Millionaires & Billionaires Billionaires

  • 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.

  • LONDON, May 13- Prime Minister David Cameron kicked off the week repeating the main message of the "In" campaign: that European Union membership makes Britain stronger, safer and better off. Boris Johnson, the main leader of the "Out" campaign, argued that membership of a project to create a European state would ultimately make Britain weaker and poorer.

  • *Maybe 3,000 layoffs in Japan, more elsewhere- source. TOKYO/ TAIPEI, May 12- Foxconn founder Terry Gou said there would have to be layoffs at Sharp Corp to turn around the ailing Japanese company, but pledged that wages would rise and profit-sharing would again be the norm. Taiwan's Foxconn, the world's largest contract electronics manufacturer, has battled to seal...

  • WILMINGTON, Del, May 12- T. Rowe Price Group Inc cannot sue computer maker Dell Inc for a higher price in the 2013 buyout by its founder because the fund company voted, albeit mistakenly, in favor of the deal, a Delaware judge has ruled. After Michael Dell and private equity firm Silver Lake took the computer maker private, hundreds of shareholders unhappy with the...

  • BRASILIA, May 12- Brazilian telecoms group Oi SA reported a net loss on Thursday due to competitive pressures against the backdrop of the country's economic downturn, plus the cost of a big debt burden that the company is trying to restructure. Revenue fell 4 percent as Brazil's worst recession in decades squeezed consumer spending on communications services,...

  • LONDON, May 11- The billionaire stockbroker bankrolling the campaign to pull Britain out of the European Union agrees with opponents of Brexit that it will make the country more insecure, but he thinks that is just what the United Kingdom needs. "It will be like Dunkirk again," he said, comparing it to the sealift when Britain was forced to evacuate its forces from...

  • LAS VEGAS, May 11- William Doyle, a key figure in Pershing Square Capital Management's controversial investment in battered drug company Valeant Pharmaceuticals, is leaving the hedge fund, its founder, William Ackman, told investors on Wednesday. Doyle introduced Michael Pearson, the former CEO of Valeant, and Ackman, the billionaire activist investor, in early...

  • LONDON, May 11- The billionaire stockbroker bankrolling the campaign to pull Britain out of the European Union agrees with opponents of Brexit that it will make the country more insecure. But he thinks that is just what the United Kingdom needs. "It will be like Dunkirk again," he said, comparing it to the sealift when Britain was forced to evacuate its forces from...

  • NEW DELHI, May 11- India has failed in its initial attempt to secure the return of debt-strapped tycoon Vijay Mallya from Britain but New Delhi said on Wednesday it would continue to seek his repatriation to face his creditors. Mallya flew to London two months ago, under pressure from bankers seeking to recover about $1.4 billion owed by his collapsed Kingfisher...

  • May 10- Billionaire investor William Ackman's Pershing Square now holds a 5 percent stake in Zoetis Inc after the hedge fund sold about $800 million worth of shares in the animal health company, according to a regulatory filing. Ackman sold 16.85 million Zoetis shares at an average price of $46.55 each, the filing showed on Tuesday. The fund had reported an 8.6...

  • NEW YORK, May 10- At quick glance, public pensions should be running from hedge funds. Then, this February, the $15 billion Illinois State Board of Investment said it would reduce its target allocation from 10 percent to just 3 percent. Henry Garrido, a worker union leader and NYCERS trustee, cited the industry's high fees and poor performance in scoring a...

  • May 9- Krispy Kreme Doughnuts Inc agreed to be taken private by JAB Holding Co for about $1.35 billion as Germany's Reimann family continues to build up its global coffee empire. The company, which led the $13.9 billion buyout of K-cup maker Keurig Green Mountain in March, already owns the Caribou Coffee and Peet's Coffee& Tea chains in the United States.

  • *JSW Group one of India's most indebted conglomerates. MUMBAI/ NEW DELHI, May 10- India's JSW Steel Ltd has bid for the British operations of Tata Steel Ltd, two sources with direct knowledge of the matter confirmed on Tuesday, prompting concerns about its debt levels and putting pressure on its shares. JSW Steel said in a statement it was evaluating UK steel assets...

  • Vivint Solar has filed a lawsuit in Delaware against SunEdison alleging that the solar company willfully breached its obligations under their merger agreement and is seeking damages. Investors began to lose confidence in SunEdison's expansion, when the company announced a $2.2 billion deal to acquire Vivint in July. The Vivint deal also led to a lawsuit by...

  • *JSW Group one of India's most indebted conglomerates. MUMBAI/ NEW DELHI, May 10- India's JSW Steel Ltd has bid for the British operations of Tata Steel Ltd, two sources with direct knowledge of the matter confirmed, worrying bankers about its high debt levels and pulling down JSW shares on Tuesday. Mumbai- based JSW Steel unsuccessfully bid in 2014 to buy some assets...

  • May 9- Billionaire investor William Ackman's Pershing Square Capital Management on Monday set out to sell $800 million in shares of Zoetis Inc, the New York Times reported, citing people familiar with the matter. Ackman set out to sell 16.85 million shares in Zoetis for a price range of $46.75 to $47 per share, the newspaper reported. The newspaper said the...

  • WASHINGTON, May 9- Republican presidential candidate Donald Trump on Monday backtracked on his remarks about raising taxes on wealthy Americans, saying the rich might simply get a smaller tax cut than he originally proposed. Trump walked away from his comment on Sunday that taxes on the wealthy would "go up" once his broad tax policy proposals, which include tax...

  • MEXICO CITY, May 9- Spanish construction firm Ferrovial SA may cancel its plan to bid jointly with cash-strapped local builder ICA for a contract to build a $3.5 billion terminal building for Mexico City's new airport, people familiar with the matter said. Ferrovial, which won a 2010 contract to build a terminal at London's Heathrow Airport for around 800...

  • LOS ANGELES, May 9- A trial over Sumner Redstone's mental competence abruptly ended on Monday when a California judge threw out a lawsuit brought by the 92- year-old's former girlfriend, Manuela Herzer, saying Redstone's deposition made clear the media mogul knew what he wanted. Judge David Cowan wrote in his ruling that Herzer's claims that Redstone could not...