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  • 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...

  • Mutual fund billionaire accused of fraud in suit Thursday, 15 Jan 2015 | 2:51 PM ET
    Franklin Templeton headquarters in San Mateo, California.

    Charles Johnson is accused of helping defraud the heir of one of the earliest investors in Franklin Resources out of $150 million. The NYT reports.

  • KUALA LUMPUR, Jan 15- Malaysia's second-richest man, Ananda Krishnan, is in talks with state firm 1 MDB to become a cornerstone investor in a long-delayed, $3 billion listing of its power assets, two people familiar with the matter said on Thursday. The reclusive billionaire, who owns holdings in many of Malaysia's biggest listed firms, is considering taking at...

  • BOGOTA, Jan 14- Facebook Inc Chief Executive Mark Zuckerberg launched a free Internet application in Colombia on Wednesday as part of a drive to bring developing markets online, but remained mute on when and if the company would look to move into China. Colombia is the first nation in Latin America and the fourth in the world to receive the new Internet.org...

  • "It's an absolutely remarkable result for a year that saw so much tumult in the gaming market," said Israel Posner, executive director of the Lloyd D. Levenson Institute of Gaming Hospitality and Tourism at Stockton College. Four casinos in Atlantic City closed in 2014. A fifth, Trump Entertainment's Taj Mahal, narrowly averted closing and remains in bankruptcy.

  • UPDATE 1-Carlos Slim becomes top NY Times shareholder Wednesday, 14 Jan 2015 | 6:11 PM ET

    Jan 14- Mexican billionaire Carlos Slim has become the largest shareholder of New York Times Co after exercising warrants to double his stake in the publisher to 16.8 percent. New York Times, controlled by the Ochs-Sulzberger family through Class B shares, paid back the loan in 2011.. New York Times intends to use cash proceeds of about $101.1 million to buy back...

  • Mexican billionaire becomes largest NY Times shareholder Wednesday, 14 Jan 2015 | 5:40 PM ET

    NEW YORK— The New York Times Co. says Mexican billionaire Carlos Slim is now the largest holder of its publicly traded shares. New York Times later refinanced the high-interest loan and paid it off three years early. The Sulzberger family controls The New York Times Co. through a trust that owns 90 percent of its Class B stock, which isn't publicly traded, and 3.8...

  • Carlos Slim becomes NY Times largest shareholder Wednesday, 14 Jan 2015 | 5:19 PM ET

    Jan 14- New York Times Co said Mexican billionaire Carlos Slim has increased his stake to 16.8 percent, becoming the largest shareholder of the company. Entities affiliated with Slim exercised warrants to acquire nearly 15.9 million shares of Class A common stock at $6.3572 per share. The New York Times Co is controlled by the Ochs-Sulzberger family through...

  • BOGOTA, Colombia— Facebook founder Mark Zuckerberg traveled to Colombia on Wednesday to bring his global Internet-access initiative to Latin America. In an event with President Juan Manuel Santos, the billionaire explained how even low-end mobile phone users in Colombia will now be able to access for free a limited number of websites thanks to a partnership...

  • Carlos Slim becomes NY Times' largest shareholder Wednesday, 14 Jan 2015 | 4:44 PM ET
    Billionaire Carlos Slim speaks during an event announcing an alliance between his philanthropic foundation and the World Wildlife Fund in Mexico City, Mexico.

    Carlos Slim Helú has more than doubled his stake in The New York Times Company, to nearly 17 percent, NYT reports.

  • ATLANTIC CITY, N.J.— Atlantic City has lost nearly half its casino revenue over the past eight years as competition in nearby states cannibalized its market and drove four casinos out of business. The last time Atlantic City's casino revenues were this low, the elder George Bush was president, singer Bobby McFerrin's advice to the world was "Don't Worry, Be Happy,"...

  • Chiquita closing North Carolina headquarters after buyout Wednesday, 14 Jan 2015 | 1:56 PM ET

    CHARLOTTE, N.C.— Chiquita Brands International is closing its corporate headquarters in North Carolina after the banana producer's buyout. The announcement comes a week after Chiquita's completed buyout for about $680 million by Brazilian juice company Cutrale Group and investment firm Safra Group, headed by Brazilian billionaire Joseph Safra.

  • Jan 14- Shipper Navigator Holdings Ltd expects continued demand for petrochemical gases in the fourth quarter to make up for a fall in liquefied petroleum gas shipments caused by the slump in oil prices, a senior executive told Reuters. But the 60 percent drop in global crude prices since June has squeezed opportunities for traders to profit from moving LPG...

  • Chiquita closing North Carolina headquarters after buyout Wednesday, 14 Jan 2015 | 1:15 PM ET

    CHARLOTTE, N.C.— Chiquita Brands International will close its corporate headquarters in North Carolina after its buyout, the banana producer said Wednesday. Chiquita's Charlotte operations where about 300 employees work will shut down over the next year to eighteen months, interim Chief Executive Officer Brian Kocher said. The announcement comes a week...

  • Threat of debt writedowns hovers over Ukraine Wednesday, 14 Jan 2015 | 12:46 PM ET

    LONDON/ KIEV, Jan 14- The collapse in Ukraine's hard currency reserves to just enough to cover five weeks of imports is threatening big government debt writedowns, rather than mere maturity extensions, being needed to put the country on its feet. A year of revolution and war has crippled Ukraine's economy, pushing the hryvnia currency to record lows.

  • DONETSK, Ukraine— Valentina Dudareva's voice cracks with despair as she stands in the snow, surveying the bombed-out windows of her apartment block in Donetsk, the separatist capital in eastern Ukraine. Cold, poor and hungry, Dudareva is among the masses of people trapped by fighting between the government and Russian-backed militias, reliant on outside help...