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CNBC's Robert Frank has been looking at IRS audits and has found some troubling trends. Frank VanderSloot, Melaleuca CEO 7 founder, shares his thoughts about his own situation.
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The Swiss bank also paid a $780 million fine in settling with the U.S. Department of Justice. Matthew Thomas of California, Himanshu Patel of Arizona and Mathilde Guetta of New York argued that UBS failed to tell them to disclose their accounts, which ranged from $500,000 to $2 million.
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LONDON, Feb 7- Climate change will not be a top issue in the United States under President Barack Obama, despite the soaring rhetoric in his Inaugural Address last month. The prospects for such legislation seemed promising before the success of the Tea Party movement getting a grip on House of Representatives control via hardline Republicans.
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HONG KONG, Feb 7- Hong Kong shares may hold steady on Thursday after a flat Wall Street session and as investors await a European Central Bank policy decision later in the day and China January trade data due on Friday.
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*More information on earnings by distributors. NEW YORK, Feb 6- Herbalife Inc disclosed more information on Wednesday about how much its U.S. distributors earn, looking to provide more clarity as it defends its business model from critics like billionaire hedge fund manager Bill Ackman.
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SAN FRANCISCO, Feb 6- Dell Inc unveiled more details of founder Michael Dell's proposed $24.4 billion buyout on Wednesday, confirming that the billionaire CEO will pony up $500 million of his own cash in return for a larger share of the company he created.
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A 24- hour general strike has been called for Feb. 20: Golden Dawn, the far-right party that targets immigrants and that stands third in the polls, held a thousands-strong rally in Athens on Saturday.
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*Hedge fund manager Bill Ackman has big short position. NEW YORK, Feb 6- Herbalife Inc, the embattled nutritional supplements company, is disclosing more information about how much its U.S. distributors earned in 2012 than it did in 2011, though the details are unlikely to satisfy critics like billionaire hedge fund manager Bill Ackman.
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Reprising his 2011 crusade, Barack Obama is calling again for eliminating "tax breaks for private jet owners," drawing criticism from the industry and opposing politicians alike.
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Shares of the nutritional-supplement company are down 20% since the hedge-fund managers duked it out on CNBC on Jan 25.
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An Australian millionaire made headlines recently by giving $50 million to Australian National University. His reason? To keep it away from his kids.
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*Herbalife could squeeze Pershing with a buyback. NEW YORK, Feb 6- For now, William Ackman is getting the better of Carl Icahn in a well-publicized grudge match between the billionaire investors over Herbalife Ltd.
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*Virgin Media deal largest and latest for Liberty Global. Liberty Global already ranks as largest cable operator in Europe.
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*Virgin Media competes with Murdoch's BSkyB in Britain. LONDON, Feb 6- John Malone's Liberty Global struck a deal on Tuesday to buy British cable group Virgin Media for about $15.75 billion in stock and cash, a move that would put the U.S. billionaire up against old rival Rupert Murdoch.
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*Putting up cash and equity to take Dell Inc private. Feb 5- Michael Dell once gave up day-to-day control of the computer company that bears his name- and everything began to go south.
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One way to look at the stock market is that it's a giant wealth creation machine, reports CNBC's Robert Frank. Art Hogan, Lazard Capital Markets; and CNBC's Michelle Caruso-Cabrera & Brian Shactman, weigh in.
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*Parties paying $13.65/ share in cash. *Microsoft putting up $2 billion loan. SAN FRANCISCO/ NEW YORK, Feb 5- Michael Dell will take Dell Inc private for $24.4 billion in the biggest leveraged buyout since the financial crisis, a deal that allows the billionaire chief executive to attempt a revival of his struggling computer company without Wall Street scrutiny.
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Michael Dell will take Dell Inc private for $24.4 billion in the biggest leveraged buyout since the financial crisis, a deal that allows the billionaire chief executive to attempt a revival of his struggling computer company without Wall Street scrutiny. (DELL-BUYOUT/, moving shortly, by Poornima Gupta, 1,300 words).
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Giving in the United States grew by a scant two percent in 2012, the slowest since the depths of the financial crisis in 2009.
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Feb 5- Michael Dell once gave up day-to-day control of the computer company that bears his name- an experiment that went poorly and ended relatively quickly. Dell Inc will go private in a $24.4 billion deal led by Michael Dell and including capital from private equity firm Silver Lake and a loan from Microsoft Corp, the parties said on Tuesday.
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*Deal allows Oracle to compete better against Cisco. *Oracle shares down 3 pct. Feb 4- Software maker Oracle Corp will buy Acme Packet Inc for $1.7 billion net of cash as billionaire CEO Larry Ellison expands into the networking equipment market long dominated by Cisco Systems Inc..