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  • BOSTON/ NEW YORK, Nov 5- Billionaire investor Bill Ackman expressed confidence in Valeant Pharmaceuticals International Inc's chief executive on Thursday as shares in the drugmaker fell as much as 20 percent to their lowest level since 2013 on concerns over its business practices. Valeant CEO Michael Pearson has come under increasing pressure as the...

  • Ackman, in email, says supports Valeant CEO Pearson Thursday, 5 Nov 2015 | 2:38 PM ET

    BOSTON, Nov 5- Billionaire investor William Ackman on Thursday told Valeant Pharmaceuticals International Inc's chief executive that he supports him and praised management and the board of directors for considering "any and all alternatives" that would benefit shareholders. In a letter sent from Ackman's email account to CEO Michael Pearson, with the...

  • Authorities in the United States and the Netherlands, where Vimpelcom has its financial headquarters, said last year they were investigating the telecoms company's Uzbekistan operations. "Lunder is being held on suspicion of gross corruption linked to Vimpelcom's investments in Uzbekistan," Marianne Djupesland, lead prosecutor and head of the corruption...

  • SAO PAULO, Nov 4- Grupo BTG Pactual SA, Latin America's largest independent investment bank, posted third-quarter profit that beat estimates by a large margin after income from commodities sales and trading surged and the bank booked a hefty, one-off gain from tax credits. The São Paulo-based bank, controlled by billionaire financier André Esteves, earned...

  • High net worth investing: Pro Wednesday, 4 Nov 2015 | 6:10 AM ET
    High net worth investing: Pro

    Simon Smiles, UBS Wealth Management, discusses central bank policies and niche investment strategies for the wealthy.

  • WASHINGTON, Nov 4- When an Amtrak passenger train derailed in Philadelphia in May, killing eight people and injuring scores more, the railroad industry's campaign to delay a Dec. 31 deadline to install technology to prevent such disasters appeared to be finished. Last week, under pressure from companies including Buffett's BNSF Railway Co, which has spent more...

  • ALEXANDER CITY, Ala. Nov 4- As gleaming new factories turn out Airbus aircraft and Hyundai cars in Alabama's urban centers, this small town that once was home to Russell Athletics shows the dilemma now faced by U.S. policymakers. But Russell's abandoned headquarters in Alexander City stands as a reminder of forces the Fed's massive easy money campaign is...

  • NEW YORK, Nov 3- Billionaire investor Carl Icahn made a cryptic reference suggesting he has an interest in embattled drug maker Valeant on Tuesday, and said he was speaking to U.S. politicians about a corporate cash repatriation law that would deter so-called tax inversion deals. Icahn said he was speaking to Wisconsin Republican Congressman Paul Ryan and New...

  • NEW YORK, Nov 3- Bill Gross, the closely watched bond investor, on Tuesday warned that the flatness of the Treasury yield curve could have harmful effects on lending across all credit markets, stunting growth in U.S. corporate profits. Gross, who oversees the $1.4 billion Janus Global Unconstrained Bond Fund, said in his latest Investment Outlook that the Federal...

  • Nov 3- Breaking up American International Group Inc does not "make financial sense" Chief Executive Peter Hancock said on Tuesday, responding to proposals made by billionaire investor Carl Icahn last week. Icahn, in one of the largest activist campaigns of the year, wrote to Hancock urging to him to spin off AIG's life and mortgage units into public companies, cut...

  • Nov 3- Breaking up American International Group Inc does not "make financial sense" Chief Executive Peter Hancock said on Tuesday, responding to proposals made by billionaire investor Carl Icahn last week. Icahn, in one of the largest activist campaigns of the year, wrote to Hancock urging AIG to break itself apart, cut costs more aggressively and give back more to...

  • Keystone XL's builder faced darkening prospects Tuesday, 3 Nov 2015 | 2:25 AM ET

    Monday's appeal by Calgary- based TransCanada Corp has been widely interpreted as an attempt to avert an impending "no" from President Barack Obama to the nearly 1,200- mile cross-border pipeline. The U.S. State Department said it had received a letter from TransCanada asking for the delay but a spokesperson said the review would continue for now.

  • Calgary- based TransCanada Corp said it had sent a letter to the U.S. State Department to suspend its application while the company goes through a state review process in Nebraska. The State Department was reviewing TransCanada's request but continuing its assessment of the project in the meantime, a representative said. Asked if TransCanada was asking for a...

  • NEW YORK, Nov 2- A lawyer for Morgan Stanley struck back sharply on Monday against an insider trading lawsuit brought by a Russian billionaire's company, telling jurors it was "one of the craziest, most made-up cases" ever brought. Morgan Stanley agreed to act as BNP's agent to sell off Veleron's Magna stock if Veleron defaulted. Morgan Stanley learned the next...

  • Nov 2- American International Group Inc's quarterly operating profit plunged as income at all but one of its underwriting businesses declined and tumultuous markets hurt its investments. AIG, the largest commercial insurer in the United States and Canada, also incurred a hefty $274 million pretax restructuring charge that also hurt results in the quarter.

  • NEW YORK, Nov 2- Bill Gross just got a huge vote of "no confidence" from billionaire investor George Soros. Soros Fund Management LLC, which Soros chairs, pulled its roughly $500 million from an account run by Gross at Denver- based Janus Capital Group Inc, a source familiar with the matter said on Monday. The $500 million had been managed through a private investment...

  • NEW YORK, Nov 2- Influential short-selling firm Citron Research did not publish new allegations against Valeant Pharmaceuticals International Inc on Monday as many investors had anticipated, giving the beleaguered shares of the Canadian drugmaker a boost. Shares of Valeant jumped in early New York trading, and were up 8 percent by mid-afternoon, at $101.24.

  • NEW YORK, Nov 2- Bill Gross just got a huge vote of "no confidence" from billionaire investor George Soros. Soros Fund Management LLC, which Soros chairs, pulled its roughly $500 million from an account run by Gross at Denver- based Janus Capital Group Inc, a source familiar with the matter said on Monday. The $500 million had been managed through a private investment...

  • *Second big deal for Coty in three months. Nov 2- Coty Inc will buy the personal care and beauty business of Brazil's Hypermarcas SA for about $1 billion, beefing up its distribution in a fast-growing market ahead of the completion of a similar deal with Procter& Gamble. Shares of Coty, which will become the world's No. 3 make-up provider behind L'Oreal SA and Estee...

  • NEW YORK, Nov 2- Short-selling research firm Citron Research said in a report on Monday it will not be releasing new allegations against Canadian drugmaker Valeant Pharmaceuticals International Inc but will continue to investigate and report "the vast spectrum of claims now piling up" against the company. Citron is overseen by Left, who likened Valeant to...