Millionaires & Billionaires Billionaires

  • 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...

  • *Russia annexed Crimea from Ukraine in 2014. SIMFEROPOL, Crimea, Aug 5- Builders of two power plants in the Russian-occupied Ukrainian territory Crimea have finalized 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...

  • NEW YORK, Aug 5- Billionaire investor Carl Icahn turned down an invitation to join Republican presidential candidate Donald Trump's economic advisory council because Icahn is considering funding a Super PAC focused on regulatory reform, Icahn's general counsel told Reuters on Friday. The first Super PAC Icahn formed had an initial commitment of $150...

  • While the Canadian economy is struggling with the drag from weak oil prices, global events like Britain's vote to leave the European Union have increased its appeal. Class A sales in Canada in the first half of 2016 were worth $2.7 billion, compared with $415 million in the same period last year, with Vancouver and Toronto especially active, according to real...

  • MADRID, Aug 5- A slump in Spanish builder OHL's stock price this week has turned the spotlight on its parent company, an indebted conglomerate built up by one of Spain's richest businessmen and which has secured loans against its affiliate's shares. OHL, one of few construction firms to have survived Spain's 2008 property market crash had, as of Friday afternoon,...

  • HONG KONG, Aug 5- Shares in Hong Kong restaurant chain operator Dining Concepts Holdings Ltd, which counts the son of China's richest man among its shareholders, surged as much as 17 times on its first day of trading on Friday. Dining Concepts and its shareholders raised HK $90 million through the offer on Hong Kong stock exchange's Growth Enterprise Market, with...