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Millionaires & Billionaires Billionaires

  • Feb 14- American International Group Inc, the largest commercial insurer in the United States and Canada, reported a bigger-than-expected quarterly loss, largely due to a $5.6 billion reserve charge to cover possible future claims. AIG's net loss widened to $3.04 billion, or $2.96 per share, in the fourth quarter ended Dec. 31, from $1.84 billion, or $1.50 per share,...

  • NEW YORK, Feb 14- Soros Fund Management LLC got out of gold in the fourth quarter of 2016 while Paulson& Co reduced its stake in SPDR Gold Trust, as bullion prices saw their weakest quarterly performance in 3-1/ 2 years, regulatory filings showed on Tuesday. New York- based Paulson& Co, led by longtime gold bull John Paulson, cut its stake in SPDR Gold Trust to 4.4 million...

  • BOSTON, Feb 14- Soros Fund Management, the firm that invests the personal fortune of billionaire investor and philanthropist George Soros, took a handful of new positions in financial stocks during the fourth quarter as the sector was buoyed by Donald Trump's presidential victory. The New York- based firm disclosed a $14.9 million position in Goldman Sachs and...

  • NEW YORK, Feb 14- Warren Buffett's Berkshire Hathaway Inc was an aggressive buyer of stocks in last year's fourth quarter, nearly quadrupling its stake in Apple Inc and increasing its stake sevenfold in the four biggest U.S. airlines. Larger Berkshire investments such as Wells Fargo& Co, Coca-Cola Co and International Business Machines Corp are normally...

  • The SEC announcement came two years after CVR disclosed regulators were examining whether it properly characterized fees it agreed to pay advisers Goldman Sachs and Deutsche Bank to defend against Icahn's tender offer. According to the SEC, the Texas- based oil refinery company made inadequate disclosures in SEC filings about "success fee" arrangements it...

  • *Vast untapped market fuelling boom in small loans. TIANJIN, China, Feb 15- In a mobile phone shop in Tianjin, northeast China, Jiao Zhiwen sells about 220,000 yuan in small loans each month, one of hundreds of thousands of loans agents helping to fund the country's unprecedented consumer spending spree. Jiao works for Home Credit China, among the handful of...

  • NEW YORK, Feb 14- Warren Buffett's Berkshire Hathaway Inc was an aggressive buyer of stocks in last year's fourth quarter, nearly quadrupling its stake in Apple Inc and reporting significantly larger holdings in the four biggest U.S. airlines. In a regulatory filing, Berkshire said it boosted its stake in Apple as of Dec. 31 to about 57.4 million shares worth...

  • Feb 14- NBCUniversal, the U.S. media conglomerate owned by Comcast Corp, has made an investment in European broadcaster Euronews and named Noah Oppenheim as the president of NBC News, according to an internal memo seen by Reuters on Tuesday. The investment will allow NBC to reach out to 277 million new households in 13 languages across Europe, Africa and the Middle...

  • NEW YORK, Feb 14- Several big-name U.S. hedge fund investors in the fourth quarter moved significant parts of their portfolios into financial and pharmaceutical stocks that are expected to benefit under the Trump administration, helping to power the sector to its best January performance in four years. Omega Advisors, run by Leon Cooperman and Steven Einhorn,...

  • Feb 14- American International Group Inc, the largest commercial insurer in the United States and Canada, reported a bigger quarterly loss, largely due to a charge related to higher reserves to meet claims. AIG's net loss widened to $3.04 billion, or $2.96 per share, in the fourth quarter ended Dec. 31, from $1.84 billion, or $1.50 per share, a year earlier.

  • BOSTON, Feb 14- William Stiritz, one of the largest investors in Herbalife Ltd, cut his stake in the nutrition and weight loss company to 1.4 percent at the end of the fourth quarter from 5.2 percent a year ago, according to a regulatory filing on Tuesday. At the same time billionaire investor Carl Icahn, who has sparred with rival billionaire William Ackman over the...

  • MUMBAI, Feb 14- Sun Pharmaceutical Industries, India's largest drugmaker, reported its first fall in quarterly profits in a year on Tuesday, as pricing issues and supply constraints affected sales in the United States, its largest market. Sun's U.S. business faces increasing uncertainty as it struggles to fix quality control problems found by regulators at its...

  • Shares of Atlanta- based Popeyes moved sharply higher on the news in afternoon trading. RBI and Popeyes have yet to agree on a deal price, and there is no certainty that negotiations will continue, the people said. Popeyes shares jumped 14 percent in New York, reaching a record $75.30 and giving the company a market capitalization of around $1.6 billion.

  • Elon Musk says humans must merge with machines or become irrelevant in AI age

    Billionaire Elon Musk said on Monday that humans need to combine their minds with computers or risk becoming obsolete.

  • Trump slams Mark Cuban on Twitter

    President Donald Trump says Cuban is 'not smart enough' to be the leader of a free world.

  • SHANGHAI, Feb 13- Chinese stocks opened the week on a firm footing on Monday and were track for the fourth straight day of gains, with sentiment boosted by strong commodities, while the Hong Kong market hit four-month highs thanks to capital inflows from the mainland. He said liquidity concerns also eased somewhat as China's central bank injected 100 billion...

  • LOS ANGELES, Feb 12- Costumed avengers, a billionaire with a kinky side, and a brutally efficient hit man proved to be just the tonic for an ailing domestic box office. "The Lego Batman Movie" bested "Fifty Shades Darker" at the multiplexes over the weekend, earning a robust $55.6 million to capture first place. Not to be outdone, Lionsgate's " John Wick: Chapter 2," a...

  • LOS ANGELES, Feb 12- Costumed avengers, a billionaire with a kinky side, and a brutally efficient hit man proved to be just the tonic for an ailing domestic box office. Not to be outdone, Lionsgate's " John Wick: Chapter 2," a followup to 2015' s " John Wick," picked up a smashing $30 million. The three new releases succeeded by appealing to different demographics and age...

  • LAGOS, Feb 11- The founder of Nigeria's largest airline Arik Air, placed in receivership earlier this week, accused the government of seizing Arik to meet a political goal of creating a "national carrier" and said he would challenge the move in court. Arik is West Africa's biggest airline by passenger numbers but has been hard hit by Nigeria's currency crisis as its...

  • SAO PAULO/ RIO DE JANEIRO, Feb 10- Brazil's one-time richest man Eike Batista will stand trial on corruption charges along with an ex- Rio de Janeiro governor who allegedly took millions in bribes from the former billionaire. Federal prosecutors on Friday leveled the charges against Batista, the former governor Sergio Cabral and seven other people accused for...