay the sale of a stake in the Bashneft oil firm reflects Kremlin unease before the elections and gives Vladimir Putin's energy Tsar more time to raise money for a bid by state company Rosneft. With Russia's reserve fund forecast to run dry next year, the proceeds, though a fraction of the annual budget...

  • *VertuoLine goes to France, Dolce Gusto gets global advert. LONDON/ ZURICH/ CAPETOWN, Aug 17- Nestle is giving its instant coffee brand Nescafe and its Nespresso single-serve coffee a shot in the arm as fast-growing rivals with lean cost structures chip away at its global dominance. While its two megabrands still control nearly 23 percent of the $77 billion retail...

  • *China MofCom warns investment in Australia will be impacted. "This kind of decision is protectionist and seriously impacts the willingness of Chinese companies to invest in Australia," China Commerce Ministry spokesman Shen Danyang said at a regular news briefing in Beijing. "China hopes Australia will create a fairer and more transparent environment for...

  • *Wynn Palace most expensive Macau resort yet. *Wynn says Macau becoming "normalized". MACAU, Aug 17- U.S. casino tycoon Steve Wynn's newest pleasure palace in Macau boasts massive dancing fountains but the Chinese territory is anything but bubbly as it prepares to welcome the $4 billion resort to its struggling glitter strip next week.

  • Aug 16- Settlement talks between Viacom Inc Chief Executive Philippe Dauman and controlling shareholder Sumner Redstone have resumed after weeks of stops and starts, a source familiar with the situation told Reuters on Tuesday. A settlement would end litigation in Delaware and Massachusetts over the battle for control over 93- year-old Redstone's $40...