×

Millionaires & Billionaires Billionaires

  • Airline stocks dropped as a blizzard swept through the heavily populated northeastern United States, grounding thousands of flights. United Continental fell 4.7 percent to $66.55 while Southwest Airlines dropped 3.0 percent and American Airlines lost 2.7 percent. Oil prices slid to the lowest since late November after OPEC reported a rise in global crude...

  • Airline stocks slipped as a blizzard swept through the heavily populated northeastern United States, grounding thousands of flights. United Continental fell 4.7 percent to $66.55 while Southwest Airlines dropped 3.1 percent and American Airlines lost 2.8 percent. Oil prices slid to three-month lows after OPEC reported a rise in global crude inventories...

  • March 14- American International Group Inc's decision to remove Peter Hancock as its chief executive was to avoid a proxy battle with billionaire activist investor Carl Icahn, the Wall Street Journal reported, citing people familiar with the matter. AIG said last week that Hancock would step down, a decision he made after the insurer's poor financial...

  • *Euro Disney defends terms of Walt Disney takeover. LONDON/ PARIS, March 14- An activist hedge fund has criticised plans by Walt Disney to take full control of debt-laden Paris theme park operator Euro Disney, according to a letter seen by Reuters. Paris- based CIAM, which owns 1.4 percent of Euro Disney shares, has written to the board of the French company to object to...

  • March 14- U.S. stocks drifted lower on Tuesday as oil prices fell for the sixth straight day and investors held off from making big bets ahead of a widely expected interest rate hike. Trading volumes were light as a blizzard in the northeastern United States grounded flights and kept people indoors. Oil prices slid to three-month lows after OPEC reported a rise in...

  • *Euro Disney defends terms of Walt Disney takeover. LONDON/ PARIS, March 14- An activist hedge fund has said it objects to plans by Walt Disney to take full control of debt-laden Paris theme park operator Euro Disney, according to a letter seen by Reuters. Paris- based CIAM, which owns 1.4 percent of Euro Disney shares, has written to the board of the French company to...

  • March 14- U.S. stocks were lower on Tuesday as oil prices fell and investors focused on the Federal Reserve's policy meeting, where it is widely expected to raise interest rates. Trading volumes were light as a blizzard in the northeastern United States grounded flights and kept people indoors. Oil prices slid to three-month lows after OPEC reported a rise in...

  • TORONTO, March 14- Canada's main stock index lost ground on Tuesday as falling oil prices weighed on the country's substantial oil and gas sector and Valeant Pharmaceuticals International Inc stock plunged on the exit of an activist investor. Valeant slumped 9.3 percent to C $14.70 after billionaire investor William Ackman walked away from the struggling...

  • The central bank's statement is due at 2:00 p.m. ET on Wednesday, which will be followed by Fed Chair Janet Yellen's press conference. "Ahead of a major data point like the Fed, you typically don't see big investors move sharply in one way or the other," said Adam Sarhan, chief executive officer at 50 Park Investments in Florida. Wall Street's top banks were unanimous...

  • TORONTO, March 14- Canada's main stock index fell on Tuesday, pressured by losses for the energy group as prices of oil fell to a three-month low, while Valeant Pharmaceuticals International Inc tumbled after billionaire investor William Ackman sold his entire stake. The Toronto Stock Exchange's S&P/TSX composite index was down 85.44 points, or 0.55 percent,...

  • *Fed decision due Wednesday afternoon. March 14- U.S. stocks looked set to open marginally lower on Tuesday as investors fixed their sights on the outcome of a meeting where the Federal Reserve is widely expected to raise interest rates for the first time this year. The Fed's statement is due at 2:00 p.m. ET on Wednesday, which will be followed by Fed Chair Janet...

  • *Britain's parliament paved the way for Prime Minister Theresa May to launch divorce talks with the European Union, potentially adding a layer of uncertainty in the market. *The Fed will release a statement at 2:00 p.m. ET on Wednesday followed by a press conference by Fed Chair Janet Yellen. *Shares of Valeant plunged 13 percent to $10.56 in heavy premarket...

  • The deal will help Deezer compete better both in France and abroad with bigger rivals such as Spotify and Apple Music, while it will help Fnac-Darty, which competes with online retail giant Amazon, to improve its offering of music and video streamed online. In January 2016, Deezer raised 100 million euros from shareholders such as French telecoms group Orange...

  • LAUNCESTON, Australia, March 14- Australia is becoming an interesting microcosm on how to, or how not to, transition an economy from being predominantly powered by coal to more climate-friendly alternatives. Musk, in an exchange of tweets with software billionaire Mike Cannon-Brookes, chief executive of Atlassian Corp, offered to fix the electricity supply...

  • BOSTON, March 13- Billionaire investor William Ackman walked away from Valeant Pharmaceuticals International Inc on Monday with a loss of more than $3 billion as he sold his entire stake in the struggling drug company after trying to rescue it for some 18 months. Ackman's Pershing Square Capital Management became one of Valeant's biggest investors in 2015...

  • *Fed's two-day meeting kicks off on Tuesday. March 13- The S&P 500 and the Dow Jones Industrial Average were slightly lower on Monday as gains in financials shares- ahead of a widely expected interest rate hike- were weighed down by losses in drug stocks. A non-partisan report on the costs associated with the Republican plan to replace Obamacare could increase...

  • March 13- U.S. stocks were little changed on Monday as investors preferred to hold their bets ahead of a widely expected interest rate hike by the Federal Reserve later this week. All the major S&P 500 sectors were trading within a small range, indicating a subdued appetite on Wall Street. Traders have placed a 94 percent bet that Fed Chair Janet Yellen will...

  • Mark Cuban's calling Trump the 'Zoolander president'

    Cuban made the comments on Sunday while speaking at South by Southwest in Austin Texas.

  • March 13- Activist investor Sarissa Capital Management LP said on Monday it intends to nominate only three candidates for election to the board of drug company Innoviva Inc.. Innoviva said last week that Sarissa Capital had nominated four directors to replace a majority of the drug company's board. Sarissa Capital is a hedge fund run by Alex Denner,...

  • FRANKFURT, March 12- Former Volkswagen Chairman Ferdinand Piech is set to lose his board seat at Porsche SE, in which Germany's billionaire families Porsche and Piech have pooled their holding in Europe's largest carmaker, a German weekly reported. While Wolfgang Porsche and Ferdinand Piech's brother Hans Michel Piech are on the list of candidates, Ferdinand...