Millionaires & Billionaires Billionaires

  • HONG KONG, April 7- Hong Kong's clubby, tycoon culture clashes with Wall Street on Friday, when activist investor Elliott Management Corp, frustrated by poor returns at family-run Bank of East Asia, tries to persuade shareholders to defy the board. The shareholder votes on proposals including renewing some directors' tenure and a mandate to issue new shares, pits...

  • NEW YORK/ LONDON April 7- If 2015 was a dream year for Wall Street's top dealmakers, 2016 is starting to take a nightmarish turn. Some of the mega transactions that had champagne corks popping in boardrooms are running into antitrust problems and, in the case of pharmaceutical firm Pfizer Inc's $160 billion takeover of rival Allergan PLC, political opposition to a...

  • *Debt-heavy SunEdison looking to sell India assets. MUMBAI, April 7- The likely collapse of SunEdison Inc's solar project in India, the first of 32 planned "ultra mega" complexes, could delay Prime Minister Narendra Modi's goal to increase renewable energy fivefold by several years and probably cost consumers more. India plans to auction more of the "ultra mega"...

  • BOSTON, April 6- Billionaire activist investor William Ackman on Wednesday offered a more optimistic outlook for Valeant Pharmaceuticals Inc., saying the embattled drug maker's annual report will be filed soon and that its search for a new CEO is moving forward. Valeant shares surged some 20 percent after Ackman's remarks, adding to a roughly 10 percent gain...

  • BOSTON/ NEW YORK, April 5- For hedge fund titan John Paulson, history may be repeating itself. The Paulson Partners fund, which bets on corporate events such as mergers, is down 7.7 percent in 2016 through February, according to a person familiar with the returns. The Paulson Advantage Plus Fund lost 11.24 percent in the first two months of the year.

  • DETROIT/ WASHINGTON/ MEXICO CITY, April 5- Ford Motor Co on Tuesday announced it would invest $1.6 billion to build more small cars in Mexico, starting in 2018, triggering a fresh blast of criticism from Republican front-runner Donald Trump. The automaker announced the investment in Mexico as Trump, U.S. But data indicates that Ford builds fewer vehicles and...

  • MADRID, April 5- Mexican billionaire Carlos Slim already has majority control of Spanish building and infrastructure company FCC before a full takeover bid is formalised, Spain's stock market regulator said on Tuesday. In a statement, the regulator said because Slim had lent money to FCC's second-biggest shareholder Esther Koplowitz, who owns 22.5 percent...

  • Depositions of Viacom Chief Executive Officer Philippe Dauman and Sumner Redstone's daughter Shari Redstone, which were scheduled for Tuesday and Wednesday, have been postponed, one of the sources said. The case, brought by Redstone's ex-girlfriend Manuela Herzer, has raised questions about the billionaire businessman's role in decision-making at...

  • April 5- Lawyers for Viacom Inc Chairman Emeritus Sumner Redstone are in talks to settle a lawsuit challenging the 92- year-old media mogul's mental competency, people familiar with the situation said on Tuesday. Depositions of Viacom Chief Executive Officer Philippe Dauman and Sumner Redstone's daughter Shari Redstone, which were scheduled for Tuesday...

  • April 5- Representatives of Viacom Inc Chairman Emeritus Sumner Redstone are in settlement talks related to a lawsuit challenging the 92- year-old media mogul's mental competency, the Wall Street Journal reported, citing people familiar with the matter. The litigation has been suspended pending the settlement talks, the Journal reported.

  • Bill Gross

    Pimco said Bill Gross' abusive conduct and effort to sabotage colleagues he deemed disloyal gave it "good cause" to oust him, reported Reuters

  • April 4- Pacific Investment Management Co said former bond manager Bill Gross' abusive conduct and effort to sabotage colleagues he deemed disloyal gave it "good cause" to oust him, and not pay any of the more than $200 million of damages he now seeks in a lawsuit. In a Monday filing with the California Superior Court in Santa Ana, Pimco also said Gross acted...

  • *India's banks hold record bad loans in absolute numbers. MUMBAI, April 5- Global distressed asset buyers such as J.C. Flowers& Co and Apollo Global are flocking to India, where banks have been ordered to clean up an estimated $120 billion of bad and troubled loans. Foreign firms have been similarly attracted to China, which has also seen an explosion in bank bad loans,...

  • Big names implicated in leak

    CNBC's Robert Frank looks at some of the billionaire names implicated in the Panama Papers leak.

  • Wilmington, Del., April 4- TerraForm Global Inc on Monday sued controlling shareholder SunEdison Inc for misappropriating $231 million of TerraForm Global's cash, days after hedge fund billionaire David Tepper made similar accusations against the struggling renewable energy company. TerraForm Global said SunEdison, which is being investigated by...

  • Offshoring post-Panama Papers

    CNBC's Robert Frank looks at the state of off-shore accounts by the world's billionaires in the wake of the the Panama Papers leak.

  • PARIS/ LONDON, April 4- When French Prime Minister Manuel Valls phoned billionaire Martin Bouygues on Thursday evening in an attempt to save a merger between Bouygues Telecom and state-controlled Orange, it was already too late. For the deal to go through, Iliad and SFR would have had to agree to buy some Bouygues Telecom assets to ease competition concerns.

  • HONG KONG, April 3- A Macau court has ruled that a former business partner of Las Vegas Sands Corp, the world's biggest casino company, can proceed with a lawsuit seeking billions in damages for breaking the terms of their former partnership agreement. In a filing made on March 16, a court in the Chinese southern territory denied Las Vegas Sands a motion to dismiss...

  • BOSTON, April 1- Billionaire investor William Ackman's Pershing Square Holdings, Ltd fund lost 7.1 percent last month, hurt largely by Valeant Pharmaceuticals' roughly 60 percent tumble in March. March's poor performance leaves Ackman's fund with a 25.6 percent loss for the year, a person familiar with its returns said on Friday. This marks a dramatic...

  • PARIS, April 1- A proposed deal between state-controlled telecoms group Orange and Bouygues to create France's biggest telecoms operator collapsed on Friday, ending an attempt to ease a price war that has ravaged their margins. A stand-off between billionaire Martin Bouygues and French Economy Minister Emmanuel Macron about the clout the businessman...