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Speaking bluntly, Ackman, who sits on the JC Penney board and whose $12 billion Pershing Square Capital Management is the company's largest shareholder, said big mistakes have been made remaking the 110 year-old retail brand.
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Speaking bluntly, Ackman, who sits on the JC Penney board and whose $12 billion Pershing Square Capital Management is the company's largest shareholder, said big mistakes have been made remaking the 110 year-old retail brand.
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CNBC's Robert Frank explains the "wealth effect" and what today's market sell off says about the wealthy.
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Blackstone Group will visit Dell's headquarters to begin an in-depth analysis of the company, sources said, a strong sign the buyout firm is proceeding with an offer that could upset founder Michael Dell's $24.4 billion buyout bid.
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Speaking bluntly, Ackman, who sits on the JC Penney board and whose $12 billion Pershing Square Capital Management is the company's largest shareholder, said big mistakes have been made remaking the 110 year-old retail brand.
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HONG KONG, April 5- Hong Kong shares could start higher on Friday as markets reopen following a public holiday, bolstered by the Bank of Japan's unprecedented monetary expansion.
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CNBC's Robert Frank reports on a bitter family feud that involves dueling allegations of fraud, lavish spending and tens of millions of dollars in private jet rides for puppies.
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*Tele2 says deal is closed, eight days after unveiled. *Vimpelcom, a Fridman investment, has bid for Tele2 unit, alongside MTS. Fridman is linked with two bids for the Russian unit of Nordic operator Tele2- one from his A1 vehicle and the other, at a higher price, from MTS and Vimpelcom, in which he is a leading investor.
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New data from the IRS shows that tax filers with taxable incomes of $1 million or more were audited nearly 12 times more often than the population as a whole.
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HONG KONG, April 5- The mystery lender behind a Thai billionaire's $9.4 billion purchase of a stake in China's No.2 insurer was UBS, which offered a last minute and complex financing package known to only a few involved, people with knowledge of the matter told Reuters.
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RIO DE JANEIRO, April 3- Workers ended a two-day strike at the OSX Brasil SA shipyard at Brazil's Port of Acu on Wednesday, after delaying construction and blockading an industrial complex owned by Brazilian billionaire Eike Batista. The workers said Acciona failed to pay wages and provided substandard conditions.
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RIO DE JANEIRO, April 3- Workers extended a strike at the OSX Brasil SA shipyard at Brazil's Port of Acu for a second day on Wednesday, delaying construction and blockading an industrial complex owned by Brazilian billionaire Eike Batista. The striking workers allege Acciona failed to pay wages and provided substandard work conditions at the shipyard site.
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NEW YORK-- Shuffle under some Star of David stained glass windows and a rack of prayer shawls in a corner of the off- Broadway Actors Temple Theatre for this high-volume command at the start of its latest show:. The rough-sex romp, featuring a half-wit Anastasia Steele and a flyswatter-lovin' Christian Grey is aimed squarely at the Zumba set.
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*CVR Energy, HollyFrontier vulnerable to higher RIN costs. CVR Energy Inc and HollyFrontier Corp, inland refiners with limited capacity to blend biofuels into the pipeline, are suffering from a jolt to investor confidence while stocks of their coastal peers continue a two-year upward march.
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NEW DELHI, April 3- Indian Prime Minister Manmohan Singh urged business leaders on Wednesday to keep faith in his Congress- led government's efforts to improve a dire investment climate, without giving details of fresh steps to bring about a recovery in the sagging economy.
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*Argentina would pay just one-sixth owed to holdouts. NEW YORK, April 2- A U.S. appeals court on Tuesday gave holders of defaulted Argentina debt three weeks to respond to the country's proposed plan to pay them much less than the $1.33 billion they have sued to collect.
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ROME, April 2- Italian President Giorgio Napolitano expressed despair on Tuesday at fierce criticism of his latest plan to end a post-election deadlock that has raised fears of months of instability in the euro zone's third largest economy.
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NEW YORK-- Shares of Nuance Communications Inc. rose Tuesday on news that billionaire investor Carl Icahn has accumulated a 9.3 percent stake in the voice-recognition technology company. THE SPARK: Icahn's interest in Nuance was disclosed in a Monday regulatory filing.
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ROME, April 2- Italian President Giorgio Napolitano expressed despair on Tuesday at fierce criticism of his latest plan to end a post-election deadlock that has raised fears of months of instability in the euro zone's third largest economy.
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*Reliance Industries to use Reliance Comms fibre optics. Reliance Industries, controlled by Mukesh Ambani, India's richest person, will pay 12 billion rupees to younger brother Anil Ambani's Reliance Communications for use of its fibre optic network.
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*Tesla Motors rallies after profit outlook. Portfolio manager Will Danoff, whose $92 billion Fidelity Contrafund is the largest active shareholder in Apple, cut the fund's stake in the iPhone maker by 10 percent during the first two months of 2013..