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  • 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...

  • Mark Cuban on politics and prosperity     Wednesday, 22 Oct 2014 | 8:16 AM ET

    Billionaire investor Mark Cuban talks to CNBC about how to change the political conversation to focus on business and success rather than getting bogged down in social issues.

  • Hearing set for Trump casino name lawsuit Tuesday, 21 Oct 2014 | 2:13 PM ET

    The Trumps are suing Trump Entertainment Resorts in state court in New Jersey, seeking to have the Trump name stripped from the Taj Mahal. The real estate mogul and his daughter claim that Trump Entertainment, with which they are no longer involved, let the now-closed Trump Plaza and the Taj Mahal deteriorate to the point where it damages their personal brand.

  • BOSTON, Oct 21- Allergan Inc said on Tuesday it saw no evidence to support claims by hostile suitors Valeant Pharmaceuticals and hedge fund Pershing Square Capital Management that its chief executive officer had spearheaded a campaign to spread misinformation. Pershing Square, run by billionaire William Ackman, has been working with Valeant for months to...

  • NEW YORK, Oct 21- Former SAC Capital portfolio manager Mathew Martoma on Tuesday lost a bid to stay out of prison while he appeals his insider trading conviction, three weeks before he is due to begin serving a nine-year sentence. District Judge Paul Gardephe in New York denied Martoma's request for bail pending his appeal, as well as a separate request to delay his...

  • BOSTON, Oct 20- Billionaire investor William Ackman, whose fund is the largest shareholder in Allergan Inc., and Valeant Pharmaceuticals said the botox maker's Chief Executive Officer David Pyott tried to discredit Valeant as it was making a hostile takeover bid, court documents showed. Ackman's hedge fund has been working with Valeant for months to craft a...

  • MEXICO CITY, Oct 20- America Movil, Latin America's biggest phone company, on Monday said it holds nearly 60 percent of Telekom Austria after its extended offer for the Austrian company closed last week. The purchase increases the sway billionaire businessman Carlos Slim holds over the Austrian phone company, after the initial offer period saw Slim's America...

  • Casino resisting Donald Trump's bid to remove name Monday, 20 Oct 2014 | 2:52 PM ET

    The real estate mogul and his daughter Ivanka Trump are suing Trump Entertainment Resorts, which he once ran, in state Superior Court, demanding that the Trump name come off the Taj Mahal as well. Ivanka Trump said on Monday that she and her father "vehemently disagree" with Trump Entertainment's stance regarding use of the Trump name and the claims the company...

  • News Guide: DCCC outraises Senate rivals Monday, 20 Oct 2014 | 12:52 PM ET

    Democrats' campaign committee for House races picked up $16.7 million in September despite long odds of winning a majority— surpassing both parties' campaign arms focused on the Senate, which is very much in play. If Republicans net six Senate seats and win handily as expected in the House, they will control both chambers in Congress for the final two years of...

  • NEW YORK, Oct 20- Corporate America's cash stockpile increased to a record $1.65 trillion in mid-2014 from $1.64 trillion at the end of 2013, although the pace of growth has slowed sharply, Moody's Investors Service said on Monday. "U.S. corporate cash balances continue to grow on the back of modest economic expansion," Richard Lane, Moody's senior vice president,...

  • New York, Oct 17- Suvretta Capital Management, founded by a former portfolio manager for billionaire investors George Soros and Steven A. Cohen, is generating net returns of 6 percent year-to-date, despite this week's stock market drop and wild gyrations, according to two sources familiar with the situation. The majority of flows into equity strategies over the...

  • Oct 17- The bankrupt Trump Taj Mahal casino received court approval on Friday to break its labor agreement, a key condition for a rescue deal with billionaire Carl Icahn, and the union promptly announced a plan to picket the Atlantic City, New Jersey hotel. Parent company Trump Entertainment Resorts Inc has said trimming $14.6 million from its annual union...

  • Oct 17- Billionaire investor Mark Cuban said he is buying Netflix Inc shares as he considers the video streaming company to be an acquisition target. Netflix shares were down 1.3 percent at $357.03 in midday trading on the Nasdaq. They earlier traded as low as $341.50, down 5.6 percent, after Goldman Sachs slashed its price target on the stock to $450 from $550,...

  • Judge voids Taj Mahal casino union contract Friday, 17 Oct 2014 | 2:07 AM ET

    ATLANTIC CITY, N.J.— The Trump Taj Mahal Casino Resort may survive after all, but it's likely to do so with angry employees. A federal bankruptcy judge in Delaware on Friday voided the struggling casino's contract with its union workers, giving owner Trump Entertainment Resorts a big part of its plan to keep the casino open and save its 3,000 jobs.

  • SAO PAULO, Oct 16- A late injection of campaign cash is helping business-friendly opposition candidate Aecio Neves push Brazil's presidential runoff against incumbent Dilma Rousseff down to the wire, eroding her huge fundraising advantage. Neves has already won over many investors and business leaders with promises to restore fiscal discipline, clamp...

  • *Jimmy Choo growth promises staked on declining China. LONDON/ PARIS, Oct 16- Luxury shoemaker Jimmy Choo is expected to set its London flotation price at 140 pence a share, the bottom of its indicative range, two sources familiar with the matter said on Thursday, amid declining enthusiasm for new issues. Fund managers have also expressed concern that Jimmy Choo had...

  • RPT-Buffett cuts Tesco stake to below 3 pct Thursday, 16 Oct 2014 | 6:20 AM ET

    LONDON, Oct 16- Warren Buffett, the billionaire chairman and chief executive of conglomerate Berkshire Hathaway, has cut his vehicle's stake in troubled British grocer Tesco to below 3 percent, according to a stock market notification. The filing, published on Thursday, said that on Oct. 13 Berkshire reduced its Tesco holding to "less than 3 percent."

  • BOSTON, Oct 16- Some of Wall Street's biggest names are licking their wounds as October lives up to its reputation as one of the market's roughest months. Morgan Stanley strategists said this week that their model portfolio through Monday had trailed the S&P by 3.6 percentage points due to bad bets on technology stocks, including GT Advanced Technologies, the...

  • BRASILIA/ RIO DE JANEIRO, Oct 16- An iron-ore mining company controlled by Brazilian tycoon Eike Batista filed for bankruptcy on Wednesday, the third time in a year that a unit of the former billionaire's EBX industrial group has sought protection from creditors. MMX Sudeste Mineracao SA, the company that made the petition, holds nearly all the significant...