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  • *Ties between Russia and West tense over Ukraine. The probe into Gennady Timchenko, a co-founder of the Gunvor trading house who is also under sanctions over the crisis in Ukraine, is likely to increase tension between Moscow and the West in their worst standoff since the Cold War. Timchenko was among the first Russians to face sanctions imposed following...

  • *Georgia seeks balance in ties with Russia and West. TBILISI, Nov 6- Georgia's prime minister declared on Thursday the defection of one of the six parties in the ruling coalition would not destabilise his government which, he said, would still command a majority in parliament. The tensions in the coalition highlight Georgia's difficulties trying to pursue its...

  • NASDAQ Dubai to promote Egyptian firms' dual listings Thursday, 6 Nov 2014 | 5:08 AM ET

    "This will reduce risk for investors," Salam told reporters, estimating that UAE investment in Egypt's stock market now totalled about 14 billion Egyptian pounds. He declined to comment on specifics, but Amsterdam- listed OCI, controlled by Egypt's billionaire Sawiris family, said on Thursday it planned to spin off its construction and engineering business and...

  • Nov 5- U.S. prosecutors have launched a money-laundering investigation into a member of Russian President Vladimir Putin's inner circle, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. According to the report, the U.S. Attorney's Office for the Eastern District of New York is probing whether billionaire Russian gas...

  • Under the 2010 Dodd-Frank law, the SEC gained power to pursue more enforcement cases in-house, whereby trials are decided by staff SEC judges rather than juries. While the agency might be tempted to turn to SEC administrative judges to avoid trial defeats like in the insider trading action against billionaire Mark Cuban, the courts have "functioned very...

  • LONDON, Nov 4- A deal to rescue the UK's Milford Haven oil refinery has collapsed, forcing operator Murphy Oil to shut the plant with the loss of hundreds of jobs, the latest victim of a slump in the European refining industry. Emphasizing the political cost of jobs being axed in the run up to a UK general election next year, British Prime Minister David Cameron called...

  • The pro-reform camp drew in more than $1.4 million in contributions, with more than $1 million coming from Arnold, according to the Arizona Republic newspaper. Pension costs and debt were significant factors in the bankruptcies of Detroit, and of Stockton and San Bernardino in California, where bankruptcy judges have said public pensions are no longer...

  • Forbes' top power players   Wednesday, 5 Nov 2014 | 7:43 AM ET
    Forbes' top power players

    Michael Noer, Forbes executive editor, explains how the magazine comprised its list of the world's most powerful people, which includes tech titans, political leaders, and Asian powerhouses.

  • LONDON, Nov 4- A deal to rescue the UK's Milford Haven oil refinery has collapsed, operator Murphy Oil said late on Tuesday, forcing it to permanently shutter the plant as the latest victim of a deep slump in the European refining industry. Klesch Refining Limited, run by billionaire investor Gary Klesch, had agreed to buy the idled plant in July, but the deal was...

  • NEW YORK, Nov 4- Mathew Martoma, a former portfolio manager at billionaire Steven A. Cohen's SAC Capital Advisors LP hedge fund, won an order Tuesday to delay the date he would begin serving a nine-year prison term for insider trading. The 2nd U.S. Circuit Court of Appeals in New York agreed to delay Martoma's surrender date past Nov. 10 until after an appellate panel...

  • SAO PAULO, Nov 4- Grupo BTG Pactual SA missed third-quarter profit estimates on Tuesday as Latin America's largest independent investment bank grappled with an unexpected jump in taxes and a shortfall from proprietary investments that weighed on revenue. Net income at the São Paulo-based bank, controlled by billionaire financier André Esteves, declined...

  • WASHINGTON, Nov 4- When Marcelo Claure took the top job at Sprint Corp two months ago, he faced an uphill climb in turning around the No. 3 U.S. cellular provider. The Bolivian entrepreneur, who was installed as CEO after the collapse of merger talks with T-Mobile US Inc, already faced the task of stemming growing subscriber defections as the company seeks to upgrade...

  • JEDDAH, Saudi Arabia, Nov 4- Saudi Arabia should set up a sovereign wealth fund to protect itself from sliding oil prices by earning higher returns from its foreign reserves, Saudi billionaire Prince Alwaleed bin Talal said on Tuesday. Brent crude oil futures sank more than $2 a barrel on Tuesday to a four-year low of $82.32, a day after Saudi Arabia cut its official...

  • LAGOS, Nov 4- Nigeria's main share index hit a 13- month low and government bonds fell on Tuesday as foreign investors pulled out of Nigerian assets, prompting the central bank to sell dollars to support the ailing naira. Nigeria's currency has come under pressure in the past two months from falling global oil prices, dampening appetite for assets in Africa's...

  • CAIRO, Nov 4- Egyptian billionaire Nassef Sawiris said on Tuesday his company, OCI, would make "huge" investments in Egypt following the resolution of a tax dispute between its subsidiary, Orascom Construction Industries, and the tax authority. The company said earlier in the day it had won its appeal in a two-year tax evasion dispute relating to the sale of assets...

  • CAIRO, Nov 4- Egyptian billionaire Nassef Sawiris said on Tuesday his company, OCI, would make "huge" investments in Egypt following the resolution of a tax dispute between its subsidiary, Orascom Construction Industries, and the tax authority. "Our first investment is going to be presented to the government this week for a multi-billion dollar project related to...

  • BEIJING, Nov 4- China has contributed over $120 million to fight the spread of the Ebola virus, but its billionaire tycoons- it has more than anywhere outside the United States- have, publicly at least, donated little to the cause, underscoring an immature culture of philanthropy in the world's second-biggest economy. Many big Chinese companies have invested in...

  • MOJAVE, Calif., Nov 3- A human-factors expert will join the investigation of the fatal crash of Virgin Galactic's passenger spacecraft to study why the co-pilot prematurely unlocked a pivoting tail section of the ship during a test flight, the National Transportation Safety Board chairman said on Monday. Video footage from the cockpit shows co-pilot Michael...

  • NEW YORK, Nov 3- Daniel Pollack, the court-appointed mediator in the debt dispute between Argentina and holdout creditors, has been given broad authority to grant other investors a seat at the negotiating table in an effort to agree on a comprehensive settlement. District Judge Thomas Griesa issued the order on Monday giving Pollack, known officially as the...

  • Nov 3- Energy and climate are central issues on some of the tightest U.S. Senate races of 2014 and have created a surge in spending by outside groups. First-term Democrat Mark Begich has stood behind actions by President Obama' s Environmental Protection Agency, including a decision to limit development of the massive Pebble Mine project in the state because it...