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  • Dec 28- Freeport-McMoRan Inc co-founder James Moffett will step down as chairman and quit its board, months after the miner added two new directors under pressure from billionaire investor Carl Icahn. Moffett, who has been appointed chairman emeritus, will be a consultant to Freeport-McMoRan's board, including advising the company on its Indonesia...

  • Prosecutors said the trades enabled SAC Capital to make $275 million, making it the most lucrative insider trading case ever charged in the United States. The $10 million class action accord, which requires court approval, follows earlier deals with U.S. authorities in which SAC Capital agreed to pay $1.8 billion and plead guilty following investigations...

  • Facebook CEO Mark Zuckerberg

    This is what you need to consider if you are dedicating your billions to philanthropy, the FT reports.

  • SAO PAULO/ BRASILIA, Dec 24- The former chief executive officer of Latin America's largest engineering group will be allowed panettone in his jail cell this Christmas. The scandal centered around state-controlled oil giant Petroleo Brasileiro SA, along with impeachment proceedings against President Dilma Rousseff over an unrelated issue and a deep...

  • NEW DELHI, Dec 24- India's Reliance Defence said on Thursday it had signed a manufacturing and maintenance deal potentially worth $6 billion with Russia's Almaz-Antey, the maker of an air defence system that sources said the Indian military was poised to buy. The partnership between the Indian firm controlled by billionaire Anil Ambani and the Russian firm...

  • Larsen& Toubro, Walchandnagar Industries, state-run Bharat Heavy Electricals and Godrej Group are among those who make parts for nuclear plants. They have suffered from years of stop-start orders, as India's nuclear programme stalled. But there are now signs India's $150 billion dollar nuclear power programme is finally getting off the ground: the...

  • Dec 23- Hyatt Hotels Corp said on Wednesday that its payment processing system was infected with credit-card-stealing malware in an attack discovered three weeks ago, the latest in a series of breaches at hospitality firms. Company spokeswoman Stephanie Sheppard said in an email late on Wednesday that the attack was discovered on Nov. 30.

  • Dec 23- Hyatt Hotels Corp on Wednesday asked customers to review payment card statements for possible fraud after it found malicious software in its payment processing systems for hotels it manages. Hilton Worldwide Holdings Inc and Starwood Hotels& Resorts Worldwide Inc last month reported malware breaches at their payment systems.

  • Dec 23- Hotel operator Hyatt Hotels Corp said it had identified malware on computers that operate the payment processing systems for Hyatt-managed locations. The company, controlled by the billionaire Pritzker family, said it had launched an investigation and asked customers to review their payment card account statements. Hyatt did not disclose how many...

  • WASHINGTON, Dec 23- United Launch Alliance, a joint venture of Lockheed Martin Corp and Boeing Co, on Wednesday said it had ordered 20 more RD-180 rocket engines from Russia, on top of 29 engines ordered before Russia's invasion of the Crimea region of Ukraine last year. Congress banned military use of the engines after Russia annexed Crimea last year, but a...

  • BOSTON, Dec 23- In the months before the blowup of Third Avenue's junk bond fund in early December, investors and financial advisors called the New York- based investment company to voice their concerns about the growing percentage of hard-to-trade, illiquid assets in the fund's portfolio. "I would call up and they would say,' We're under control, we have plenty of...

  • A U.S. appeals court rejected the appeal of a prominent wine dealer who was sentenced to 10 years in prison for selling counterfeit wine.

  • NEW YORK, Dec 22- A U.S. appeals court on Tuesday rejected the appeal of a prominent wine dealer who was sentenced to 10 years in prison for selling millions of dollars of rare and expensive counterfeit wine. The 2nd U.S. Circuit Court of Appeals in New York upheld the 2013 conviction and subsequent sentence of Rudy Kurniawan, 39, an Indonesian-born wine dealer who...

  • Dec 22- Media mogul Sumner Redstone's compensation as executive chairman of CBS Corp and Viacom Inc was reduced for 2015, CNBC reported, citing sources. A Viacom spokesman declined to comment other than to say that the company would file its annual proxy with compensation details in January. A CBS spokesman also said the information would be contained in the...

  • NEW YORK, Dec 22- A U.S. appeals court on Tuesday rejected the appeal of a prominent wine dealer who was sentenced to 10 years in prison for selling millions of dollars of rare and expensive counterfeit wine. The 2nd U.S. Circuit Court of Appeals in New York upheld the 2013 conviction and subsequent sentence of Rudy Kurniawan, 39, an Indonesian-born wine dealer who...

  • Dec 22- U.S.-based LKQ Corp said it would buy Italy's Rhiag-Inter Auto Parts Italia SpA, owned by private equity firm Apax Partners LLP, to expand in the European auto spare parts market. The deal, valued at 1.04 billion euros on an enterprise basis, will give LKQ access to Italy, Czech Republic, Switzerland, Hungary, Romania, Ukraine, Bulgaria, Slovakia, Poland and...

  • *China outbound M&A climbs to record $102 bln in 2015. Asia-Pacific M&A totalled $1.2 trillion so far this year, up 46 percent from last year, preliminary data from Thomson Reuters showed, as China rediscovered an appetite for outbound deals after 2014' s 20 percent drop. "China is on the move, we are preparing for a busy year for deal making," said Joseph Gallagher, head...

  • But the SEC said it plans to amend its case against Cohen as it no longer plans to base its claim against the billionaire for failing to supervise another portfolio manager, Michael Steinberg. Steinberg had been sentenced to 3-1/ 2 years in prison after being convicted at trial in 2013 for engaging in insider trading while at Cohen's hedge fund, SAC Capital.

  • *House, Senate pass $1.8 trillion bill, Obama signs it. WASHINGTON, Dec 18- Brushing aside concerns about deepening the budget deficit, U.S. lawmakers approved $1.8 trillion worth of federal spending and tax breaks on Friday in a rare case of bipartisan action after years of damaging fiscal fights in Congress. "I think the system worked" this time, President Barack...

  • WASHINGTON, Dec 18- Brushing aside concerns about deepening the budget deficit, U.S. lawmakers approved $1.8 trillion worth of federal spending and tax breaks on Friday in a rare show of bipartisan cooperation after years of damaging fiscal fights in Congress. The Senate voted 65-33 to approve sweeping legislation that averted a government shutdown, locked...