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  • UPDATE 1-Icahn urges Apple to buy back more shares Thursday, 9 Oct 2014 | 9:49 AM ET

    Oct 9- Billionaire activist investor Carl Icahn said Apple Inc's shares could double in value and urged the company's board to buy back more shares using its $133 billion cash pile. "We believe Apple is dramatically undervalued in today's market, and the more shares repurchased now, the more each remaining shareholder will benefit...," Icahn said in a letter to...

  • Icahn urges Apple to repurchase more shares Thursday, 9 Oct 2014 | 8:52 AM ET

    Oct 9- Billionaire activist investor Carl Icahn urged Apple Inc's board to start a tender offer to repurchase shares using a part of its $133 billion cash pile. "We believe Apple is dramatically undervalued in today's market, and the more shares repurchased now, the more each remaining shareholder will benefit...," Icahn said in a letter to Apple's board.

  • In Kansas, funding of TV ads most mysterious Thursday, 9 Oct 2014 | 5:02 AM ET

    WASHINGTON— Political advertisers are a mystery in Kansas more than in any other state. Kansas has seen the greatest number of ads for state-level political office, such as lieutenant governors and state treasurers, from groups that do not disclose their donors. Kansas, however, is hardly alone.

  • Icahn tweets he will send open letter to Apple Wednesday, 8 Oct 2014 | 3:12 PM ET

    Oct 8- Billionaire activist investor Carl Icahn tweeted on Wednesday, saying he would send an open letter to Apple Inc on Thursday. The investor has in the past urged Apple to return more of its cash to shareholders and pressured the company to raise its stock buyback and dividend. Apple shares were up 2 percent at $100.73 in late afternoon trading.

  • NEW YORK, Oct 8- Sears Holding shares slumped on Wednesday following a report that three of the biggest insurance firms for its suppliers were seeking to reduce coverage. The report by Bloomberg News also said the move prompted at least one vendor to halt shipments to Sears. Sears stock was down 12 percent to $26.67 after falling as much as 17.3 percent, which would...

  • UPDATE 1-Brazil's Grupo Oi CEO Zeinal Bava resigns Tuesday, 7 Oct 2014 | 10:05 PM ET

    RIO DE JANEIRO, Oct 7- Brazilian telephone and wireless carrier Grupo Oi SA said its Chief Executive Officer Zeinal Bava had resigned from the company with immediate effect on Tuesday, potentially paving the way for a sale of the company's Portuguese assets. Oi is in the process of selling non-core assets to pay down its debt and allow it to better jostle for...

  • TORONTO, Oct 7- U.S. billionaire investor Wilbur Ross is looking at investing in the Canadian and U.S. energy sectors, betting a long-term recovery in oil prices will boost the fortunes of small and mid-cap companies whose shares have been battered since June. Ross, who made his name by snapping up out-of-favor assets ranging from banks to textile firms, told...

  • Laguna Niguel, Calif., Oct 7- Billionaire investor Warren Buffett on Tuesday predicted Democrat Hillary Clinton would run for the U.S. presidency in 2016 and win. "Hillary is going to run," said Buffett, the chairman and chief executive of conglomerate Berkshire Hathaway Inc, speaking at Fortune's Most Powerful Women Summit in Laguna Niguel, California.

  • Oct 7- An affiliate of Brookfield Asset Management got court approval to buy Atlantic City, New Jersey's shuttered Revel Casino Hotel for $110 million in cash on Tuesday after a judge rejected complaints the auction for the bankrupt complex was tainted. "I have heard evidence to satisfy me that the sale to Brookfield should be confirmed," said U.S. Bankruptcy...

  • *Coty agrees to buy Bourjois from Chanel. *To pay for Bourjois with 15 Class A Coty shares. PARIS, Oct 7- US cosmetics group Coty said on Tuesday it had made a binding offer to buy French make-up brand Bourjois from Chanel and give the family-owned French luxury company a stake in Coty worth an estimated $240 million.

  • Oct 7- Billionaire Carlos Slim said on Tuesday that America Movil is trying to sell assets from Mexico's west Coast and the border with the United States, not just the east coast, as part of a previously announced divestiture. Bloomberg reported in September that America Movil, Latin America's biggest telecommunications company, could unload infrastructure...

  • LONDON, Oct 7- The hullabaloo surrounding Glencore Plc's spurned approach to rival miner Rio Tinto shows why this is probably the wrong deal at the right time. Glencore's proposal to create a $160 billion behemoth is certainly audacious, and may even make sense for shareholders of both companies if priced attractively. Both of those would be tough decisions for...

  • *Glencore approached Rio Tinto about a merger in July. *Rio says no talks with Glencore after rejecting bid. MELBOURNE/ LONDON, Oct 7- Rio Tinto has rejected a takeover approach from smaller rival Glencore Plc, snubbing a blockbuster deal that would have created a $160 billion mining and commodities trading giant.

  • Oct 6- Point72 Asset Management LP, the renamed SAC Capital Advisors LP founded by billionaire Steven A. Cohen, said it will reorganize its equities business into seven units along sector and geographic lines. SAC Capital Advisors agreed to pay $1.8 billion to resolve criminal and civil probes, in what the U.S. Department of Justice said was the largest insider...

  • Oct 6- Billionaire Patrick Drahi's cable and telecoms company Altice SA is looking to acquire the Portuguese assets of Brazilian carrier Oi SA, a source familiar with the matter told Reuters. Portugal Telecom has already transferred its local assets to Oi and retains a minority stake in the enlarged carrier, Bloomberg reported on Monday, citing a source...

  • Oct 6- Hilton Worldwide Holdings Inc said it would sell its flagship Waldorf Astoria New York hotel to a Chinese insurance company for $1.95 billion, one of the highest prices per room ever paid for a U.S. hotel. Anbang Insurance Group Co Ltd will pay $1.38 million per room for the Manhattan hotel that was once home to Marilyn Monroe, in a deal that will see Hilton...

  • *Reported 2013 loss of 91.5 mln stg vs 2012 loss of 34.4 mln stg. FRANKFURT, Oct 6- Telecoms company Truphone will forge ahead with rapid expansion of its ground-breaking new business model, its chief executive said on Monday, as it seeks to reverse deepening losses stemming from heavy investment in the reinvention of its global network. "We are doing away with the...

  • LONDON/ PARIS, Oct 6- Luxury shoe maker Jimmy Choo is on course to join London's main stock market next week with a value of up to $1.1 billion, industry sources said, citing the initial price range quoted by banks arranging the sale. "Jimmy Choo is a great brand with good growth potential but it has a high capital expenditure ratio and usually we prefer fashion...

  • Oct 6- Hilton Worldwide Holdings Inc said it would sell the landmark Waldorf Astoria New York hotel to Chinese insurer Anbang Insurance Group Co Ltd for about $1.95 billion. The property is the flagship hotel of Hilton's luxury brand, Waldorf Astoria Hotels& Resorts, which owns 27 properties across cities such as Amsterdam, Chicago, and Shanghai.

  • LONDON, Oct 6- Britain's Virgin Atlantic Airways is to close its Little Red domestic airline next year, it said on Monday, less than two years after it was launched. Reconfirming that the group as a whole was on track to make a profit by the end of this year after two years of losses, Virgin Atlantic said the decision on Little Red followed a review of its network which...