×

Millionaires & Billionaires Billionaires

  • NEW DELHI, July 23- Ground water in Vedanta Resources' south Indian copper smelter contains heavy metals exceeding limits for drinking water, India's junior minister for water resources, Arjun Ram Meghwal, told lawmakers on Monday. The smelter was shut down in May under order of the Tamil Nadu state government after 13 people died after coming under police fire...

  • BRUSSELS, July 23- U.S. private equity firm Blackstone Group has secured EU antitrust approval to acquire a majority stake in Thomson Reuters' Financial and Risk unit, the European Commission said on Monday. Blackstone is making its biggest bet since the financial crisis with the $20 billion deal which pits co-founder Stephen Schwarzman against fellow...

  • BRUSSELS, July 23- U.S. private equity firm Blackstone Group has secured EU antitrust approval to acquire a majority stake in Thomson Reuters' Financial and Risk unit, the European Commission said on Monday. Blackstone is making its biggest bet since the financial crisis with the $20 billion deal which pits co-founder Stephen Schwarzman against fellow...

  • SAO PAULO, July 20- The U.S. Treasury is open to removing Russian aluminum producer Rusal from a U.S. sanctions list, Treasury Secretary Steven Mnuchin said on Friday, adding the objective was "not to put Rusal out of business." Treasury in April imposed sanctions against billionaire Oleg Deripaska and the eight companies in which he is a large shareholder,...

  • The estimate was contained in a letter from the Federal Security Service, successor agency to the Soviet-era KGB and a driving force behind the new laws, to the Communications Ministry, according to a ministry official. According to Communications Ministry data, the total revenue earned in Russia from providing mobile and Internet telecoms services last...

  • LONDON/ TOKYO, July 19- Panasonic said it was unable to determine how much of the cobalt used in batteries it makes for Tesla cars comes from Cuba, a country subject to U.S. sanctions, and that it had suspended relations with a Canadian supplier as a result of its concerns. Two sources familiar with the matter told Reuters that some of the cobalt that Panasonic uses to...

  • WASHINGTON— The Senate Finance Committee narrowly approved on a party-line vote President Donald Trump's choice to become the new head of the IRS, with the panel's Democrats protesting the nomination because of a new IRS policy allowing some groups to hide their donors' identities. Among them are sections of the U.S. Chamber of Commerce, the National Rifle...

  • LAGOS, July 19- Nigeria's new national airline will require initial capital of between $150 million and $300 million, and the government is seeking a strategic partner to operate the carrier, the government stated in a document seen by Reuters on Thursday. Hadi Sirika, minister of state for aviation, on Wednesday said the government would not own more than five...

  • LONDON— Modern slavery is most prevalent in North Korea and other repressive regimes, but developed nations also bear responsibility for it because they import $350 billion worth of goods that are produced under suspicious circumstances, according to research released Thursday. The Global Slavery Index estimates 40.3 million people worldwide were...

  • DUBAI, United Arab Emirates— Chinese President Xi Jinping arrived in Abu Dhabi on Thursday on his first trip to the United Arab Emirates as the leader of China at a time when the two countries look to strengthen trade ties and expand investment. China and the UAE conduct some $50 billion in annual trade and ahead of the trip, the UAE's ambassador to China said the...

  • SYDNEY, July 19- Billionaire James Packer has resigned 22 Australian company directorships in the last few weeks and no longer holds any board seat in his home country, corporate records show, signalling his almost full retreat from public business life. He quit the board of his private company Consolidated Press Holdings on June 27, and corporate records show...

  • Detour said it had asked the Ontario Securities Commission to investigate Paulson, accusing it of "concerning and unlawful behavior." The hedge fund, run by billionaire John Paulson, has threatened to replace the company's board if it does not successfully explore strategic alternatives, including a sale, and look for a new chief executive.

  • July 18- Detour Gold said on Wednesday it had asked the Ontario Securities Commission to investigate activist investor Paulson and Co's campaign seeking change at the company, calling it "concerning and unlawful behavior." The hedge fund, run by billionaire John Paulson, has threatened to replace the company's board if it does not successfully explore...

  • NEW YORK, July 18- Emerging market equities and real-estate debt remain attractive at a time when most of the year's gains in the S&P 500 have already been realized, billionaire investor Howard Marks said on Wednesday at the CNBC Institutional Investor Delivering Alpha conference in New York. Emerging markets, in particular, have been "significantly hit" this...

  • July 18- Berkshire Hathaway Inc shares rallied on Wednesday after the conglomerate's board gave its billionaire chairman, Warren Buffett, more freedom to conduct stock buybacks and whittle down a $108.6 billion stockpile of cash. The company's Class A shares climbed $14,470, or 5 percent, to $302,970 in afternoon trading, while its Class B shares rose $10.32, or...

  • July 18- Berkshire Hathaway Inc shares rose on Wednesday after its board gave its billionaire chairman, Warren Buffett, more freedom to conduct stock buybacks, which the conglomerate has not done since 2012.. Class A shares of Berkshire gained $10,305, or 3.6 percent, to $298,805 in morning trading, while Class B shares rose $7.47, or 3.9 percent, to $197.88 on the...

  • MEXICO CITY, July 17- Mexico's America Movil, the largest telecommunications firm in Latin America by number of subscribers, saw its net profit slide 94 percent in the second quarter, hammered by currency-related swings. The company, which is controlled by the family of Mexican billionaire Carlos Slim, posted a net profit of 818 million Mexican pesos, down...

  • MEXICO CITY, July 17- Mexico's America Movil, the largest telecommunications firm in Latin America by number of subscribers, saw its net profit slide 94 percent in the second quarter, hammered by currency-related swings. America Movil said its performance was hurt by the U.S. dollar's gains against the currencies of Mexico and Brazil, two of its key markets.

  • July 17- Berkshire Hathaway Inc on Tuesday eliminated a restriction on its ability to buy back its own stock, a change that could help billionaire Chairman Warren Buffett deploy more of the conglomerate's cash. Berkshire's Class A shares closed Tuesday at $288,500, roughly 1.37 times its $211,184 book value per share as of March 31. "It's a somewhat significant...

  • July 17- Berkshire Hathaway Inc on Tuesday made it easier for the company to buy its own shares, a change that could help billionaire Chairman Warren Buffett deploy more of the conglomerate's cash. Its class A shares closed Tuesday at $288,500, roughly 1.37 times its book value per share of $211,184 as of March 31. "It's a somewhat significant change," said Steven...