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Millionaires & Billionaires Billionaires

  • *Nestle to repurchase up to $20.8 billion in shares by June 2020. LONDON/ ZURICH, June 27- Nestle plans to buy back as much as 20 billion Swiss francs worth of shares over three years, it said on Tuesday, days after U.S. activist shareholder Third Point LLC began a campaign to boost performance at the company. The New York- based hedge fund, controlled by billionaire...

  • *Nestle to repurchase up to $20.8 billion in shares by June 2020. LONDON/ ZURICH, June 27- Nestle plans to buy back as much as 20 billion Swiss francs worth of shares over three years, it said on Tuesday, days after U.S. activist shareholder Third Point LLC began a campaign to boost performance at the company. The New York- based hedge fund, controlled by billionaire...

  • *Nestle to repurchase up to $20.8 billion in shares by June 2020. ZURICH, June 27- Nestle announced plans to buy back as much as 20 billion Swiss francs worth of shares over three years, days after U.S. activist shareholder Third Point LLC began a campaign to boost performance at the company. The New York- based hedge fund, controlled by billionaire investor Daniel...

  • Billionaire Warren Buffett says 'the real problem' with the US economy is people like him

    Warren Buffett says people like him are the problem with the U.S. economy.

  • ZURICH, June 27- Nestle plans to buy back as much as 20 billion Swiss francs worth of shares by June 2020, the Swiss food giant said on Tuesday as it responds to pressure brought by U.S. activist shareholder Third Point LLC. The New York- based hedge fund, controlled by billionaire investor Daniel Loeb, disclosed a $3.5 billion stake in the company on Sunday and is...

  • TORONTO— A high-end hotel and condominium tower in Toronto will no longer bear the Trump brand name. An investment partnership recently acquired the 65- story tower from the developer and the property will no longer be managed by the Trump Organization. The company founded by President Donald Trump managed the property for Talon International, owned by...

  • ROME, June 27- He is an 80- year-old convicted criminal whose last government ended with Italy on the brink of bankruptcy- and he may well be kingmaker at the next election within a year. Matteo Renzi, leader of the ruling Democratic Party, and Beppe Grillo's anti-establishment 5- Star Movement have dominated the national scene in recent years, relegating Forza...

  • *Retailers comprise 5 of top 10 most shorted UK stocks. The risks were on full display on Tuesday when shares in Debenhams slid more than 3 percent to an eight-year low following a weak trading update and a warning on UK sales. Of the 10 most-shorted stocks in the UK, five M&S, Debenhams, Pets At Home and grocers Morrisons and Ocado are now in the retail sector, according...

  • MEXICO CITY, June 26- President Enrique Pena Nieto and industry executives praised a three-year-old overhaul of Mexico's telecommunications sector on Monday as it faces a major challenge from billionaire Carlos Slim in the Supreme Court. It would have condemned Mexico to falling behind, " Pena Nieto told hundreds of government officials and industry...

  • TORONTO, June 26- Canada's main stock index edged lower on Monday in cautious trading ahead of the end of the second quarter, as declines in the heavyweight resource and financial groups offset gains for consumer-related shares. The Toronto Stock Exchange's S&P/TSX composite index fell 3.54 points, or 0.02 percent, to 15,316.02. "No one is going to stick their...

  • June 26- New York- based hedge fund Paulson& Co on Monday reported a 6.3 percent stake in embattled Canadian drugmaker Valeant Pharmaceuticals International Inc. The disclosure comes a week after billionaire investor John Paulson, whose hedge fund firm is the biggest owner of Valeant, joined the company's board as it restructures to repay debt.

  • June 26- Billionaire Carl Icahn's investment firm, Icahn Enterprises LP, said on Monday it had entered an agreement with the former co-manager of its Sargon Portfolio, David Schechter, to fund his new private investment management business. Last year, Icahn's son, Brett Icahn, and David Schechter had said they would no longer be co-managers of the portfolio, and...

  • June 26- New York- based hedge fund Paulson& Co on Monday reported a 6.3 percent stake in Canada's Valeant Pharmaceuticals International Inc,. Paulson, who is Valeant's biggest stakeholder, had a 5.68 percent stake in the company as of March 31, according to Thomson Reuters data. Last week, billionaire investor John Paulson, joined the ailing drug company's board as...

  • June 26- New York- based hedge fund Paulson& Co on Monday reported a 6.3 percent stake in Canada's Valeant Pharmaceuticals International Inc,. Paulson, who is Valeant's biggest stakeholder, had a 5.68 percent stake in the company as of March 31, according to Thomson Reuters data. Last week, billionaire investor John Paulson, joined the ailing drug company's board as...

  • AMSTERDAM/ LONDON, June 26- When billionaire activist investor Daniel Loeb wanted to give his arguments against Nestle's performance greater credibility and heft, he turned to one of Europe's most experienced turnaround experts, Dutchman Jan Bennink. Loeb's fund, Third Point LLC, disclosed a $3.5 billion stake in the Swiss food group in a letter to its...

  • *Hedge fund takes $3.5 bln stake, pushes for change. LONDON/ NEW YORK, June 26- U.S. activist shareholder Third Point LLC has targeted Nestle by taking a $3.5 billion stake in the food maker and urging Europe's most valuable company to boost returns as demand for its products weakens. Third Point's 40 million shares- or 1.3 percent of the total- make it Nestle's...

  • NEW YORK— Jury selection began Monday in the New York criminal trial of a Chinese billionaire charged with trying to bribe United Nations diplomats to ease approval of a U.N. conference center. More than 100 prospective jurors were part of the selection process in Manhattan federal court that was to continue Tuesday. Ng is confined to a luxury Manhattan...

  • *Hedge fund takes $3.5 bln stake, pushes for change. LONDON/ NEW YORK, June 26- U.S. activist shareholder Third Point LLC has targeted Nestle by taking a $3.5 billion stake in the food maker and urging Europe's most valuable company to boost returns as demand for its products weakens. Third Point's 40 million shares-- or 1.3 percent of the total-- make it Nestle's...

  • TORONTO, June 26- Canada's main stock index fell on Monday as declines in heavyweight sectors such as energy and materials outweighed moderate gains in a number of other groups. Agnico Eagle Mines Ltd slumped 2 percent to C $62.17, while Goldcorp Inc fell 1.2 percent to C $18.07. At 10:41 a.m. ET, the Toronto Stock Exchange's S&P/TSX composite index fell 36.41...

  • LONDON, June 26- Russian billionaire Mikhail Fridman's L1 Retail has agreed to buy Britain's Holland& Barrett for 1.77 billion pounds in its first acquisition, betting on continued growth and expansion abroad for the health foods chain. L1 Retail, part of Fridman's empire that spans investments in ride-hailing firm Uber to North Sea assets, said it expected to...