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  • Firtash has long-standing business connections to Russia and his companies were able to buy gas cheaply from Gazprom, the giant gas company run by allies of Russian President Vladimir Putin. "Everybody in Ukraine knows that he is the wallet to pay off Yanukovich," said Viktor Chumak, a senior Ukrainian lawmaker and the former head of the parliament's...

  • DENVER— Billionaire investor Philip Anschutz is exploring the possibility of resurrecting the Rocky Mountain News, a daily newspaper in Denver that was shuttered in 2009 after nearly 150 years in operation, according to a newspaper report. The Denver Business Journal was the first to report Tuesday that Anschutz' Clarity Media Group has posted a prototype...

  • NEW YORK, Dec 9- Billionaire news and information mogul Michael Bloomberg replaced the founding editor at his eponymous news service with Economist Editor-in-chief John Micklethwait, moving aggressively to broaden the one-time financial newswire beyond its core Wall Street audience. The announcement on Tuesday marks the latest shakeup since Michael...

  • *Italy's credit downgrade weighs on sentiment. PARIS, Dec 8- European shares fell early on Monday, trimming some of the previous session's sharp gains after soft macro data from China and Japan. "Italy's downgrade is a good reminder that Europe is far from being out of the woods.

  • HONG KONG, Dec 8- Dalian Wanda Commercial Properties Co Ltd, the world's second largest developer of shopping malls and office buildings, cut the size of its Hong Kong IPO by around a third to $3.9 billion to lure investors worried about its huge debt, analysts said. "Investors will be concerned about the debt," said Alvin Cheung, associate director at Prudential...

  • Mayor: Tax help bills should save Taj Mahal casino Monday, 8 Dec 2014 | 3:30 AM ET

    TRENTON, N.J.— A tax stabilization plan making its way through the state Legislature should keep Atlantic City's Trump Taj Mahal casino from closing, the city's mayor said. The casino's owner, Trump Entertainment Resorts, has set a Dec. 20 closing date for it. The plan approved Monday by the Senate budget committee lets the Trump Taj Mahal and Atlantic City's other...

  • Iran's president criticizes growing corruption Monday, 8 Dec 2014 | 2:30 AM ET

    TEHRAN, Iran— Iranian President Hassan Rouhani criticized growing corruption in the Islamic Republic in unusually blunt terms Monday, saying bribes once paid secretly are now being disbursed flagrantly in the open. Iran is in the middle of a plan to decentralize and privatize its economy following its 1979 Islamic Revolution. Later on Monday, Intelligence...

  • MELBOURNE, Dec 8- Societe Generale has suspended its involvement in financing a $10 billion coal mine, rail and port project being developed by India's GVK conglomerate and Australian billionaire Gina Rinehart, citing the project's years-long delay. "We have been working with Societe Generale on a specific element of the financing arrangements for our...

  • LISBON, Dec 5- Telecoms group Altice's plan to buy the Portuguese operations of Brazil's Oi for 7.4 billion euros depends on winning the backing of shareholders in Portugal Telecom SGPS, the holding company which owns 25.6 percent of Oi, a spokesman for Portugal Telecom said. Lisbon- listed Portugal Telecom SGPS is the target of a 1.2 billion-euro takeover offer...

  • NEW YORK, Dec 4- The billionaire Ronald Perelman's lawsuit accusing New York City art gallery owner Larry Gagosian of defrauding him into overpaying for a Cy Twombly painting has been thrown out by a unanimous state appeals court. Despite being a "sophisticated" plaintiff, Perelman "conducted no due diligence" to determine the value of Twombly's "Leaving Paphos...

  • Trump Entertainment settles with 2 online partners Thursday, 4 Dec 2014 | 5:41 PM ET

    ATLANTIC CITY, N.J.— Trump Entertainment Resorts is finalizing its messy divorce from two former online gambling partners. The company's settlement with Betfair, which was aligned with Trump Plaza, specifies that Betfair owns its customer data, and can use data it jointly owns with Trump Plaza for its own commercial purposes. Betfair will continue to hold a...

  • These retailers could use some holiday cheer Thursday, 4 Dec 2014 | 4:16 PM ET

    "If you're a retailer on the edge, it's harder to maintain your viability and return to profitability because of the intense promotional environment," said Ken Perkins, president of RetailMetrics LLC., a retail research firm. The problems: The Hoffman, Illinois- based company, which operates Kmart and Sears, has been struggling for years as it faces increasingly...

  • Virgin to add new business with cruise line Thursday, 4 Dec 2014 | 3:34 PM ET

    Virgin Group, the investment group founded and owned by Branson, said Thursday that it is starting the brand's first cruise line, Virgin Cruises. It also backs Virgin Mobile, a wireless phone service, and Virgin Galactic, a space tourism company that suffered a setback when a test flight of a spaceship exploded over California in October, killing one of its pilots.

  • Rockstar yacht loses to drawbridge  Thursday, 4 Dec 2014 | 2:57 PM ET

    Rockstar energy drink billionaire founder Russ Weiner's yacht got stuck while being towed under a drawbridge, taking out part of the roof, but no one was hurt. CNBC's Robert Frank says the bridge had been declared "functionally obsolete" 4 years ago.

  • NEW YORK, Dec 4- The billionaire Ronald Perelman's lawsuit accusing New York City art gallery owner Larry Gagosian of defrauding him into overpaying for a Cy Twombly painting has been thrown out by a unanimous state appeals court. Despite being a "sophisticated" plaintiff, Perelman "conducted no due diligence" to determine what Twombly's "Leaving Paphos Ringed...

  • Battle for Club Med tests regulator's patience Thursday, 4 Dec 2014 | 9:52 AM ET

    *Club Med tussle is France's longest takeover battle. PARIS, Dec 4- France's financial regulator is speeding up the auction for Club Mediterranee in an effort to end the uncertainty for shareholders, but is likely to hold back from asking for sealed bids for now due to legal risks of a possible tie, lawyers said. The first dates back to May 2013, and the latest was on Dec....

  • LONDON, Dec 4- Bidders including Borealis, Macquarie and Cheung Kong Infrastructure Holdings are lining up multi-billion dollar bids for Fortum's Swedish power grid ahead of a mid-December deadline, sources familiar with the matter told Reuters. Finland's state-controlled utility Fortum is selling its Swedish power grid, which is seen fetching around 6...

  • New York state Thruway Authority chairman resigns Thursday, 4 Dec 2014 | 7:50 AM ET

    Andrew Cuomo to oversee the Thruway Authority has resigned as the agency deals with the fallout from how it handled last month's massive snowstorm in western New York. Andrew Cuomo that in nearly four years they reorganized staffing and management at the authority and the state Canal Corp. and have begun the historic project to build a new Tappan Zee Bridge,...

  • Sears 3Q loss widens as retailer reshapes itself Thursday, 4 Dec 2014 | 6:31 AM ET

    The Hoffman Estates, Illinois- based company, which operates Kmart and Sears, said it has raised $2.2 billion so far this year. Still, Sears' third-quarter loss widened on a 13 percent revenue decline. Lampert combined Sears and Kmart in 2005, about two years after he helped bring Kmart out of bankruptcy.

  • Japan's Softbank invests $250 million in GrabTaxi Thursday, 4 Dec 2014 | 1:11 AM ET

    KUALA LUMPUR, Malaysia— Japanese telecommunications and Internet company Softbank Corp. has invested $250 million in GrabTaxi, one of Southeast Asia's top taxi hailing apps. GrabTaxi Chief Executive and founder Anthony Tan said SoftBank's partnership brings total investment in the company to almost $340 million. It was an early in investor in Alibaba, the...