Millionaires & Billionaires Billionaires

  • ABUJA, Sept 30- Nigeria's Dangote Cement has turned to locally-mined coal to fire its cement plants because of gas shortages due to militant attacks on Nigerian facilities and to lower its production costs. BUA Group, said it is also switching one of its plants in northern Nigeria to run on coal to fire its kiln to address fuel shortages. But gas shortages have...

  • Jesse Cohn, Elliott Management

    Elliott Management said it bought 8.1 percent stake in Mentor Graphics, calling on the company to pursue "strategic opportunities."

  • Dan Och

    Och-Ziff Capital Management will pay $412 million to resolve U.S. probes into the hedge fund's role in bribing officials in several African countries.

  • *Elliott's stake comes months after Carl Icahn exited investment. Elliott's broad range of investments across the tech industry are overseen by portfolio manager Jesse Cohn, who also leads its private equity investing arm, Evergreen, based in Menlo Park, California. In June, it partnered with Francisco Partners to acquire Dell Inc's software assets in a deal...

  • Sept 29- Och-Ziff Capital Management Group LLC will pay $412 million and CEO Daniel Och will pay $2.17 million to resolve U.S. probes into the hedge fund's role in bribing officials in several African countries, U.S. authorities said on Thursday. In the first U.S. foreign bribery case against a hedge fund, Och-Ziff subsidiary OZ Africa Management GP LLC pleaded...

  • Sept 29- Activist hedge fund Elliott Management said it picked up an 8.1 percent stake in electronics hardware supplier Mentor Graphics Corp, a few months after Carl Icahn exited the company. The company's shares rose as much as 6.5 percent to $26.30 in after-market trading on Thursday. Elliott, founded by billionaire Paul Singer, said Mentor Graphics' shares...

  • BRASILIA, Sept 29- A ban on companies funding election campaigns in Brazil that was meant to clean up politics amid the worst graft scandal in decades is instead helping wealthy businessmen and candidates backed by evangelical churches to dominate major races at Sunday's city elections. "Ending corporate donations has, in fact, favored rich candidates who...

  • ABUJA, Sept 29- Nigeria's Dangote Cement has turned to locally-mined coal to power its plants in a bid to end disruptions caused by gas shortages and lower its production costs. However, gas shortages have plagued the West African nation, with militants in the oil heartland of the Niger Delta regularly disrupting Nigeria's oil and gas production.

  • BERLIN, Sept 29- Closing the gap on clear market leader Nike is the challenge facing new Adidas boss Kasper Rorsted when the Dane takes charge of the world's second biggest sportswear brand from the start of October. Ingo Speich, a fund manager at Adidas shareholder Union Investment, said he hopes Rorsted will scrutinise the Adidas product portfolio and its...

  • PITTSBURGH— The Pittsburgh Tribune-Review newspaper plans to stop its print edition Nov. 30 and offer an online-only publication in a reorganization that will also require 106 layoffs, its publisher announced Wednesday. Trib Total Media will continue publishing two daily print editions for the suburbs, the Greensburg- based Westmoreland edition of the...

  • Sept 28- Solar panel installer SolarCity Corp, which is in the process of being bought by Tesla Motors Inc, named Radford Small chief financial officer, replacing Tanguy Serra. Elon Musk is chairman of SolarCity and chairman and chief executive of Tesla. Earlier this month, SolarCity raised $305 million by selling future cash flows from a portfolio of solar...

  • MEXICO CITY, Sept 27- The Mexico unit of SolarCity Corp, the rooftop solar developer controlled by billionaire Elon Musk, aims to invest as much as $1 billion over the next five years, the company said on Tuesday. SolarCity Mexico President David Arelle told Reuters in an interview the projected outlay will depend on Mexico keeping at current levels an incentive...

  • GUADALAJARA, Mexico Sept 27- SpaceX is developing a massive rocket and capsule to transport large numbers of people and cargo to Mars with the ultimate goal of colonizing the planet, company chief and tech billionaire Elon Musk said on Tuesday. Musk outlined his plans for the Mars rocket, capable of carrying 100 passengers plus cargo per voyage, even as SpaceX is...

  • GUADALAJARA, Mexico, Sept 27- SpaceX is developing a massive rocket and capsule to transport large numbers of people and cargo to Mars with the ultimate goal of colonizing the planet, company chief and tech billionaire Elon Musk said on Tuesday. Musk outlined his plans for the Mars rocket, capable of carrying 100 passengers plus cargo per voyage, even as SpaceX is...

  • JERSEY CITY, N.J.— Donald Trump says "you don't learn that much from tax returns," a dubious assertion that has renewed attention on his refusal to release documents that could shed light on his tax rate, charitable giving and foreign business ties. Trump's Democratic rival, Hillary Clinton, was happy to seize on the issue, questioning in the first presidential...

  • GUADALAJARA, Mexico, Sept 27- SpaceX is developing a massive rocket and capsule to transport large numbers of people and cargo to Mars with the ultimate goal of colonizing the planet, company chief and tech billionaire Elon Musk said on Tuesday. Musk outlined his plans for the Mars rocket, capable of carrying 100 passengers plus cargo per voyage, even as SpaceX is...

  • CHICAGO, Sept 27- Caesars Entertainment Corp said on Tuesday it has struck a crucial $5 billion deal with most of its casino operating unit's creditors, resolving billions of dollars in legal claims and paving the subsidiary's way out of a costly bankruptcy. The Las Vegas- based company's main operating unit, Caesars Entertainment Operating Co Inc, filed in...

  • GUADALAJARA, Mexico, Sept 27- SpaceX is developing an interplanetary rocket and capsule to transport large numbers of people and cargo to Mars with the ultimate goal of colonizing the planet, company chief and tech billionaire Elon Musk said on Tuesday. Musk outlined his plans for a massive Mars rocket, capable of carrying 100 passengers plus cargo per voyage,...

  • CHICAGO, Sept 27- Caesars Entertainment Corp said on Tuesday it has struck a crucial $5 billion deal with most of its casino operating unit's creditors, resolving billions of dollars in legal claims and paving the subsidiary's way out of a costly bankruptcy. The Las Vegas- based company's main operating unit, Caesars Entertainment Operating Co Inc, filed in...

  • The Las Vegas- based company's main operating unit, Caesars Entertainment Operating Co Inc, filed for bankruptcy in January 2015. Under the agreement, which still needs approval from the U. S Bankruptcy Court in Chicago, first-lien bank lenders will recover roughly 115 cents on the dollar, about 1 cent less than previously agreed upon. Junior creditors, who had...