Millionaires & Billionaires Billionaires

  • SHANGHAI, Aug 11- China stocks reversed earlier gains on Thursday as sharp corrections in resources shares and small-caps dragged main indexes lower, despite gains in financial plays. The blue-chip CSI300 index ended the session down 0.3 percent, to 3,233.36, while the Shanghai Composite Index lost 0.5 pct to 3,002.64 points. The Chinese insurer said five...

  • *Australia makes preliminary decision to block bids for Ausgrid. SYDNEY, Aug 11- Australia blocked the A $10 billion sale of its biggest energy grid to State Grid Corp of China and Hong Kong's Cheung Kong Infrastructure Holdings citing security concerns, a blow to the country's privatisation plan. Australia's decision to reject the bids deprives the New South...

  • LAUNCESTON, Australia, Aug 11- Here we go again! The first is that the tax hike is extremely unlikely to succeed in the form proposed by Brendon Grylls, the newly-installed leader of the National Party in Western Australia. What the WA Nationals have proposed is levying A $5 a tonne on iron ore, but only for the two major producers and not for Australia's...

  • SHANGHAI, Aug 11- China stocks were firm on Thursday morning while Hong Kong shares hovered around eight-month highs, as a further decline in Chinese and global bond yields increased the appeal of blue-chips. In Hong Kong, the Hang Seng index added 0.2 percent while the Hong Kong China Enterprises Index gained 0.8 percent. If these yields fall, stocks with low...

  • *Australia makes preliminary decision to block bids for Ausgrid. SYDNEY, Aug 11- Australia has blocked the sale of the country's biggest electricity network to the short-listed bidders, State Grid Corp of China and Hong Kong's Cheung Kong Infrastructure Holdings, on national interest grounds. The sale of the New South Wales government asset required approval...

  • NEW YORK/ SAN FRANCISCO, Aug 10- U.S. prosecutors have opened a criminal investigation into Valeant Pharmaceuticals International Inc over whether it hid from insurers its relationship with a specialty pharmacy that helped boost its drug sales, the Wall Street Journal reported on Wednesday. Attorney's Manhattan office are trying to gauge whether...

  • NEW YORK/ SAN FRANCISCO, Aug 10- U.S. prosecutors have opened a criminal investigation into drugmaker Valeant Pharmaceuticals International Inc over whether it hid from insurers its relationship with a specialty pharmacy that helped boost its drug sales, The Wall Street Journal reported on Wednesday. Attorney's Manhattan office are trying to gauge whether...

  • CHICAGO, Aug 10- Wal-Mart Stores Inc's Mexican unit said on Wednesday it has agreed to sell its Suburbia clothing chain to El Puerto De Liverpool for about $852 million as the world's largest retailer streamlines operations in its largest non-U.S. market. Wal-Mart has been looking to double sales in Mexico by 2024 by boosting its core business of running...

  • Wal-Mart has been looking to boost its core business of running discount retail and membership stores in Mexico by focusing on expanding its fresh food business. Wal-Mart's international division, which contributes roughly one-third of the company's total annual sales of nearly $480 billion, has divested some non-core businesses across Chile, Mexico and...

  • NEW YORK, Aug 10- A New York state judge on Wednesday threw out billionaire hedge fund manager Louis Bacon's $100 million defamation lawsuit against Canadian fashion designer Peter Nygard, saying the case tied to their long-running feud over neighboring properties in the Bahamas belongs there. Supreme Court Justice Cynthia Kern in Manhattan wrote that...

  • BUENOS AIRES, Aug 10- Argentine billionaire Eduardo Eurnekian is eyeing a $1 billion listing in New York of the network of domestic airports his company controls before the end of the year, he told Reuters. Eurnekian is the 83- year-old founder and president of Corporacion America, a holding company for businesses ranging from infrastructure to technology, and...

  • Gerald Cavendish Grosvenor, the sixth Duke of Westminster— a friend of Britain's royal family and one of the country's wealthiest landowners— has died.

  • *Wall Street has bought up and rented out thousands of homes. NEW YORK/ LOS ANGELES, Aug 10- Seeking a yard for her two dogs and proximity to her new government job, Alison Owen set out to buy a home this spring in the hot market of Austin, Texas. Owen had to offer $215,000 for a property listed at $198,000 to fend off at least nine other bidders for the 1,200- square-foot...

  • Does Trump's tax plan favor the rich?

    CNBC's Robert Frank discusses whether or not Donald Trump's tax plan favors the rich.

  • NEW YORK, Aug 9- Billionaire activist investor Carl Icahn said on CNBC on Tuesday that Donald Trump is "right on about the economy" and said "the Archie Bunker of the world" will vote for the Republican presidential candidate. Archie Bunker, a fictional conservative blue-collar worker from the New York City borough of Queens, was the main character in the 1970 s...

  • NEW YORK, Aug 9- Billionaire activist investor Carl Icahn on CNBC said Tuesday that Republican presidential candidate Donald Trump is "right on the economy." Archie Bunker was a fictional conservative blue-collar worker from New York who was the main character in a 1970 s television comedy. Icahn was referring to protests during Trump's speech at the Detroit...

  • NEW YORK, Aug 9- Billionaire activitist investor Carl Icahn on CNBC said Tuesday that Republican presidential candidate Donald Trump is "right on the economy." Icahn, speaking a day after Trump unveiled his economic plan, said "the Archie Bunkers of the world" are going to vote for Trump. Archie Bunker was a fictional conservative blue-collar worker on a television...

  • MUMBAI, Aug 9- Hindustan Zinc Ltd, a subsidiary of billionaire Anil Agarwal's mining conglomerate Vedanta Ltd, aims to double silver output in five years due to rising prices and increased demand from solar panel makers. The group plans to produce 500 tonnes of silver this fiscal year and double that to 1,000 tonnes by fiscal 2022, Chief Executive Sunil Duggal...

  • Aug 5- AbbVie Inc said hedge fund Elliott Associates LP has sued the pharmaceuticals company alleging that it had made misrepresentations and omissions related to a failed attempt to buy Dublin- based Shire Plc. AbbVie's proposal to buy Shire in a $55 billion so-called tax inversion deal was called off in November 2014. Elliott Associates, a hedge fund founded...

  • *Russia annexed Crimea from Ukraine in 2014. SIMFEROPOL, Crimea, Aug 5- Builders of two power plants in the Russian-occupied Ukrainian territory Crimea have finalised plans to install turbines made by a joint venture of Siemens, three sources said. Siemens says its joint venture is making turbines for a separate plant on Russia's Taman peninsula, which is...