Millionaires & Billionaires Billionaires

More

  • MEXICO CITY/ MADRID, May 17- Mexican billionaire Carlos Slim has put two of his grandchildren on boards of his companies, a major step in the succession of one of the world's largest family business empires. Daniel Jr.' s appointment to the board of Slim-owned metals miner Minera Frisco was approved by shareholders in April 2015, according to a public filing to...

  • State lawmakers voted to keep in place some of lowest taxes on oil and gas production in the United States- a break worth $470 million in fiscal year 2015 alone. In Newcastle, 23 miles from the capital of Oklahoma City, John Cerny recently learned that the school attended by his five-year-old granddaughter, Adelynn, will open just four days a week next year.

  • LONDON, May 17- Gold edged lower on Tuesday, after better-than-expected U.S. data and gains in European stock markets which reduced the appeal of the precious metal often perceived as a refuge from riskier assets. Spot gold fell 0.1 percent to $1,272.31 per ounce by 1340 GMT, while U.S. gold futures were also down 0.1 percent at $1,273.40. "There is a little profit...

  • *Palladium lagging gains in gold, silver, platinum. LONDON, May 17- Investor appetite for palladium-backed exchange-traded funds is failing to pick up after a dismal 2015, pointing to another difficult year for the metal despite the prospect of a deepening supply deficit. "It is a big concern," Julius Baer analyst Carsten Meneke said.

  • Offices at Pandora

    Corvex Management disclosed on Monday that it owns 9.9 percent of Pandora Media and urged the company to explore a sale.

  • *U.S. inflation data due at 1230 GMT. LONDON, May 17- Gold edged down on Tuesday partly in response to gains in global stock markets which reduced the appeal of the precious metal, often perceived as a refuge from riskier assets. Spot gold fell 0.3 percent to $1,270.31 per ounce by 1006 GMT, while U.S. gold futures were down 0.2 percent at $1,272.00.

  • *George Soros buys into SPDR fund for first time in 3 yrs. U.S. gold futures were up 0.6 percent at $1,281.30 "There is more of a positive tone to rhetoric on the gold price outlook that may effect prices, but eventually it is the U.S. dollar that is the key driver," said analyst Helen Lau of Argonaut Securities in Hong Kong. However, gains were limited as Asian shares rose...

  • May 16- Corvex Management LP disclosed on Monday that it owns 9.9 percent of Pandora Media Inc and urged the internet music streaming company to explore a sale instead of pursuing a "costly and uncertain business plan." Corvex, a hedge fund by run Keith Meister, a protégé of billionaire activist investor Carl Icahn, said it had met with the company's management...

  • *Spot gold rose 0.25 percent to $1,276.70 per ounce at 0041 GMT. *Asian shares recovered from two-month lows on Tuesday after a rebound in technology giant Apple Corp and oil price gains boosted Wall Street. *MSCI's broadest index of Asia-Pacific shares outside Japan ticked up 0.1 percent, extending the recovery from its two month low set on Friday.

  • May 16- Corvex Management disclosed on Monday that it owns 9.9 percent of Pandora Media Inc and urged the internet music streaming company to explore a sale. Corvex is run by Keith Meister, a protégé of billionaire activist investor Carl Icahn, and said in the letter to Pandora's board that it had been meeting with the company's management in recent months.

  • May 16- Activist investor Carl Icahn has raised his stake in American International Group Inc by 5.2 percent, putting him in a better position to pressure the insurer to split into three independent companies. Tensions have been mounting between AIG Chief Executive Peter Hancock and Icahn over the billionaire's suggestion in October that the company should...

  • May 16- U.S. stock index futures were little changed on Monday following a bruising week that left the Dow and the S&P 500 lower for the third straight week. *Data from China over the weekend was also tepid. *However, oil prices jumped over 2 percent to their highest since October 2015 on growing Nigerian oil output disruptions and after long-time bear Goldman Sachs...

  • HONG KONG, May 16- Shanghai Fosun Pharmaceutical Co has made a non-binding proposal to buy India's Gland Pharma, which is backed by KKR and valued at up to $1.5 billion, to boost its drug manufacturing and research and development capacity. The move is also a departure from the group's strategy of largely targeting companies in developed markets and comes after...

  • SHANGHAI, May 16- Bridgewater Associates, the world's largest hedge fund with around $150 billion in assets under management, has set up an investment management unit in Shanghai, according to a Chinese government website filing, signalling that the firm is looking to expand its bets on China. Bridgewater's China unit was set up in Shanghai's Free Trade Zone on...

  • Williams has accused ETE of trying to get out of the $20 billion deal and filed a lawsuit late on Friday seeking to prevent the Dallas- based firm from terminating its takeover over a tax issue or if the deal isn't closed by a June 28 deadline. "ETE is disappointed that Williams, rather than seriously engaging in discussions regarding the existing transaction, has...

  • HOUSTON, May 13- The wave of U.S. oil and gas bankruptcies surged past 60 this week, an ominous sign that the recovery of crude prices to near $50 a barrel is too little, too late for small companies that are running out of money. On Friday, Exco Resources Inc, a Dallas- based company with a star-studded board, said it will evaluate alternatives, including a restructuring...

  • SAO PAULO, May 13- Brazil's new Agriculture Minister, agribusiness mogul Blairo Maggi, is expected to make policy in one of the world's leading commodities exporters friendlier for business, though environmentalists may still see him as a threat to the Amazon. Once known as Brazil's "soy king," Maggi entered Brazil's billionaire club in his 40 s, when he ran his...

  • The shift was evident at the annual SkyBridge Alternatives Conference in Las Vegas this week, where a group of money managers humbled by losses or meager returns acknowledged that they needed to do more to satisfy investors. "Expectations about a hedge fund manager's way of conducting business has become more demanding- and perhaps rightfully so," Kenneth...

  • KIGALI, May 13- African economies must reduce trade barriers and make it easier for people and goods to cross borders to boost growth in the face of headwinds from a commodity price drop, African officials and delegates at the World Economic Forum in Rwanda said. "As we develop the regional markets in Africa, we'll reduce the susceptibility of Africa to these...

  • The Dallas- based company, valued at about $495 million as of Thursday's close, had long-term debt of $1.32 billion on March 31, according to a regulatory filing. The company, which has reported a loss for the last five quarters in a row, has a number of big-name shareholders including billionaire investor Wilbur Ross and well-known contrarian investor Prem Watsa.