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  • NEW YORK, March 25- When Kraft Foods Group merges with H.J. Heinz Co, they will share a name, a central place in the American kitchen and two headquarters near Chicago and Pittsburgh. Heinz's backer, Brazilian private equity firm 3 G Capital Partners, has made a name for itself by aggressively trimming the fat from food and beer companies struggling for growth.

  • Oil to reach $100 a barrel by end of 2016 -Pickens Wednesday, 25 Mar 2015 | 2:03 AM ET

    SAN FRANCISCO, March 24- Oil prices could hit $100 a barrel by the end of next year, U.S. oil magnate T. Boone Pickens said on Tuesday, revising his previous forecast which said they would reach that level as early as this year. "I think you could very well be at $100 a barrel by the end of 2016," the 86- year-old billionaire and chair of BP Capital told an audience of about 100...

  • Scott Walker on Tuesday dismissed a report that he helped steer tax credits and eased up on environmental oversight to benefit national hardware chain Menards after its billionaire owner donated $1.5 million to a conservative group. Yahoo News reported Monday that John Menard Jr. gave the money to Wisconsin Club for Growth to help advance Walker's agenda...

  • LONDON— European cell phone operator Telefonica SA said Tuesday it has reached an agreement to sell its British business, O2, to Hong Kong conglomerate Hutchison Whampoa Ltd. for 10.25 billion pounds. Spain- based Telefonica said the purchase price includes an initial amount of 9.3 billion pounds and another 1 billion pounds to be paid later.

  • BILLINGS, Mont.— One-time billionaire and Yellowstone Club founder Tim Blixseth owes almost $74 million in back taxes, penalties and interest in Montana, state revenue officials said Tuesday, after a tax board ruled that the real estate mogul diverted huge sums from the luxury resort for personal use. Revenue officials said the Washington state resident and...

  • NEW YORK— A federal judge, citing national security concerns, on Monday threw out a defamation lawsuit a wealthy Greek shipping magnate brought against a nonprofit organization seeking to prevent Iran's efforts to obtain nuclear weapons. District Judge Edgardo Ramos in Manhattan said the government had shown there was no solution that would let the...

  • NEW YORK, March 23- Revlon Inc has reached a settlement with a former chief scientific officer whose claims the company's chief executive made derogatory statements about Jews, Americans and black people went viral on social media. Revlon said in a statement that the case was "amicably resolved." Meyers, who joined Revlon in 2010 and was fired in December last year,...

  • BUENOS AIRES, March 22- Citigroup Inc said it has been authorized by a U.S. judge to process two Argentine debt payments, the bank said, which could ease tensions between the bank and the default-hit nation. District Judge Thomas Griesa in New York ruled that Argentina must settle with the hedge funds seeking full payment on their defaulted sovereign bonds before...

  • Jeb Bush’s team plots vast effort to win Florida Saturday, 21 Mar 2015 | 8:14 PM ET
    Former Florida Governor Jeb Bush waits to address the Detroit Economic Club about his "Reform Conservative Agenda" in Detroit, Michigan, February 4, 2015.

    The political apparatus around former Gov. Bush is plotting to turn Florida into a bulwark for his presidential campaign. The NY Times reports.

  • While the mega rich from Silicon Valley have made headlines for their purchases of extravagant Los Angeles homes, the city has become increasingly appealing to a trove of angel investors and startup entrepreneurs as well. "We've seen an uptick in buyers from the technology industry over the last several years— some moving to Los Angeles and some buying second...

  • The 64- year-old woman spends much of her meager pension of 150 lari a month on medicine and has long lived off selling cheap jewelry at a flea market to tourists, mainly from Russia and Ukraine. "There were some signs of life in January, when suddenly some tourists from Russia, Ukraine and Poland appeared, but since then it's been a complete catastrophe," said...

  • March 20- Wal-Mart Stores Inc shareholders will vote in June at the company's annual meeting on electing an independent board chairman, after U.S. regulators rejected a request by the retailer to block the proposal. Wal-Mart had argued that the proposal, submitted by the International Brotherhood of Teamsters General Fund, should be omitted because it was...

  • Wealth gap revolution?   Friday, 20 Mar 2015 | 4:16 PM ET
    Wealth gap revolution?

    "Shark Tank" investor Kevin O'Leary reacts to billionaire warnings of income inequality in the U.S.

  • *Armed men raid state-owned oil company in Kiev. KIEV, March 20- A raid by a group of armed men in combat fatigues on a state-owned oil company in the Ukrainian capital Kiev caused uproar in parliament on Friday and thrust banking billionaire Ihor Kolomoisky into the spotlight. Kolomoisky, governor of the eastern Dnipropetrovsk region and one of Ukraine's...

  • ATLANTIC CITY, N.J.— Gamblers who have been ordered to return $1.5 million they won at an Atlantic City casino that unknowingly used unshuffled cards are asking a judge to let them keep the money. "The trial judge considered the law and made a very thoughtful and correct decision," he told The Associated Press. Once players realized the pattern in which the cards were...

  • MEXICO CITY, March 19- A subsidiary of Mexican billionaire Carlos Slim's Grupo Financiero Inbursa bank has entered two loan agreements for nearly $700 million, pledging America Movil stock as collateral, according to a filing published on Thursday. The unit, Control Empresariales de Capitales, agreed on March 11 with HSBC to borrow up to 300 million euros and...

  • TOKYO/ BILOXI, Mississippi, March 19- Japan's tax authorities have begun a review of how slot machine maker and casino developer Universal Entertainment accounted for $40 million in payments made in 2010 to an associate of the Philippines' top gambling regulator at that time, people with knowledge of the matter told Reuters. On Wednesday, Universal said in a...

  • BILOXI, Miss., March 19- Japanese slot machine tycoon Kazuo Okada had his license renewed on Thursday by Mississippi's state gaming regulator, but with a newly added condition that an ongoing FBI investigation related to his Philippines casino project is resolved without charges against him. The open-door hearing was the first known public appearance by...

  • ATLANTIC CITY, N.J.— Ratcheting up his war of words with Atlantic City's main casino union, billionaire investor Carl Icahn on Thursday likened the group to mobsters demanding protection from merchants in return for not getting bricks through their windows. In a letter to members of Local 54 of the Unite-HERE union, the soon-to-be owner of the Trump Taj Mahal...

  • Putin urges billionaires to bring money back to Russia Thursday, 19 Mar 2015 | 7:08 AM ET

    In an apparent reference to the possibility of further U.S. and European Union sanctions on Russia for its involvement in the Ukraine crisis, Putin warned Thursday of a possible "limit on the use of these capital amounts which are located in foreign jurisdictions." Citing "disturbing information from a number of countries," Putin said he suspects that "attempts...