Millionaires & Billionaires Billionaires

  • BEIJING/ SHANGHAI, Nov 7- Chinese conglomerate LeEco, which has invested in high-tech products from electric cars to smartphones, is facing a shortage of cash and suffering from expanding too fast and in too many directions, its CEO said in a letter to staff. Jia Yueting, a billionaire who wants to take on global tech giants like Elon Musk's Tesla Motors Inc, said in...

  • Quarterly net income for Omaha, Nebraska- based Berkshire fell to $7.2 billion, or $4,379 per Class A share, from $9.43 billion, or $5,737 per share, a year earlier. Operating profit, which excludes investment and derivative gains and losses, rose 7 percent to $4.85 billion, or $2,951 per share, from $4.55 billion, or $2,769 per share. Results included a $1.6 billion...

  • Quarterly net income for Omaha, Nebraska- based Berkshire fell to $7.2 billion, or $4,379 per Class A share, from $9.43 billion, or $5,737 per share, a year earlier. Operating profit, which excludes investment and derivative gains and losses, rose 7 percent to $4.85 billion, or $2,951 per share, from $4.55 billion, or $2,769 per share. This year's results included a $1.6...

  • The facility near Squamish, just north of the city of Vancouver, will export 2.1 million tonnes a year once it is operational in 2020, the company said in a statement. The British Columbia government, which is keen to develop an LNG industry, welcomed the green light for the C $1.6 billion project and said it would be one of the largest private sector investments in...

  • Quarterly net income for Omaha, Nebraska- based Berkshire fell to $7.2 billion, or $4,379 per Class A share, from $9.43 billion, or $5,737 per share, a year earlier. Operating profit rose 7 percent to $4.85 billion, or $2,951 per share, from $4.55 billion, or $2,769 per share, but fell short of the average $3,058.10 per share forecast of analysts polled by Thomson...

  • BOSTON/ LOS ANGELES, Nov 4- Billionaire investor William Ackman and Chipotle Mexican Grill have signed an agreement to engage in confidential discussions, a source familiar with the matter said, in a sign that the activist may be able to force change at the burrito chain without a costly and drawn-out proxy contest. A spokesman for Ackman's firm, Pershing Square...

  • Quarterly net income for Omaha, Nebraska- based Berkshire fell to $7.2 billion, or $4,379 per Class A share, from $9.43 billion, or $5,737 per Class A share, a year earlier. Operating profit rose 7 percent to $4.85 billion, or $2,951 per share, from $4.55 billion, or $2,769 per share, but fell short of the average $3,058.10 per share forecast of analysts polled by Thomson...

  • Nov 4- Berkshire Hathaway Inc on Friday said third-quarter profit fell 24 percent from a year earlier, when it recorded a large one-time gain, though operating profit grew at the conglomerate run by billionaire Warren Buffett. Quarterly net income for Omaha, Nebraska- based Berkshire fell to $7.2 billion, or $4,379 per Class A share, from $9.43 billion, or $5,737...

  • *Vimpelcom "reinventing" itself as Internet services player- CEO. AMSTERDAM/ LONDON, Nov 4- Vimpelcom is undertaking the telecom industry's most radical overhaul to date, weaning itself from declining revenues from voice and data to focus instead on mobile Internet services such as banking, taxis and messaging, its executives said. The Amsterdam- based company...

  • PARIS/ ZURICH, Nov 4- Luxury goods group Richemont will no longer have a chief executive and be run by a group of senior figures once Richard Lepeu retires in March, Chairman Johann Rupert said on Friday as the group battles a severe watch industry downturn. It said trends improved in mainland China and Hong Kong but the owner of the Cartier brand and watch-makers...

  • NEW YORK, Nov 3- Who, if anyone, on this planet is living their best life? The shortlist of candidates would have to include Richard Branson. A new documentary on Branson's hot-air ballooning adventures titled "Don't Look Down," is being released in select theaters on Nov. 11.

  • NEW YORK, Nov 3- Who, if anyone, on this planet is living their best life? The shortlist of candidates would have to include Richard Branson. A new documentary on Branson's hot-air ballooning adventures titled "Don't Look Down," is being released in select theaters on Nov. 11.

  • NEW YORK, Nov 3- Who, if anyone, on this planet is living their best life? The shortlist of candidates would have to include Richard Branson. A new documentary on Branson's hot-air ballooning adventures titled "Don't Look Down," is being released in select theaters on Nov. 11.

  • NEW YORK, Nov 3- Who, if anyone, on this planet is living their best life? The shortlist of candidates would have to include Richard Branson. A new documentary on Branson's hot-air ballooning adventures titled "Don't Look Down," is being released in select theaters on Nov. 11.

  • Nov 2- American International Group Inc, the largest commercial insurer in the United States and Canada, reported a net income versus a loss last year, when tumultuous markets gutted returns from its investments. The company, which has been under pressure from shareholders, including billionaire Carl Icahn, to cut expenses and divest businesses, slashed total...

  • NEW YORK, Nov 2- Shuttered online news website Gawker Media LLC has reached a $31 million cash settlement with Hulk Hogan, the former professional wrestler who obtained a $140 million judgment against the site over a leaked sex tape. Silicon Valley billionaire Peter Thiel revealed that he helped fund the invasion of privacy lawsuit filed by Hogan, whose real...

  • BOSTON/ LOS ANGELES, Nov 1- Two union-affiliated shareholders in Chipotle Mexican Grill on Tuesday said they would propose replacing the company's chairman, Steve Ells, who founded Chipotle, with an independent director, piling on pressure after well-known activist Bill Ackman took a large stake in the company. Amalgamated Bank and CtW Investment Group, both...

  • BOSTON, Nov 1- Billionaire hedge fund manager Daniel Loeb on Tuesday told clients that "idiosyncratic opportunities" have helped boost returns this year as a string of constant surprises has shaped markets, adding that more may be in store. With next week's U.S. presidential election looming large, Loeb's Third Point hedge fund wrote to clients in a letter seen by...

  • Nov 1- Herbalife Ltd Chief Executive Michael Johnson will step down next year, capping a tumultuous 13- year tenure that was marked by a bitter fight with activist investor William Ackman. He will be replaced by Chief Operating Officer Richard Goudis. Billionaire investor Carl Icahn, who disclosed a 20.78 percent stake in the company in August, said he fully...

  • Nov 1- Herbalife Ltd said Chief Executive Michael Johnson, who has been at the helm for the last 13 years, will step down next year and be replaced by Chief Operating Officer Richard Goudis. The company, however, raised its full-year forecast for adjusted profit to a range of $4.65- $4.85 per share from $4.50- $4.80. The company's net income fell to $87.7 million, or...