Millionaires & Billionaires Billionaires

  • May 18- Viacom Inc's board voted on Wednesday to stop paying 92- year-old controlling shareholder and Chairman Emeritus Sumner Redstone, the Wall Street Journal reported, citing a person familiar with the matter. Viacom had cut the total pay of its billionaire chairman, who also owns a majority stake in CBS, by 85 percent to $2 million last year.

  • SAO PAULO, May 18- Brazil's deep recession and a need for cash at major construction companies may drive real estate prices down as much as 30 percent this year, the head of self-storage company GuardeAqui said in an interview. Chief Executive Allan Paiotti said GuardeAqui, which is controlled by billionaire Sam Zell's Equity International, may accelerate...

  • *Fed officials hint at possible rate hike in June. NEW YORK/ LONDON, May 18- Gold fell more than one percent on Wednesday as the dollar hit a new three-week high following minutes of the U.S. Spot gold dipped to a session low of $1,262.45 an ounce after the news and was down 1.28 percent at $1,263.2 by 2:29 p.m. EDT, while U.S. gold futures settled down 0.2 percent at...

  • NEW YORK, May 17- Republican presidential candidate Donald Trump is willing to talk to North Korean leader Kim Jong Un to try to stop Pyongyang's nuclear program, Trump told Reuters in an interview on Tuesday. "At the same time I would put a lot of pressure on China because economically we have tremendous power over China," he said in the half-hour interview at his...

  • NEW YORK, May 17- U.S. ratings agency Standard& Poor's on Tuesday cut the credit rating of billionaire investor Carl Icahn's Icahn Enterprises to junk status after the portfolio absorbed declining investment values and higher leverage in the last few months. As of March 31, Icahn Enterprises's LTV ratio was approximately 50 percent, S&P noted. "

  • NEW YORK/ LONDON, May 17- Gold prices rose on Tuesday, reversing earlier losses after a weaker dollar and falling stock markets spurred safe-haven buying of the precious metal. Spot gold was up 0.3 percent at $1,277 per ounce by 2:58 p.m. EDT, while U.S. gold futures settled up 0.2 percent at $1,276.9. "Gold has been supported as of late as the ongoing theme over the...

  • State lawmakers voted to keep in place some of the lowest taxes on oil and gas production in the United States- a break worth $470 million in fiscal year 2015 alone. In Newcastle, 23 miles from the capital of Oklahoma City, John Cerny recently learned that the school attended by his five-year-old granddaughter, Adelynn, will open just four days a week next year.

  • NEW YORK, May 17- U.S. ratings agency Standard& Poor's on Tuesday cut the credit rating of billionaire investor Carl Icahn's Icahn Enterprises to junk status after the portfolio absorbed declining investment values and higher leverage in the last few months. The downgrade reflects Icahn Enterprises' elevated loan-to-value ratio, which S&P now expects to...

  • *Paulson cuts gold bets; Soros rushes back in. NEW YORK/ LONDON, May 17- Gold prices rose on Tuesday, reversing earlier losses after a weaker dollar and falling stock markets spurred safe-haven buying of the precious metal. Spot gold was trading 0.4 percent higher at $1,278.7 per ounce at 11:17 a.m. EDT, while U.S. gold futures were also up 0.55 percent at $1,281.20.

  • MEXICO CITY/ MADRID, May 17- Mexican billionaire Carlos Slim has put two of his grandchildren on boards of his companies, a major step in the succession of one of the world's largest family business empires. Daniel Jr.' s appointment to the board of Slim-owned metals miner Minera Frisco was approved by shareholders in April 2015, according to a public filing to...

  • State lawmakers voted to keep in place some of lowest taxes on oil and gas production in the United States- a break worth $470 million in fiscal year 2015 alone. In Newcastle, 23 miles from the capital of Oklahoma City, John Cerny recently learned that the school attended by his five-year-old granddaughter, Adelynn, will open just four days a week next year.

  • LONDON, May 17- Gold edged lower on Tuesday, after better-than-expected U.S. data and gains in European stock markets which reduced the appeal of the precious metal often perceived as a refuge from riskier assets. Spot gold fell 0.1 percent to $1,272.31 per ounce by 1340 GMT, while U.S. gold futures were also down 0.1 percent at $1,273.40. "There is a little profit...

  • *Palladium lagging gains in gold, silver, platinum. LONDON, May 17- Investor appetite for palladium-backed exchange-traded funds is failing to pick up after a dismal 2015, pointing to another difficult year for the metal despite the prospect of a deepening supply deficit. "It is a big concern," Julius Baer analyst Carsten Meneke said.

  • Offices at Pandora

    Corvex Management disclosed on Monday that it owns 9.9 percent of Pandora Media and urged the company to explore a sale.

  • *U.S. inflation data due at 1230 GMT. LONDON, May 17- Gold edged down on Tuesday partly in response to gains in global stock markets which reduced the appeal of the precious metal, often perceived as a refuge from riskier assets. Spot gold fell 0.3 percent to $1,270.31 per ounce by 1006 GMT, while U.S. gold futures were down 0.2 percent at $1,272.00.

  • *George Soros buys into SPDR fund for first time in 3 yrs. U.S. gold futures were up 0.6 percent at $1,281.30 "There is more of a positive tone to rhetoric on the gold price outlook that may effect prices, but eventually it is the U.S. dollar that is the key driver," said analyst Helen Lau of Argonaut Securities in Hong Kong. However, gains were limited as Asian shares rose...

  • May 16- Corvex Management LP disclosed on Monday that it owns 9.9 percent of Pandora Media Inc and urged the internet music streaming company to explore a sale instead of pursuing a "costly and uncertain business plan." Corvex, a hedge fund by run Keith Meister, a protégé of billionaire activist investor Carl Icahn, said it had met with the company's management...

  • *Spot gold rose 0.25 percent to $1,276.70 per ounce at 0041 GMT. *Asian shares recovered from two-month lows on Tuesday after a rebound in technology giant Apple Corp and oil price gains boosted Wall Street. *MSCI's broadest index of Asia-Pacific shares outside Japan ticked up 0.1 percent, extending the recovery from its two month low set on Friday.

  • May 16- Corvex Management disclosed on Monday that it owns 9.9 percent of Pandora Media Inc and urged the internet music streaming company to explore a sale. Corvex is run by Keith Meister, a protégé of billionaire activist investor Carl Icahn, and said in the letter to Pandora's board that it had been meeting with the company's management in recent months.

  • May 16- Activist investor Carl Icahn has raised his stake in American International Group Inc by 5.2 percent, putting him in a better position to pressure the insurer to split into three independent companies. Tensions have been mounting between AIG Chief Executive Peter Hancock and Icahn over the billionaire's suggestion in October that the company should...