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  • DONETSK, Ukraine, Oct 24- The clanging of repairs to tanks and heavy armored vehicles rings out from a factory in eastern Ukraine that is owned by the country's richest man but was taken over by pro-Russian rebels. The steel and energy multi-billionaire is, as always, saying little but showing signs of positioning himself for all possible outcomes to the...

  • Paul Allen giving at least $100M to Ebola fight Friday, 24 Oct 2014 | 7:05 AM ET

    SEATTLE— Billionaire Paul Allen says he'll contribute at least $100 million to the fight against Ebola. The Microsoft Corp. co-founder said Thursday that among the initiatives he's supporting is the development of two medevac containment units that the U.S. State Department can use to safely evacuate health workers who become infected.

  • Union picket lines go up at Taj Mahal casino Friday, 24 Oct 2014 | 2:23 AM ET

    The demonstration came a day after billionaire Carl Icahn told The Associated Press the Trump Taj Mahal Casino Resort "will almost certainly close" and he wishes he'd never answered the phone when owner Trump Entertainment Resorts approached him about taking it over and investing $100 million to keep it afloat. Trump Entertainment CEO Robert Griffin said...

  • MEXICO CITY, Oct 23- Mexico's America Movil said on Thursday its third-quarter net profit fell 38 percent compared with a year earlier, missing expectations as taxes and exchange rate losses rose. The company, which is controlled by the family of billionaire Carlos Slim, said net profit in the July-September period fell to 10.12 billion pesos from 16.38 billion...

  • MEXICO CITY, Oct 23- Mexico's America Movil on Thursday said its third-quarter net profit fell 38 percent compared to a year earlier as taxes rose and the cost of sales jumped. The company, which is controlled by the family of billionaire Carlos Slim, said profit in the July-September period fell to 10.12 billion pesos from 16.38 billion pesos a year earlier.

  • Sears refutes store-closing report Thursday, 23 Oct 2014 | 6:34 PM ET

    NEW YORK— Sears Holdings Corp. discredited a report Thursday that says it will be shuttering 116 Sears and Kmart stores, resulting in the layoffs of more than 6,000 workers. Broken down, closures include 55 Kmart stores, 30 Sears stores and 31 Sears Auto Center locations, according Seeking Alpha, citing liquidation sale notices. In an email sent to The Associated...

  • Rajaratnam brother barred for 5 years in SEC deal Thursday, 23 Oct 2014 | 6:11 PM ET

    The Securities and Exchange Commission announced the settlement Thursday with Rengan Rajaratnam. The SEC filed related civil charges against Rengan Rajaratnam in March 2013. The prosecutors had alleged that Rengan Rajaratnam joined his brother to cheat in the stock market in 2008 on the securities of two technology companies.

  • APNewsBreak: Icahn says Taj casino likely to close Thursday, 23 Oct 2014 | 6:10 PM ET

    ATLANTIC CITY, N.J.— Billionaire investor Carl Icahn says the struggling Trump Taj Mahal casino "will almost certainly close." Four of Atlantic City's 12 casinos have closed this year, and the Taj Mahal would be the fifth. Icahn, sounding very much like a man growing tired of the whole topic, said that even though he won't back out of a deal he made with owner Trump...

  • Taj Mahal casino workers dreading insurance loss Thursday, 23 Oct 2014 | 11:30 AM ET

    ATLANTIC CITY, N.J.— One worker had to move up a double mastectomy before her insurance runs out in a week. All three are longtime workers at Atlantic City's Taj Mahal casino, and in just over a week, the three will be without health insurance following a judge's termination of the union's contract with the bankrupt casino. When U.S. Bankruptcy Court Judge Kevin Gross...

  • Zuckerberg speaks Chinese, Beijing students cheer Thursday, 23 Oct 2014 | 11:02 AM ET
    Facebook co-founder Mark Zuckerberg speaks during a dialogue with students as a newly appointed member to the advisory board for Tsinghua University School of Economics and Management in Beijing, Oct. 22, 2014.

    China may ban Facebook, but not its co-founder Mark Zuckerberg. He delighted an audience of students in Beijing recently by chatting in Mandarin.

  • LONDON, Oct 23- The chairman of Britain's biggest grocery chain, Tesco, announced his resignation on Thursday after the company reported a bigger than expected hole in its finances and said accounting transgressions went back further than initially thought. Tesco, Britain's biggest private employer and once the juggernaut of its retail sector, has lost half...

  • Oct 23- Canadian oil and gas producer Husky Energy Inc reported an 11.5 percent rise in quarterly profit, helped by a 10 percent increase in production. Canada's No.3 integrated oil company, controlled by Hong Kong billionaire Li Ka- shing, said total production rose to 341,000 barrels of oil equivalent per day in the third quarter ended Sept. 30, from 309,000 boepd...

  • Oct 23- Husky Energy Inc, Canada's No.3 integrated oil company, reported an 11.5 percent rise in third-quarter profit, helped by an increase in production. The company, controlled by Hong Kong billionaire Li Ka- shing, said net income rose to C $571 million, for the quarter ended Sept. 30, from C $512 million a year earlier. The Calgary, Alberta- based company said total...

  • LAUNCESTON, Australia, Oct 23- There is now no doubt that the big three global iron ore miners are producing record amounts in their bid to dominate the industry. With the lowest cash costs, in the region between $20 to $30 a tonne, and plans to strip out even more costs, they can survive and prosper even if iron ore prices remain weak. The spot price in Asia is down 39...

  • Zuckerberg speaks Chinese, Beijing students cheer Thursday, 23 Oct 2014 | 12:56 AM ET

    BEIJING— China may ban Facebook, but not its co-founder Mark Zuckerberg. Zuckerberg, whose company has long sought to enter China, noted Facebook already helps some Chinese companies in foreign markets, citing computer maker Lenovo's ads on Facebook in India. "Speaking of China, I have a more difficult question for Mark, which I hope will not get me fired.

  • *China, HK fees account for 55 pct of AsiaPac region in 2014. HONG KONG, Oct 23- Private firms have overtaken state-owned companies this year for the first time as the biggest drivers of investment banking revenues in China- a sign of how Beijing's reforms are transforming private capital's role in the world's second-largest economy. Private firms are also...

  • BRASILIA, Oct 22- A Brazilian court has approved a bankruptcy protection petition filed by MMX Sudeste Mineracao SA, an iron-ore mining company controlled by Brazilian tycoon Eike Batista, the company said on Wednesday in a securities filing. The decision was taken by a court in Belo Horizonte in the Minas Gerais state. MMX Sudeste holds nearly all the...

  • Owners: Taj Mahal to stay open throughout November Wednesday, 22 Oct 2014 | 5:38 PM ET

    ATLANTIC CITY, N.J.— Trump Entertainment Resorts is dropping its threat to close Atlantic City's Taj Mahal casino on Nov. 13. Trump Entertainment has been pursuing a long-shot rescue plan to re-finance the company and transfer ownership to billionaire Carl Icahn, who would pump $100 million into it. "As of now we don't have any plan to close the Taj, but that could...

  • Fidelity star manager cuts Herbalife bet in third quarter Wednesday, 22 Oct 2014 | 3:21 PM ET

    BOSTON, Oct 22- One of Fidelity Investments' top stock pickers cooled on Herbalife Ltd in the third quarter, cutting his stake in the company after a profit miss and fresh allegations from billionaire investor William Ackman that it is a fraud. Steve Wymer, who runs the $41 billion Fidelity Growth Company Fund disclosed reducing his stake in Herbalife in a...

  • 'Silicon Beach' brings tech boom to Los Angeles Wednesday, 22 Oct 2014 | 1:41 PM ET

    LOS ANGELES— So long Silicon Valley. In the past few years Google, Microsoft, Facebook, and YouTube have opened offices on the west side of Los Angeles from Santa Monica south to Venice and Playa del Rey. "Historically, Silicon Valley has been the center of gravity for tech and startups but I think more and more, these types of companies can be built anywhere," says Erik...