Millionaires & Billionaires Billionaires

  • Meister will join the board on Friday, expanding its size by one to 13 members, MGM said in a statement released late on Thursday. MGM's chief executive officer and chairman, Jim Murren, said the company and Meister have been holding "constructive dialog" over the last several months, and he praised the investor's track record of "helping companies maximize value...

  • NEW YORK, Jan 17- America just lost a true giant in investing legend and Vanguard Group founder Jack Bogle. The creator of the first indexed mutual fund died on Wednesday https://reut.rs/2Cu5i09 in his longtime home of Bryn Mawr, Pennsylvania. I worked as a pinsetter in the bowling alley of the Sea Girt, New Jersey fire department.

  • PARIS, Jan 17- Louis Vuitton parent owner LVMH is developing a luxury brand with singer Rihanna, in a rare move by the acquisitive group towards building a new fashion label from scratch, industry news site WWD reported on Wednesday. Paris- based LVMH- also the owner of Christian Dior and Givenchy, among a host of other luxury brands also spanning champagne and...

  • Jan 17- Sears Holdings Corp said on Thursday its chairman Eddie Lampert won a bankruptcy auction for the U.S. department store chain with an improved takeover bid of $5.2 billion, allowing the 126- year-old retailer to keep its doors open. Lampert's bid, higher than his earlier $5 billion offer, comes after weeks of deliberations that culminated in a days-long...

  • LAGOS, Jan 17- Nigerian energy firm Forte Oil plans to enter into talks to sell its power unit to its major investor, billionaire Femi Otedola, after it failed to secure a deal via a public tender. Amperion Power Distribution Company Limited, Forte's power subsidiary, paid $132 million to acquire a 414 megawatt power plant six years ago under a government-led...

  • Jan 17- Tesla Inc's customer referral incentive plan will end on Feb. 1, the electric carmaker's Chief Executive Officer Elon Musk tweeted on Thursday, citing costs. Musk tweet https://twitter.com/elonmusk/status/1085779971333705728ed that the referral program is ending because "it's adding too much cost to the cars, especially Model 3".

  • Jan 16- John Bogle, whose family's struggles during the Great Depression led him to pioneer low-cost investing and to found Vanguard Group, now the world's biggest mutual fund firm, died on Wednesday at the age of 89, Vanguard said. The cause of death was cancer, said Bogle's assistant Michael Nolan. Bogle's life in many ways was the opposite of his great fund...

  • CAPE CANAVERAL, Fla., Jan 16- Firefly Aerospace Inc, a resurgent rocket company founded by a former SpaceX engineer, plans to build a factory and launch site at Florida's Cape Canaveral Spaceport in a $52 million deal, people familiar with the project said on Wednesday. Companies like Firefly, billionaire British entrepreneur Richard Branson's Virgin Orbit, and...

  • NEW YORK, Jan 16- Sears Holdings Corp Chairman Eddie Lampert prevailed in a bankruptcy auction for the U.S. department store chain with an improved takeover bid of roughly $5.2 billion, allowing the 126- year-old retailer to keep its doors open, people familiar with the matter said Wednesday. The billionaire's proposal, made through his hedge fund ESL...

  • NEW YORK, Jan 16- Sears Holdings Corp Chairman Eddie Lampert prevailed in a bankruptcy auction for the U.S. department store chain with an improved takeover bid of roughly $5.2 billion, allowing the 126- year-old retailer to keep its doors open, people familiar with the matter said Wednesday. The billionaire proposal, made through his hedge fund ESL Investments...

  • NEW YORK, Jan 15- Negotiations between Sears Holdings Corp Chairman Eddie Lampert and the bankrupt U.S. department store operator approached a resolution late on Tuesday as the billionaire hedge fund manager faced the choice of improving his $5 billion offer for the company or ending his takeover plans, people familiar with the matter told Reuters.

  • PARIS/ LONDON, Jan 14- Pernod Ricard will meet activist hedge fund Elliott this month as the family-backed spirits firm faces pressure to improve its margins, sources familiar with the situation said. Billionaire Paul Singer's Elliott, which is being advised by French business and political establishment insider Alain Minc, is hopeful that Ricard will...

  • LONDON, Jan 14- JAB Holding Co, the private owner of coffee and restaurant businesses including Keurig Dr Pepper and Pret A Manger, will bring in three new executives as its chairman, Bart Becht, retires. JAB, which also controls coffee business Jacobs Douwe Egberts and restaurant Panera Bread, will continue to be run by Peter Harf and Olivier Goudet.

  • Jan 11- Billionaire investor Carl Icahn is building a stake in casino operator Caesars Entertainment Corp, CNBC reported https://cnb.cx/2TKjvwR on Friday, citing sources familiar with the matter. The company's shares jumped more than 7 percent in early trading. The size of Icahn's stake was not immediately known.

  • *FTSE 100 up 0.8 pct. *FTSE 250 up 0.4 pct. London's FTSE 100 rose 0.8 percent by 0925 GMT, outperforming European shares and on course to end 2019' s first full trading week with the biggest gains since September.

  • BEIJING/ SHANGHAI, Jan 11- Zhejiang Geely Holding Group said on Friday that the company has not sold any shares in German carmaker Daimler AG, denying a Bloomberg report which said the Chinese firm had cut its 9.7 percent stake by more than half. "As a long-term investor, Zhejiang Geely Holding has not sold any shares. Bloomberg reported https://bloom.bg/2ChAz68...

  • Jan 11- Chinese billionaire Li Shufu's Geely Group cut its 9.7 percent stake in carmaker Daimler AG by more than half, Bloomberg reported https://bloom.bg/2ChAz68 on Friday, citing people familiar with the matter. Li had taken a 9.69 percent stake in Daimler in 2018.. Daimler declined to comment on the report.

  • Jan 10- Sears Holdings Corp Chairman Eddie Lampert submitted a revised takeover bid of more than $5 billion for the company, according to a regulatory filing made on Thursday, significantly increasing the likelihood the U.S. department store will be able to stay in business. Sears set a Wednesday deadline for Lampert to submit a new offer for the retailer and a...

  • Jan 10- Sears Holdings Corp Chairman Eddie Lampert submitted a revised takeover bid of more than $5 billion for the company, according to a regulatory filing made on Thursday, significantly increasing the likelihood the U.S. department store will be able to stay in business. Sears set a Wednesday deadline for Lampert to submit a new offer for the retailer and a...

  • NEW YORK, Jan 9- Sears Holdings Corp Chairman Eddie Lampert submitted a revised roughly $5 billion takeover bid for the company on Wednesday, people familiar with the matter said, boosting the chances that the U.S. department store operator will escape liquidation. The billionaire's revised bid was submitted through an affiliate of his hedge fund, ESL...