In 1988, Wang left the army and borrowed 1 million yuan to start a real estate company in Dalian, northeast China. He attracted global firms such as Wal-Mart Stores Inc and Macquarie Group as partners. Now the company that pioneered mixed-use commercial developments in China is making its market debut on Tuesday in Hong Kong's biggest stock listing since 2010,...» Read More
Herbalife shares rose more than 17 percent to $63.29 in heavy volumes, more than recovering the losses made Monday after Ackman told CNBC he would expose Herbalife as an "incredible fraud" and deal the company a "death blow."
NEW YORK, July 22- Billionaire investor William Ackman fired another volley on Tuesday in his 19- month-long war against Herbalife, this time taking aim at the company's use of nutrition clubs for recruiting, claiming they violate U.S. labor laws.
Russian oligarchs are terrified of potential sanctions for their country's politics. CNBC's Robert Frank has the details.
CNBC's Robert Frank reports pressure is growing for the Oligarchs to pay a price for Russia's politics.
July 21- Steel Dynamics Inc will buy Severstal's mini-mill in Columbus, Michigan for $1.62 billion in cash, and AK Steel will buy the Russian steelmaker's assets in Dearborn, Michigan for $700 million in cash. Last month, CEO Alexey Mordashov said that selling the U.S. assets could help decrease Severstal's debt and make the company a lot more profitable.
--Clyde Russell is a Reuters columnist. LAUNCESTON, Australia, July 21- Australian lawmakers have voted to dump a tax that was arguably working and keep one that is demonstrably failing in yet another example of petty politics trumping sensible policy.
July 18- Sotheby's said it would cut an unspecified number of jobs to cut cost, months after ending a long-running battle with billionaire investor Daniel Loeb by appointing him to its board. Sotheby's shares rose 3 percent to $39 on the New York Stock Exchange on Friday.
The plan, mainly impacting the auction house's U.S. and UK operations, will result in employee-related restructuring charges of about $13 million to be recognized in the third quarter, the company said.
*Angola admits "bad" loans in local unit's credit portfolio. LISBON/ JOHANNESBURG, July 18- Angola has broken its silence over its connection to Portugal's troubled Banco Espirito Santo, but its admission of bad loans in the local subsidiary focuses attention on a generous state guarantee covering most of this flawed loan portfolio.
*BSkyB in talks to buy into Germany, Italy. LONDON, July 17- U.S.-based cable group Liberty Global has bought BSkyB's 6.4 percent stake in ITV, Britain's biggest free-to-air commercial broadcaster, boosting its shares on hopes of a wider bid.
*BSkyB in talks to buy into Germany, Italy. LONDON, July 17- John Malone's cable group Liberty Global has bought a 6.4 percent stake in ITV from BSkyB, lifting shares in Britain's biggest free-to-air commercial broadcaster on hopes of a wider bid.
LONDON, July 17- Britain's pay-TV group BSkyB has sold a 6.4 percent stake in free-to-air broadcaster ITV to cable group Liberty Global, raising cash ahead of a possible deal to expand in Europe. BSkyB, which is in talks to buy Rupert Murdoch's Sky Italia and Sky Deutschland to create a European pay-TV powerhouse, said it had sold the stake for 481 million pounds.
SYDNEY, July 17- An Australian court on Thursday approved the takeover of Australia's David Jones Ltd by South Africa's Woolworths Holdings Ltd, clearing a final hurdle for the $2 billion deal. Shareholders of both companies have already voted in favour of the A $4.00 per share bid for Australia' No.2 department store by sales.
The billionaire investors, who have been at odds over nutrition and diet company Herbalife, made up in public on Wednesday, ending a decade long feud that exploded on cable television 18 months ago.
NEW YORK, July 16- Billionaire investor John Paulson on Wednesday called Valeant Pharmaceuticals International Inc a "very serious acquirer" and predicted that Allergan Inc cannot rebuff the drug maker on its own.
NEW YORK, July 16- Billionaire investor Stanley Druckenmiller took another swipe at U.S. central bank policies on Wednesday, warning that continued low interest rates were too risky and could create fresh problems in the years ahead.
July 15- Warren Buffett this week donated $2.8 billion of Berkshire Hathaway Inc stock to five charities, as part of the billionaire's plan to give away nearly all of his wealth. About 16.6 million shares, worth more than $2.1 billion, went to the Bill and Melinda Gates Foundation, which focuses on education, health and poverty problems.
Controlling around 70 percent of Mexico's mobile market and more than 60 percent of landlines, Slim's America Movil has been blamed for overcharging consumers for patchy service since he bought a former state-run phone monopoly in the early 1990 s.
Legendary hedge fund manager Leon Cooperman's Omega Advisors has $10.7 billion in assets. In this collection of interviews, the Bronx-born, tough-talking, no-nonsense billionaire, shares his favorite stocks; why he really sold GM and his definition of having it all.
MEXICO CITY, July 14- Carlos Slim's America Movil said on Monday it will take control of just over half of Telekom Austria in a $1 billion buyout offer, giving the Mexican billionaire a base to build up his presence in European telecoms.