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  • Scaife children to file next month in trust beef Wednesday, 17 Dec 2014 | 12:39 PM ET

    PITTSBURGH— A judge has given the children of late billionaire newspaper publisher Richard Mellon Scaife until Jan. 16 to file documents in their quest to have trustees detail how money was spent from a $210 million trust their father controlled. Scaife's children, Jennie Scaife, of Palm Beach, Florida, and David Scaife, of Pittsburgh, believe they were entitled...

  • Dec 17- Canadian oil producers Husky Energy Inc and Penn West Petroleum Ltd slashed their 2015 capital budgets due to a slide in crude oil prices. Penn West, one of Canada's largest conventional oil producers, also cut its dividend to 3 Canadian cents per share from 14 Canadian cents. Penn West and Husky join several Canadian oil producers such as Cenovus Energy...

  • Dec 17- Husky Energy Inc, Canada's No. 3 integrated oil company, said it expects its capital spending to drop by a third in 2015 compared with 2014, becoming the latest Canadian producer to scale back spending as oil prices fall. Husky, controlled by Hong Kong billionaire Li Ka- shing, said it would spend about $3.4 billion in 2015, with about three-quarters going...

  • Cash-strapped Indian airline SpiceJet grounded Wednesday, 17 Dec 2014 | 2:28 AM ET

    NEW DELHI— Low-cost Indian airline SpiceJet grounded all flights Wednesday after oil companies stopped supplies of jet fuel to the financially beleaguered carrier. India's civil aviation ministry Tuesday asked state-owned oil companies and airport operators to extend credit to SpiceJet for 15 days to prevent the airline from shutting down.

  • HONG KONG, Dec 17- The billionaire behind shopping mall developer Dalian Wanda says China's era of rapid urbanisation will end within a decade, so he is speeding up his company's shift toward tourism and entertainment after a $3.7 billion initial public offering. Wang Jianlin became China's fourth-richest man in part by following the migration of 300 million...

  • Kansas firm moves ahead on wind as rule is debated Tuesday, 16 Dec 2014 | 4:58 PM ET

    TOPEKA, Kan.— Kansas' largest electric company announced plans Tuesday to buy power from a wind farm under development to meet a state renewable-energy mandate, as legislators prepared for another debate over repealing the requirement. Westar Energy Inc. said it expects Cedar Bluffs in Ness and Trego counties in western Kansas to start generating power by the...

  • Look who Steven A. Cohen wants to hire Tuesday, 16 Dec 2014 | 9:12 AM ET
    Steven Cohen

    Steven A. Cohen beat them, and now he wants them to join him. The New York Times reports.

  • MUMBAI, Dec 16- An Indian court asked for further investigation into an illegal coalfield allocation case involving Hindalco Industries on Tuesday, rejecting an earlier report from the federal police that said the probe was likely to be closed. The Central Bureau of Investigation said in August it was likely to close the case against Hindalco's billionaire...

  • Casino union defies deadline in Taj Mahal showdown Monday, 15 Dec 2014 | 5:26 PM ET

    ATLANTIC CITY, N.J.— A casino workers union in Atlantic City defied a company-imposed deadline Monday to withdraw its appeal of a court-ordered, cost-cutting package. Local 54 of the Unite-HERE union ignored the deadline imposed last week by Trump Entertainment Resorts to withdraw its appeal of a bankruptcy court order that terminated the union contract...

  • AP NewsBreak: Golden Nugget drops tax suit threat Monday, 15 Dec 2014 | 12:46 PM ET

    TRENTON, N.J.— Atlantic City's Golden Nugget casino dropped a threat Monday to file a lawsuit blocking a package of tax relief for Atlantic City's eight casinos. The casino's general counsel, Steven Scheinthal, told The Associated Press that proposed changes to a tax bill the Golden Nugget had vehemently opposed should be enough to protect it.

  • Clinton, Bloomberg: Data will help women's issues Monday, 15 Dec 2014 | 11:25 AM ET

    NEW YORK— Former Secretary of State Hillary Rodham Clinton and former New York City Mayor Michael Bloomberg teamed up Monday to highlight the power of information in helping women worldwide and to promote a joint effort to gather more data on their health, workplace roles, childbirth and other facets of their lives. Clinton formed the initiative, called "Data 2 x"...

  • Saudi prince's news channel to go live in February Monday, 15 Dec 2014 | 6:34 AM ET

    MANAMA, Bahrain— Saudi billionaire Prince Alwaleed bin Talal's pan-Arab news channel will finally take to the airwaves early next year. The channel had previously been expected to begin operations in 2012 in Bahrain, a tiny island kingdom connected by a causeway to Saudi Arabia that is home to the U.S. Navy's 5th Fleet. Bahrain continues to face low-level unrest...

  • ABU DHABI, Dec 15- A loan of up to $800 million to help Abu Dhabi- based entrepreneur B.R. Shetty acquire a majority stake in foreign exchange operator Travelex has been completed, two sources aware of the matter said on Monday. Three other banks-- Doha Bank, National Bank of Fujairah and Commercial Bank International-- joined the loan, the first source said.

  • LONDON, Dec 12- The acrimonious divorce of Britain's most generous philanthropists, hedge fund billionaire Christopher Hohn and his estranged wife Jamie Cooper-Hohn, could lead to a split of one of the largest private charities in the world. "I am aware... that there have been discussions about the possibility of diverting funds from the UK Foundation into the U.S....

  • TOKYO, Dec 12- Japan's SoftBank Corp will soon downsize its Silicon Valley offices, people with knowledge of the matter said, signalling the company won't revive efforts to buy T-Mobile U.S. Inc.. The Japanese telecommunications company is now transferring "the bulk" of manpower out of its West Coast operations, including dispersing development engineers to...

  • UPDATE 1-Tesla says China unit head Wu resigns Friday, 12 Dec 2014 | 4:03 AM ET

    SHANGHAI, Dec 12- U.S. electric car maker Tesla Motors Inc said on Friday its China president, Veronica Wu, has resigned, without giving a reason for her departure. China's green vehicle market has attracted global players including Volkswagen AG, Nissan Motor Co Ltd and BMW. In August, the California- based company and mobile phone network operator China Unicom...

  • LISBON, Dec 12- Portugal Telecom SGPS has called a general shareholder meeting on Jan. 12 to vote on telecoms group Altice's planned acquisition of Portuguese operations from Brazil's Oi for 7.4 billion euros. PT SGPS now has no assets other than the stake in Oi and 900 million euros in defaulted debt by a bankrupt holding company of the Espirito Santo family.

  • Golden Nugget to sue over casino tax aid plan Thursday, 11 Dec 2014 | 8:36 PM ET

    The Golden Nugget said Thursday its calculations of the amount each casino would pay under a proposed payment in lieu of taxes drastically raises taxes for it, Resorts and Bally's— three of the city's smaller casinos— while giving huge tax breaks to big casinos owned or soon to be owned by billionaire Carl Icahn and gambling giant Caesars Entertainment.

  • *Fosun Intl moves to new insurance-based business model. A Club Med takeover would represent the most significant co-investment between Fosun and Fidelidade, the Portuguese insurance firm Fosun forked out $1.29 billion to buy in May, and advance Guo's goal of turning his Shanghai- based manufacturing and real estate-focused conglomerate into a...

  • NEW YORK, Dec 11- After skyrocketing to more than a thousand dollars in price late last year and attracting global attention, bitcoin, the leading digital currency, has stalled. It most recently traded at $356.26, down from a peak of $1,163 in December 2013. "There has to be some motivation that would help this whole bitcoin system explode, like really good...