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  • Iowa regulator takes control of struggling insurer Wednesday, 24 Dec 2014 | 1:55 PM ET

    Insurance Commissioner Nick Gerhart said the 120,000 members of CoOpportunity Health in Iowa and Nebraska may find it in their best interests to find new carriers by Feb. 15, the deadline for open enrollment for 2015 coverage. CoOpportunity Health will no longer offer its policies through Iowa's online marketplace, leaving plans offered by Coventry...

  • Creditors go after jailed real estate mogul's wife Tuesday, 23 Dec 2014 | 2:39 PM ET

    BILLINGS, Mont.— Creditors of jailed real estate mogul Tim Blixseth are asking a federal judge in Washington state to find the onetime billionaire's wife in contempt of court as they try to chase down his far-flung assets. Glasser represents the remaining creditors from the 2008 bankruptcy of the Yellowstone Club, a Montana resort founded by Tim Blixseth in the...

  • UPDATE 1-Dos Santos withdraws bid for Portugal Telecom Tuesday, 23 Dec 2014 | 1:57 PM ET

    LISBON, Dec 23- Angolan billionaire businesswoman Isabel dos Santos has dropped her 1.2 billion-euro bid for Portugal Telecom SGPS which threatened to block the sale of PT's former domestic business PT Portugal by Brazilian affiliate Oi to rival telecoms group Altice. Terra Peregrin launched the 1.35 euro a share offer last month seeking to block the sale of...

  • Revamped North Dakota museum sets attendance mark Tuesday, 23 Dec 2014 | 2:02 AM ET

    BISMARCK, N.D.— North Dakota's Heritage Center has seen a record number of visitors this year thanks to a $52 million upgrade of the facility, which sits on the state Capitol grounds in Bismarck, officials said. State Historical Society Director Claudia Berg said about 150,000 people have visited the museum since April 28, when the expanded facility's first two...

  • HK property tycoon sentenced to 5 years in prison Tuesday, 23 Dec 2014 | 12:51 AM ET

    HONG KONG— A Hong Kong court sentenced a billionaire property developer Tuesday to five years in prison for corruption after a high-profile trial that galvanized public anger over the city's elite. High Court Justice Andrew Macrae sentenced Thomas Kwok after a jury found him guilty last week of conspiracy for making HK $8.5 million in payments to city...

  • In 1988, Wang left the army and borrowed 1 million yuan to start a real estate company in Dalian, northeast China. He attracted global firms such as Wal-Mart Stores Inc and Macquarie Group as partners. Now the company that pioneered mixed-use commercial developments in China is making its market debut on Tuesday in Hong Kong's biggest stock listing since 2010,...

  • Mexico to auction high speed mobile spectrum in 2015 Monday, 22 Dec 2014 | 3:14 PM ET

    MEXICO CITY, Dec 22- Mexico said on Monday it planned to auction high-speed mobile phone spectrum in 2015 for the first time in five years as the government seeks to ramp up competition in a sector long dominated by tycoon Carlos Slim. Mexico's government completed a major telecommunications reform in 2014 designed to loosen the hold Slim's America Movil has...

  • Trump Entertainment eyes new financing from Icahn Monday, 22 Dec 2014 | 12:57 PM ET

    WILMINGTON, Del.— Trump Entertainment Resorts says a new $20 million pledge by billionaire investor Carl Icahn will give it time to restructure while keeping the struggling Taj Mahal casino open. Trump attorneys said Monday that Icahn's proposal, $15 million more than his previous bankruptcy financing offer, runs through Dec. 31, 2015. The revised plan omits a...

  • Jailed ex-billionaire's lawyers seek his release Friday, 19 Dec 2014 | 7:29 PM ET

    That would give his client time to obtain documents related to the 2011 sale of a Mexico resort in defiance of an earlier court order, Ferrigno wrote in his request. A second attorney, Philip Stillman, said he received a collect telephone call from Blixseth on Friday from the Missoula County jail. Blixseth, 64, founded Montana's Yellowstone Club and was blamed for...

  • Dec 19- The biggest investor in Meredith Whitney's hedge fund has demanded his money back and two executives have left in the past month, Bloomberg reported, citing a person with knowledge of the firm. Chief Financial Officer Andrew Turchin has also exited, Bloomberg said, quoting the source. Whitney's fund started trading in November 2013 with about $50 million...

  • MEXICO CITY, Dec 19- Mexico's telecoms regulator has opened a fresh antitrust investigation into companies offering voice, data and video services, which could affect Carlos Slim's telephone company America Movil and broadcaster Televisa. The IFT has already declared billionaire Slim's America Movil and Televisa to be dominant players in Mexico,...

  • HONG KONG, Dec 19- A former top Hong Kong civil servant was found guilty on Friday of accepting HK $8.5 million in bribes from executives of property developer Sun Hung Kai Properties Ltd, in the city's highest profile corruption case. Rafael Hui, 66, who headed Hong Kong's civil service from 2005 to 2007, was found guilty of three counts of misconduct in public...

  • UPDATE 1-China's Fosun raises offer for Club Med Friday, 19 Dec 2014 | 3:48 AM ET

    PARIS, Dec 19- Chinese billionaire Guo Guangchang on Friday sweetened his bid for struggling Club Mediterranee at the last minute, trumping a 24 euros offer from Italian tycoon Andrea Bonomi in France's longest-running takeover battle. The new offer was made by Gaillon Invest II, majority controlled by Guo's Fosun conglomerate. It now includes Fosun with a...

  • HK court: Property tycoon guilty of corruption Friday, 19 Dec 2014 | 3:15 AM ET

    HONG KONG— A Hong Kong jury found a billionaire property developer and a former top government official guilty of corruption Friday after a high profile trial that amplified anger at the city's elite. The property magnate Thomas Kwok was convicted of conspiracy for making HK $8.5 million of payments to city official Rafael Hui. On the other hand, I'm unhappy...

  • HONG KONG, Dec 19- A former top Hong Kong civil servant was found guilty on Friday of accepting HK $8.5 million in bribes from executives of property developer Sun Hung Kai Properties Ltd, in the city's most high-profile corruption case. Rafael Hui, 66, who headed Hong Kong's civil service from 2005 to 2007, was found guilty of three counts of misconduct in public...

  • HONG KONG, Dec 19- A former top Hong Kong civil servant was found guilty on Friday of accepting millions of dollars in bribes from the city's largest property developer, Sun Hung Kai Properties Ltd.. Raymond Kwok, co-chairman of the company, was found not guilty of three charges in the graft case. Hong Kong returned to Chinese rule in 1997 and has a separate legal...

  • Brazil graft cases: Beginning of impunity's end? Friday, 19 Dec 2014 | 12:03 AM ET

    RIO DE JANEIRO— A federal investigation into a kickback scheme at Brazil's state oil company has, so far, ensnared 30 executives. And in perhaps the most stunning turn of all, the oil and mining tycoon who once was Brazil's richest billionaire is on trial for something that, until recently, was not even seen as a crime: profiting from inside information.

  • Dec 18- Billionaire investor Carl Icahn offered $20 million in financing on Thursday to keep the Trump Taj Mahal from becoming the fifth casino to close this year in New Jersey's troubled Atlantic City, was once the only major destination for gamblers on the U.S. East Coast. The Taj, owned by bankrupt Trump Entertainment Resorts Inc., is slated to close on Saturday.

  • Dec 18- Billionaire investor Carl Icahn offered to lend $20 million to help bankrupt casino operator Trump Entertainment Resorts Inc keep its Trump Taj Mahal casino in Atlantic City open.

  • Icahn promises Taj Mahal casino $20M to stay open Thursday, 18 Dec 2014 | 1:57 PM ET

    In a letter dated Thursday, Icahn promised Trump Entertainment Resorts that he would provide enough money to keep the casino open throughout bankruptcy proceedings. "Many people would still argue that it would be a better financial decision for me to let the Taj close and wait to see whether a global settlement can be reached," Icahn wrote to Trump Entertainment...