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Millionaires & Billionaires Billionaires

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  • NEW YORK, March 1- Greg Abel, the 52- year-old head of Berkshire Hathaway Energy, is not unlike the company he oversees: like utilities themselves, he is reliable, hard-working- and usually in the background. Those traits could serve him well should he indeed succeed the iconic Buffett, who has headed the sprawling Berkshire Hathaway conglomerate for 50 years.

  • NEW YORK, March 1- Warren Buffett, at a news conference in Bengaluru in 2011, lavishly praised Berkshire Hathaway executive Ajit Jain for smoothly running much of the conglomerate's insurance businesses. Buffett, the billionaire chief executive officer and chairman of Berkshire, said he would also support Jain if ever he decided to seek Buffett's post.

  • NEW YORK, Feb 28- Warren Buffett told investors on Saturday that Berkshire Hathaway Inc, which he has run for 50 years, has found his successor, giving more details than he ever has about the selection. "Both the board and I believe we now have the right person to succeed me as CEO- a successor ready to assume the job the day after I die or step down," the billionaire said in...

  • NEW YORK, Feb 28- Warren Buffett, in his 50th anniversary letter to shareholders, said on Saturday that Berkshire Hathaway had finally chosen the right person to succeed him.

  • LONDON, Feb 28- John Browne, the former chief executive of BP, will take charge of a $10 billion oil and gas venture backed by Russian billionaire Mikhail Fridman to help it expand internationally through partnerships and acquisitions, the Financial Times reported. Browne told the newspaper he will be appointed executive chairman of L1 Energy on Monday, giving...

  • NEW YORK, Feb 27- Billionaire Ira Rennert and his investment firm were ordered on Friday to pay $118.2 million after being found liable for looting a magnesium company to build one of the most expensive mansions in America. A Manhattan federal jury found Rennert and Renco Group Inc liable for breach of fiduciary duty and other claims following a three-week...

  • NEW YORK, Feb 27- Billionaire Ira Rennert and his investment firm were ordered on Friday to pay more than $118 million after being found liable for looting a magnesium company to build one of the most expensive mansions in America. A Manhattan federal jury found Rennert and his Renco Group Inc liable for breach of fiduciary duty and other claims following a...

  • *Vodafone, alternative ops warn on "re-monopolisation". Germany's Deutsche Telekom and Spain's Telefonica have predicted that revenues will grow this year, while France's Orange and Norway's Telenor have promised higher future dividends, a major motivation for investors in the sector. Deutsche Telekom Chief Executive Tim Hoettges attributed the rebirth...

  • *Vodafone, alternative ops warn on "re-monopolisation". Germany's Deutsche Telekom and Spain's Telefonica have predicted that revenues will grow this year, while France's Orange and Norway's Telenor have promised higher future dividends, a major motivation for investors in the sector. Deutsche Telekom Chief Executive Tim Hoettges attributed the rebirth...

  • Forestry company J.D. Irving filed a notice with Canadian regulators this week, saying it was "vitally concerned" about how TransCanada Corp's proposed Alberta- to- New Brunswick pipeline would affect its operations. In a filing with the National Energy Board on Monday, J.D. Irving said about 170 km of the proposed pipeline route would cross its forest holdings in...

  • Forestry company J.D. Irving filed a notice with Canadian regulators this week, saying it was "vitally concerned" about how TransCanada Corp's proposed Alberta- to- New Brunswick pipeline would affect its operations. In a filing with the National Energy Board on Monday, J.D. Irving said about 170 km of the proposed pipeline route would cross its forest holdings in...

  • RIO DE JANEIRO, Feb 26- Brazilian miner Vale SA posted full-year net income of $657 million on Thursday, well below analyst forecasts, hurt by weakness in iron ore prices and in Brazil's real currency versus the dollar. Despite record production of iron ore and nickel last year, the dramatic fall in profits and cash flow is increasing pressure on Vale to sell assets...

  • HONG KONG, Feb 26- Hong Kong billionaire Li Ka- shing on Thursday said he is upbeat on the outlook for the China- controlled city, and that the biggest threat is if a Hong Kong government proposal on universal suffrage fails to get passed. Li, 86, speaking at an earnings briefing for his companies Cheung Kong Holdings Ltd and Hutchison Whampoa Ltd, also said he has no...

  • LONDON/ PARIS, Feb 25- Lazard banker Vincent Le Stradic recently took a break from his job advising Europe's top telecoms companies on deals to help little-known French start-up Sigfox raise 100 million euros. Not many of his peers would spend months working on a relatively small transaction when big fees were there for the taking from industry leaders such as...

  • Feb 25- A prominent investor in Wal-Mart Stores Inc is pushing ahead with a campaign to link a portion of executive compensation to staff motivation, a sign that the retailer's wage hike last week won't end outside pressure over employee pay and benefits. Connecticut Treasurer Denise Nappier, whose office oversees $40 million worth of Wal-Mart shares in state...

  • Former Coca-Cola executive Donald Keough dies Tuesday, 24 Feb 2015 | 3:46 PM ET

    Feb 24- Donald Keough, Coca-Cola Co's COO and president during the company's intense "cola war" days with PepsiCo Inc in the' 80 s, has died at the age of 88.. Keough, who came to Coke following the purchase of Duncan Foods in 1960, rose through the ranks and became president and chief operating officer in 1981.. Goizueta and Keough replaced the Coca-Cola formula for the...

  • LONDON, Feb 24- Assets managed by activist hedge funds have surged six-fold in the last 10 years to $120 billion, according to a study released on Tuesday, showing the rise in popularity of some of the most vocal investors. The study by the Alternative Investment Management Association found activist hedge funds on average hold a stock for about two years,...

  • LONDON, Feb 23- A billionaire lord who has restyled himself as a pollster is providing Britain with unprecedented information about battleground constituencies ahead of a national election on May 7, potentially influencing some decisive races. A self-made business tycoon who donated over 10 million pounds to the ruling Conservatives in the past, Michael...

  • WILMINGTON, Del., Feb 20- Pineapple king David Murdock heads to a Delaware court on Monday to defend his 2013 buyout of Dole Food Co Inc against shareholders who claim they were short-changed and want more cash. The union pension funds that brought the Delaware case focused on the cozy relationship between Murdock and Deutsche Bank, which are alleged to have...

  • NEW YORK, Feb 19- Elliot Management Corp. and Omega Advisors Inc. are among activist hedge funds buying stakes in North American oil and gas producers whose stock has fallen because of weaknesses exposed by the collapse of energy prices. This month Citigroup cut its crude price forecasts, saying West Texas Intermediate could go as low as $20 a barrel before...