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  • Oct 6- Point72 Asset Management LP, the renamed SAC Capital Advisors LP founded by billionaire Steven A. Cohen, said it will reorganize its equities business into seven units along sector and geographic lines. SAC Capital Advisors agreed to pay $1.8 billion to resolve criminal and civil probes, in what the U.S. Department of Justice said was the largest insider...

  • Oct 6- Billionaire Patrick Drahi's cable and telecoms company Altice SA is looking to acquire the Portuguese assets of Brazilian carrier Oi SA, a source familiar with the matter told Reuters. Portugal Telecom has already transferred its local assets to Oi and retains a minority stake in the enlarged carrier, Bloomberg reported on Monday, citing a source...

  • Oct 6- Hilton Worldwide Holdings Inc said it would sell its flagship Waldorf Astoria New York hotel to a Chinese insurance company for $1.95 billion, one of the highest prices per room ever paid for a U.S. hotel. Anbang Insurance Group Co Ltd will pay $1.38 million per room for the Manhattan hotel that was once home to Marilyn Monroe, in a deal that will see Hilton...

  • *Reported 2013 loss of 91.5 mln stg vs 2012 loss of 34.4 mln stg. FRANKFURT, Oct 6- Telecoms company Truphone will forge ahead with rapid expansion of its ground-breaking new business model, its chief executive said on Monday, as it seeks to reverse deepening losses stemming from heavy investment in the reinvention of its global network. "We are doing away with the...

  • LONDON/ PARIS, Oct 6- Luxury shoe maker Jimmy Choo is on course to join London's main stock market next week with a value of up to $1.1 billion, industry sources said, citing the initial price range quoted by banks arranging the sale. "Jimmy Choo is a great brand with good growth potential but it has a high capital expenditure ratio and usually we prefer fashion...

  • Oct 6- Hilton Worldwide Holdings Inc said it would sell the landmark Waldorf Astoria New York hotel to Chinese insurer Anbang Insurance Group Co Ltd for about $1.95 billion. The property is the flagship hotel of Hilton's luxury brand, Waldorf Astoria Hotels& Resorts, which owns 27 properties across cities such as Amsterdam, Chicago, and Shanghai.

  • LONDON, Oct 6- Britain's Virgin Atlantic Airways is to close its Little Red domestic airline next year, it said on Monday, less than two years after it was launched. Reconfirming that the group as a whole was on track to make a profit by the end of this year after two years of losses, Virgin Atlantic said the decision on Little Red followed a review of its network which...

  • LONDON, Oct 6- Britain's Virgin Atlantic said its domestic short-haul unit, Little Red, would cease operations in 2015, just over two years after it was launched. The airline, which is 51 percent owned by its British billionaire founder Richard Branson and 49 percent owned by U.S. carrier Delta Air Lines, said in a statement that Little Red had "not been able to make a...

  • CHICAGO, Oct 5- Sears Holdings Corp.' s deepening financial troubles have forced insurers and banks to raise the cost of guaranteeing payment to vendors, rattling the retailer's supply chain as the company heads into the key holiday season. In the past three weeks, the retailer twice has turned to its billionaire CEO Eddie Lampert's hedge fund for a cash infusion--...

  • TORONTO, Oct 3- Iamgold Corp said on Friday it will sell its niobium mine in Quebec to a group of companies led by private-equity investment firm Magris Resources for $500 million in cash so that it can focus on its core gold mining business. Toronto- based Magris Resources, led by former Barrick Gold Corp chief executive Aaron Regent, is one of a handful of...

  • Oct 3- The Trump Taj Mahal casino failed on Friday to get immediate court approval to end its union pension obligations, a key condition for a $100 million rescue plan backed by billionaire investor Carl Icahn. The setback may be only temporary for Trump Entertainment Resorts Inc, bankrupt owner of the Taj Mahal. Bankruptcy Judge Kevin Gross in Wilmington,...

  • Oct 3- Iamgold Corp said on Friday it has agreed to sell its niobium mine in Quebec to a group of companies led by investment firm Magris Resources Inc for $500 million in cash, to focus on its core gold mining business. Magris is acquiring the niobium asset in partnership with Singapore's Temasek Holdings and CEF Holdings Ltd, a Hong Kong- based investment company...

  • Oct 3- Iamgold Corp said it would sell its Niobec rare earths mine in Quebec to a group of companies led by investment company Magris Resources Inc for $500 million in cash, to focus on its core gold mining business. Iamgold, which has assets in Canada, South America and Africa, will get an additional $30 million when commercial production begins at the adjacent...

  • Oct 2- Warren Buffett, the billionaire chairman and chief executive officer of conglomerate Berkshire Hathaway Inc, praised Coca-Cola's altered executive compensation plan on Thursday. Buffett also said Burger King Worldwide Inc's $11.5 billion purchase of Tim Hortons Inc was not a tax-motivated deal. " Berkshire committed $3 billion in preferred equity...

  • Sears Holdings, which has been posting losses since mid-2012, has been closing stores, cutting inventory and selling property and assets after nearly a decade of falling sales. Shareholders of Sears Holdings will have the right to buy one share of Sears Canada for each share held, at a price of C $10.60 per share. Sears Holdings shares rose 5 percent to $26.47 on the...

  • DETROIT, Oct 1- Detroit needs to eradicate blighted properties and keep its art collection in order to thrive once it exits bankruptcy, a billionaire business leader told the city's bankruptcy trial on Wednesday. Blight grows, " Dan Gilbert, founder of Detroit- based mortgage lender Quicken Loans, said after taking the stand in the historic bankruptcy case.

  • Oct 1- Coca-Cola Co, facing criticism from Warren Buffett and other investors for its outsized employee share rewards, said it had adopted new guidelines that would limit its stock compensation plan and improve transparency.

  • RIO DE JANEIRO, Oct 1- In March 2003, three months into her tenure as Brazil's environment minister, Marina Silva gathered a half-dozen aides at the modernist ministry building in Brasilia, the capital. She told them the new government of President Luiz Inácio Lula da Silva was about to embark on a pharaonic infrastructure project for Brazil's arid Northeast.

  • The claim by Eco Agro Resources came in a court filing in U.S. District Court in North Carolina in early September in response to an August patent infringement lawsuit against it by Koch Agronomic Services.

  • RIO DE JANEIRO, Sept 30- Anglo American Plc said on Tuesday that it obtained a Brazilian license to start operating its long-delayed, $14 billion Minas-Rio iron ore mining project, which is expected to enable its first shipment of ore by year-end.