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  • TORONTO, Oct 22- A Canadian securities regulator said on Thursday that recent allegations against Valeant Pharmaceuticals International's use of specialty pharmacies to inflate revenue are "worrying," adding to growing investor concerns over the company's prospects. The declines have chopped $16 billion from the company's market capitalization in the...

  • LONDON, Oct 22- The world's biggest oil traders are sitting on a war chest worth billions of dollars, but are reluctant to embark on a spending spree, because the pool of available assets is either too pricey or simply not for sale. Mercuria sold a 51 percent stake in Henry Bath, one of the world's oldest metals storage firms that it acquired through its purchase of...

  • TORONTO, Oct 22- U.S. miner and oil producer Freeport-McMoRan, under pressure from activist investor Carl Icahn and falling prices, said on Thursday it will further cut copper and molybdenum output as it posted a bigger-than-expected quarterly loss. The Phoenix- based company said it remains confident in the longer-term outlook for copper prices, but will...

  • TORONTO, Oct 22- U.S. miner and oil producer Freeport-McMoRan, under pressure from activist investor Carl Icahn and falling commodity prices, said it would further cut copper and molybdenum output as it posted a bigger than expected quarterly loss on Thursday. The Phoenix- based company said it is cutting operating rates at its Sierrita mine in Arizona by 50...

  • BOSTON, Oct 21- A precipitous plunge in the stock price of Valeant Pharmaceuticals International Inc cost some of Wall Street's top names billions of dollars on Wednesday but hedge fund manager William Ackman took the meltdown as a buying opportunity. Pershing Square Holdings confirmed late on Wednesday that the company acquired in excess of two million...

  • NEW YORK, Oct 21- Valeant Pharmaceuticals International Inc plunged as much as 40 percent after an influential short-seller accused the company of using specialty pharmacies to inflate its revenue, an allegation that the drugmaker denied. Citron Research, a short-selling firm run by Andrew Left, alleged that Valeant's previously undisclosed ties to...

  • CARACAS, Oct 21- Socialist Party legislators on Wednesday asked state prosecutors to investigate Venezuela's billionaire businessman Lorenzo Mendoza and Harvard economist Ricardo Hausmann for alleged crimes including "treason." State media last week broadcast a private conversation between the pair in which Hausmann insists Venezuela's crisis-hit...

  • NEW YORK, Oct 21- Billionaire investor activist Carl Icahn tweeted on Wednesday that he is forming a Super PAC with an initial commitment of $150 million, representing the biggest one-time injection of money in the history of such political action committees. In a letter, released Wednesday and sent to several leading members of Congress, Icahn said as many as 50...

  • NEW YORK, Oct 21- Shares of Valeant Pharmaceuticals International Inc plunged as much as 30 percent after an influential short-seller accused the company of fraud, saying it used its relationship with specialty pharmacies to inflate revenue. The Citron Research report hit shares hard shortly after 10 a.m. EDT in New York trading. Shares of some key competitors,...

  • MEXICO CITY, Oct 20- Mexican mining and railroad company Grupo Mexico expects to invest $1 billion in new oil projects over five years from a mix of contracts and joint ventures with national oil firm Pemex, a top executive said on Tuesday. One of Mexico's biggest conglomerates and controlled by reclusive billionaire German Larrea, Grupo Mexico is divided into...

  • MEXICO CITY, Oct 20- Mexico's America Movil faces tough challenges across all its biggest markets with weak Latin American currencies, tougher regulation and new competition contributing to its first quarterly loss in almost 14 years. It also stepped up its rhetoric against regulations in Mexico. A 45 billion peso foreign exchange loss from tumbling Latin...

  • *New entity to be franchisee of Yum Brands in mainland China. *Greg Creed to lead Yum Brands, Micky Pant to lead Yum China. Oct 20- KFC owner Yum Brands Inc said it plans to spin off its dominant China business, which has been besieged by food scandals and marketing missteps, amid pressure from an activist shareholder who recently joined its board of directors.

  • MEXICO CITY, Oct 20- Mexican global telecommunications company America Movil said on Tuesday that it plans to cut capital expenditures and renegotiate with suppliers after it posted its first quarterly loss in almost 14 years. Grappling with tougher regulation at home and recession in Brazil, America Movil on Monday posted a surprise 2.884 billion peso loss...

  • *New entity to be franchisee of Yum Brands in mainland China. *Greg Creed to lead Yum Brands, Micky Pant to lead Yum China. Yum China will operate as a publicly traded company and become a franchisee of Yum Brands in mainland China, paying the parent a percentage of its sales for exclusive rights to three of the company's brands- KFC, Pizza Hut and Taco Bell.

  • MEXICO CITY, Oct 20- Mexican billionaire Carlos Slim's America Movil fell sharply in early Tuesday trading after the global telecommunications company reported its first quarterly loss in almost 14 years. Grappling with tougher regulation at home and recession in Brazil, America Movil on Monday posted a surprise 2.884 billion peso loss in the third quarter,...

  • MEXICO CITY, Oct 19- Mexican billionaire Carlos Slim's America Movil on Monday reported its first quarterly loss in almost 14 years as a sharp depreciation in Latin American currencies battered the region's biggest pay TV and wireless company. Grappling with tougher regulation at home and recession in Brazil, America Movil posted a surprise 2.884 billion...

  • NEW YORK, Oct 16- Jeb Bush is leading the U.S. presidential campaign by at least one measure: financial support from Wall Street. The former Florida governor who is seeking the Republican presidential nomination received more financial backing than any competitor- Democrat or Republican- from employees of the major Wall Street banks between July and the end of...

  • NEW YORK, Oct 16- A billionaire real estate developer from Macau accused by U.S. authorities of bribing a former United Nations General Assembly president won the right on Friday to leave jail on a $50 million bond and live under house arrest in a luxury Manhattan apartment. Magistrate Judge Kevin Fox in Manhattan accepted a proposal by Ng's new attorneys to...

  • WASHINGTON, Oct 16- When Boeing Co., General Electric Co. and other companies wanted to show Congress last February the dangers of closing the Export-Import Bank, they turned to a time-tested Washington ritual: knocking on Capitol Hill office doors. Working together, they mobilized executives from more than 650 companies to descend on Washington in a two-day "...

  • Oct 16- Former Microsoft Corp Chief Executive Steve Ballmer owns a 4 percent stake in Twitter Inc, Bloomberg reported, citing an email from him. "Like zalwaleedbinT move too," the tweet added, referring to Saudi Arabian billionaire Prince Alwaleed bin Talal. The prince and his investment firm, Kingdom Holding, said earlier this month they had raised their stake in...