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  • *Foreign reserves drop as finance ministry covers deficit. DUBAI, Aug 12- A former senior official at Saudi Arabia's central bank says he believes the kingdom may soon. The Saudi Arabian Monetary Agency manages the vast bulk of petrodollars earned by the world's top oil exporting country; net foreign assets at the central bank totalled $664.5 billion in June.

  • MEXICO CITY, Aug 10- A new partnership between U.S.-based power company AES Corp and Mexico's Grupo Bal launched on Monday will invest up to $2.5 billion over the next five years mostly in Mexico's newly opened power sector, a top AES executive said in an interview. The 50/ 50 joint venture with Grupo Bal aims to direct about three-quarters of the five-year...

  • LOS ANGELES, Aug 7- The Republican candidates' prime-time debate on Fox News Channel drew 24 million viewers, more than double the prior record for a presidential primary debate and the highest non-sports telecast in cable TV history, according to Nielsen data released on Friday. The tally for Thursday's event in Cleveland more than doubled Fox News Channel's...

  • WASHINGTON, Aug 7- The United States has added a Russian oil and gas field, the Yuzhno-Kirinskoye Field, to its list of energy sector sanctions prompted by Moscow's actions in Ukraine, drawing a prompt rebuke from the Kremlin on Friday. Douglas Jacobson, an international trade lawyer in Washington, said the addition "represents a new arrow in the quiver of U.S....

  • U.S. adds Russian oil field to sanctions list Friday, 7 Aug 2015 | 11:49 AM ET

    WASHINGTON, Aug 7- The United States has added a Russian oil and gas field, the Yuzhno-Kirinskoye Field, to its list of energy industry sector sanctions prompted by Moscow's actions in Ukraine. The action builds on those taken since last year by the United States and the European Union after Russia's annexation of Crimea and its use of force in Ukraine.

  • ATHENS, Aug 7- Greece's battered banks will undergo accelerated tests to uncover their capital shortfalls as authorities race to recapitalise the lenders by the end of the year and avoid penalizing large depositors. But since then the state of the four main lenders- National Bank, Piraeus, Eurobank and Alpha- has worsened dramatically along with the national...

  • *Vimpelcom's Wind and Hutchison's 3 Italia to merge. MILAN/ PARIS, Aug 6- Vimpelcom and Hutchison have agreed to combine their Italian mobile operations in a long-awaited deal that would cut the number of players in Europe's fourth-largest telecom market to three from four. Vimpelcom shares jumped 3 percent at the New York open as investors welcomed a deal that...

  • BOSTON/ NEW YORK, Aug 6- Billionaire investor William Ackman's success at Mondelez International Inc may depend largely on a calculation that nimbler rival Kraft Heinz Co will soon snap up the maker of Cadbury chocolate and Oreo cookies, sources familiar with Ackman's approach said. Ackman's $20 billion hedge fund Pershing Square Capital Management...

  • *Vimpelcom's Wind and Hutchison's 3 Italia to merge. MILAN/ PARIS, Aug 6- Vimpelcom and Hutchison have agreed to combine their Italian mobile operations in a long-awaited deal that would cut the number of players in Europe's fourth-largest telecom market to three from four. Vimpelcom shares jumped 3 percent at the New York open as investors welcomed a deal that...

  • *Michael Kors jumps after results best expectations. Aug 6- Wall Street fell on Thursday morning as investors traded on earnings, with Walt Disney's warning on its cable business continuing to haunt media stocks. Time Warner, Discovery Communications and CBS were all in the red.

  • *Mondelez rises after Ackman buys $5.5 bln stake in co. *Michael Kors jumps after results best expectations. *Fitbit, Tesla fall after results.

  • Aug 6- Viacom Inc reported weaker-than-expected quarterly revenue, hurt by lower revenue from its films business as there were no major movie releases in the third quarter. Revenue from Viacom's studio business, which includes Paramount Pictures Corp, fell 44 percent to $479 million. Net profit from continuing operations attributable to Viacom fell to $591...

  • *The S&P 500 and the Nasdaq composite rose on Wednesday following three days of losses as tech shares advanced, while the blue-chip Dow index ticked lower, weighed by Walt Disney's largest daily drop in almost seven years. *Marathon Oil, Monster Beverage and Zynga are among the companies scheduled to report after the close of market. *Mondelez International...

  • Aug 6- Billionaire activist investor William Ackman's hedge fund has built a $5.5 billion stake in Cadbury chocolate and Oreo cookies maker Mondelez International Inc, which could become a potential target in a consolidating food industry. Pershing Square Holdings Ltd said late on Wednesday that it intends to notify the Securities and Exchange Commission...

  • SYDNEY, Aug 6- Australian billionaire James Packer has sold his six-floor Sydney mansion for at least A $60 million, media reported on Thursday, toppling previous residential real estate records. Packer, an owner of Australia's biggest casino firm by market value, Crown Resorts Ltd, parted with the Sydney estate for as much as A $70 million, Fairfax Media reported.

  • UPDATE 1-Ackman discloses 7.5 percent stake in Mondelez Wednesday, 5 Aug 2015 | 11:59 PM ET

    Aug 5- Activist investor Bill Ackman's Pershing Square Holdings Ltd disclosed a 7.5 percent stake in Cadbury chocolate and Oreo cookies maker Mondelez International Inc.. Ackman's stake is valued at about $5.5 billion based on Mondelez's closing price on the Nasdaq on Wednesday. "We welcome Pershing Square as investors in our company," a Mondelez spokeswoman...

  • BOSTON, Aug 5- Bank of America Merrill Lynch is telling its financial advisers to pull clients' money from billionaire hedge fund manager John Paulson's Advantage fund and said they are not permitted to put new money into one of his other portfolios. Paulson's New York- based Paulson& Co has made bets on Puerto Rico, expecting the island to emerge from its debt...

  • BOSTON, Aug 5- Bank of America Merrill Lynch is telling its financial advisers to pull clients' money out of billionaire hedge fund manager John Paulson's Advantage Funds and said they are not permitted to put new money into one of his other portfolios. Customers at Bank of America's wealth management division who put money into Paulson's Advantage fund will...

  • BOSTON, Aug 5- Billionaire investor Daniel Loeb on Wednesday asked for two board seats at Baxter International after publicly unveiling the roughly $2 billion stake his hedge fund, Third Point, recently took in the healthcare company. Loeb wrote a letter to Baxter Chief Executive Robert Parkinson, telling him that Third Point is now the company's biggest...

  • BOSTON, Aug 5- Billionaire investor Daniel Loeb on Wednesday asked for two board seats at Baxter International after publicly unveiling the roughly $2 billion stake his hedge fund, Third Point, recently took in the healthcare company. Loeb wrote a letter to Baxter Chief Executive Robert Parkinson, telling him that Third Point is now the company's biggest...