HOUSTON— In a story Aug. 21 about a new state park planned for southeast Texas, The Associated Press erroneously reported the amount of money from a BP and Transocean fund that was used to buy the land. Conservationists team up to buy Texas bayside ranch with $30 M from BP's 2010 oil spill fund.» Read More
NEW YORK— A federal judge in Manhattan on Thursday said Argentina's plans to evade his orders by failing to make required payments to U.S. bondholders is illegal and cannot be carried out, but he stopped short of finding the South American nation in contempt of court. District Judge Thomas Griesa called Argentina's actions toward U.S. bondholders "lawless."
HOUSTON— A sprawling private ranch in southeast Texas will be converted into a state park with the assistance of a fund created in the wake of the 2010 Deepwater Horizon oil spill, the Texas Parks and Wildlife Foundation announced Thursday.
HOFFMAN ESTATES, Ill.— Sears Holdings Inc. recorded a hefty second-quarter loss Thursday on another sales slump, raising more concerns about the future of a company that once was a staple of American shopping. Sears, controlled by billionaire hedge fund investor Edward Lampert, lost $573 million, or $5.39 per share, for the period ended Aug. 2.
Aug 21- Sears Holdings Corp, owner of Sears department stores and Kmart discount chain, reported its ninth straight quarterly loss as sales continued their decade-long fall. Loss attributable to shareholders widened to $573 million, or $5.39 per share, in the second quarter ended Aug. 2 from $194 million, or $1.83 per share, a year earlier.
Aug 21- Dollar General Corp questioned whether Family Dollar Stores Inc Chief Executive Howard Levine was being driven by self-interest in his support of a proposed takeover of his company by Dollar Tree Inc..
Last year Hertz adopted a so-called poison pill to prevent any one shareholder from gaining control of the company as activist investors began circling.
BOSTON, Aug 20- Billionaire investor Carl Icahn said on Wednesday that he owns an 8.5 percent stake in Hertz Global Holdings Inc and plans to pressure the rental car company's management over accounting issues and operational failures.
HELENA, Mont.— The trustee representing Yellowstone Club creditors offered a reward Wednesday to anyone who can help uncover property or bank accounts the luxury resort's co-founder might have hidden from bankruptcy proceedings.
Aug 20- Struggling department store chain Sears Canada Inc reported its ninth loss in 14 quarters as sales continued to decline. Hedge fund billionaire Eddie Lampert and his Sears Holdings Corp said in May they were looking to sell their 51 percent stake in Sears Canada.
GENEVA— Commodities and mining group Glencore PLC says it will buy back up to $1 billion of its own shares as profit for the first half of the year rose 8 percent. The Swiss-based company, which created an industry giant through the merger between Glencore and Xstrata, says the repurchasing of shares will run through the end of March.
NEW YORK/ BOSTON, Aug 20- A few months ago, an innovative partnership between Valeant Pharmaceuticals and billionaire investor William Ackman to buy Botox maker Allergan Inc looked like a blueprint for success.
Aug 19- Kroger Co, the largest U.S. supermarket operator, is the latest high-profile company caught in the battle over gun rights and gun control in the United States.
A federal judge in Orange County on Monday rejected the effort to obtain about $44 million from the estate of Texas billionaire J. Howard Marshall, whom Smith married in 1994 when he was 89 and she was 26. The oil tycoon died the next year.
TALLAHASSEE, Fla.— A California billionaire environmentalist is pouring millions of dollars into the Florida governor's race to buy television ads attacking Gov. Former hedge fund manager Tom Steyer has put both Scott and the Florida Republican Party on the defensive, prompting them to hit back with their own ads attacking Steyer as a hypocrite.
Icahn has pushed Family Dollar to sell itself to Dollar General and has been openly critical of Family Dollar Chief Executive Howard Levine, who would have retained his position after an acquisition by Dollar Tree.
Aug 18- Dollar General Corp offered to buy Family Dollar Stores Inc for $8.95 billion, trumping an offer by Dollar Tree Inc, to strengthen its position as the No. 1 U.S. discount retailer. Both Dollar General and Dollar Tree have some capacity to go a little bit higher with the offer price, " Telsey Advisory Group analyst Joseph Feldman said.
Aug 18- Discount retailer Dollar General Corp offered to buy Family Dollar Stores Inc for $8.95 billion, trumping an offer by Dollar Tree Inc.. Dollar General's offer of $78.50 per share in cash represents a premium of 3.2 percent to Family Dollar's Friday close.
HOUSTON— Increasing workers' earning power and offering Latino-owned companies easier access to funding that can be used for growth and expansion can help improve the social and economic status of Latinos in the U.S. and throughout Latin America, Mexican billionaire Carlos Slim told a group of religious and community leaders Sunday.
OMAHA, Neb.— In a story Aug. 14 about changes to Berkshire Hathaway's stock portfolio, The Associated Press reported erroneously the company had reduced its stake in engineering and construction firm Chicago Bridge& Iron Co. by 1.1 million shares. Berkshire Hathaway has increased its position in Chicago Bridge& Iron by 1.2 million shares.
Gannett Co. Inc. announced plans to split off its print division before activist investor Carl Icahn could start pushing the media company in that direction, according to a recent regulatory filing. Companies controlled by Icahn have accumulated a collective 6.63 percent stake in Gannett.