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  • NEW YORK, Jan 23- The billionaire hedge fund manager Louis Bacon has filed a $50 million defamation lawsuit against the Canadian fashion designer Peter Nygård, escalating a long-running battle between the owners of neighboring properties in an exclusive gated community in the Bahamas. Nygård "caused these brazen lies to be published with actual malice and...

  • Atlantic City vs Detroit: Who is better off? Friday, 23 Jan 2015 | 5:22 PM ET

    Jan 23- "At least we're not Detroit," Atlantic City's Mayor joked just last week during his state of the city address. Yet by some measures, Atlantic City is in worse shape than Detroit, with which it shares such traits as a high poverty rate. While the Motor City's Big Three automakers emerged from crisis by the time Detroit was being restructured, Atlantic City's...

  • LAS VEGAS— Las Vegas Sands CEO Sheldon Adelson will take the same title at his company's subsidiary in Macau, Asia's gambling mecca near Hong Kong. Las Vegas Sands owns the Venetian and Palazzo on the Las Vegas Strip, as well as properties in Macau and Singapore. Las Vegas Sands President Robert Goldstein has been appointed interim president of Sands China.

  • HONG KONG— Hong Kong billionaire Li Ka- shing's flagship company said Friday it's offering about $15 billion for the British business of European mobile phone operator Telefonica. Hutchison Whampoa Ltd., which already owns British mobile operator Three, said in a statement that it has been in "exclusive negotiations" with Telefonica SA over the past several...

  • NEW YORK, Jan 22- Billionaire investor Carl Icahn, whose portfolio is stocked with oil companies, said on Thursday that he expects the price of oil to fall further before it recovers on increased demand. Icahn said he placed the currency bet about 2-1/ 2 to three years ago, when one euro bought about $1.28 U.S. dollars. While one euro bought as many as $1.3992 U.S. dollars...

  • Jan 22- Activist investor Carl Icahn nominated two directors to USA Today publisher Gannett Co Inc's board and pushed for changes in the company's corporate governance practices. Gannett's shares rose as much as 3.9 percent to $32.58 on the New York Stock Exchange. Gannett said in August it would separate its slow-growing print operations, including USA...

  • UPDATE 1-Icahn nominates two directors to Gannett board Thursday, 22 Jan 2015 | 10:00 AM ET

    Jan 22- Activist investor Carl Icahn nominated two directors to USA Today publisher Gannett Co Inc's board and pushed for changes in the company's corporate governance practices. Gannett said in August it would separate its slow-growing print operations, including USA Today, from its TV and digital properties. Icahn, who owned about 6.6 percent of Gannett as...

  • SAN FRANCISCO, Jan 21- EBay Inc plans to cut its workforce by 7 percent, or 2,400 jobs, in the current quarter and is exploring a sale or public offering of its enterprise unit as the e-commerce company prepares to split from its payments division, PayPal, this year. The jobs will be cut across the marketplace, payments and enterprise divisions, eBay said on Wednesday...

  • *Deal to help Dalian diversify, expand in entertainment. BEIJING, Jan 21- China's biggest property conglomerate, Dalian Wanda Group Co, has bought 20 percent of Spanish soccer champions Atletico Madrid for 45 million euros, becoming the first Mainland company to invest in a premier European club. Under terms of the investment, Dalian will spend an additional 15...

  • MOSCOW, Jan 21- Russia's second-biggest grocery chain X5 Retail Group said on Wednesday higher food inflation had increased the average customer spend in its stores as it reported a 20.8 percent rise in sales in the fourth quarter. Its low-cost Pyaterochka stores attracted more shoppers but its supermarkets and hypermarkets saw lower numbers because of an...

  • *Dalian Wanda to buy 20 percent stake for 45 mln euros. Dalian Wanda said it had agreed to buy a 20 percent share in Atletico, as China's biggest property group seeks to expand overseas and diversify its business away from a weak domestic real estate market. Dalian Wanda is the parent of Hong Kong- listed Dalian Wanda Commercial Properties Co Ltd..

  • Fox loses U.S. copyright claims over Dish ad-skipper Tuesday, 20 Jan 2015 | 7:50 PM ET

    Jan 20- A U.S. judge has rejected portions of Twenty-First Century Fox Inc's lawsuit seeking to stop Dish Network Corp from selling devices that let viewers skip over commercials when playing back shows. District Judge Dolly Gee in Los Angeles rejected copyright claims that Fox had brought over the Hopper, Dish's digital recording device.

  • Jan 20- Casino operator Wynn Resorts Ltd has slashed Chief Executive Steve Wynn's salary to $2.5 million per year from $4 million, a regulatory filing showed. Wynn, 72, is worth $3.5 billion, according to Forbes magazine. He will also now have to pay to use the company jet for personal purposes, though the filing outlined a $250,000 credit per year that he will...

  • MEXICO CITY, Jan 17- China Telecommunications Corporation, the parent of China's third-largest carrier, is studying a possible investment in Mexico, a company spokesman said on Saturday, a day after Reuters reported that the subsidiary is preparing a possible bid for Mexico's new $10 billion mobile broadband network. The spokesman for subsidiary China...

  • Billionaire who bet against housing reaps reward Sunday, 18 Jan 2015 | 8:13 AM ET
    Mar-a-Lago Club in Palm Beach, Florida

    Jeff Greene made billions betting against the U.S. housing boom. Now, he's sitting pretty and is optimistic about the outlook--at least for the rich.

  • China Telecom studying Mexico investment - spokesman Saturday, 17 Jan 2015 | 1:21 PM ET

    MEXICO CITY, Jan 17- China's third-largest carrier China Telecom is studying a possible investment in Mexico, a company spokesman said on Saturday, a day after Reuters reported that it is preparing a possible bid for Mexico's new $10 billion mobile broadband network. The spokesman for subsidiary China Telecom Corporation Ltd. did not comment directly on the...

  • NEW YORK, Jan 16- Electric utilities in the United States can expect an extra $12 billion a year in annual revenue by 2030 as heat waves increase the demand for air conditioning. Although environmental groups say the SEC has not enforced that requirement rigorously enough, many companies' regulatory filings describe how climate change threatens their...

  • Elderly billionaire does pushups faster than you Friday, 16 Jan 2015 | 2:17 PM ET
    Jim's 75th birthday pushup.

    Jim Thompson, the founder and chairman of Crown Worldwide, celebrated his birthday with pushups.

  • MEXICO CITY, Jan 16- China's third-largest carrier China Telecom is preparing a possible bid for a contract to build and run a new mobile broadband network in Mexico and is seeking local partners to join it in a consortium, three people with knowledge of the matter said. It has already secured up to several billion dollars of financing from Chinese...

  • OneWeb Ltd., which is designing the satellite system, said Thursday that chipmaker Qualcomm Inc. and Virgin Group, run by billionaire Sir Richard Branson, have signed on as investors in the company. Internet companies Facebook Inc. and Google Inc. have also announced plans to bring Internet service to those who lack access. OneWeb, which was founded in 2012 as...