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Millionaires & Billionaires Billionaires

  • Aug 14- Activist investor Pershing Square Capital Management LP said on Monday the chief executive of Automatic Data Processing Inc had "unfairly characterized" their interactions in an effort to make the hedge fund's requests "appear unreasonable". Pershing, led by billionaire investor William Ackman, said on Monday it had not sought effective control of ADP...

  • NEW YORK, Aug 14- Several big-name hedge fund investors trimmed their stakes in healthcare companies in the second quarter as the sector led the broad U.S. stock market higher, rallying as Republican efforts to repeal and replace President Obama' s signature healthcare law dimmed. New York- based Jana Partners sold all of its shares in nine healthcare companies,...

  • JERUSALEM, Aug 14- Israeli telecoms company Bezeq said its acting chairman David Granot had been released after being briefly detained by police on Monday. One of the others was Israeli billionaire Beny Steinmetz, a source briefed on the investigation told Reuters. News of Granot's detention sent shares in Bezeq, Israel's largest telecoms firm, down 1.5...

  • Elon Musk issues a stark warning about A.I., calls it a bigger threat than North Korea

    Tesla's billionaire CEO renewed his critique of artificial intelligence, saying that if you're not concerned, 'you should be.'

  • SHANGHAI/ BEIJING, Aug 12- China on Saturday freed one of the last remaining Crown Resorts Ltd executives jailed for illegally promoting gambling, as a protracted saga that forced the Australian casino operator to cancel global expansion plans and hurt profits nears an end. Jason O'Connor, head of international VIP gambling with the casino giant, was released...

  • SHANGHAI/ BEIJING, Aug 12- China on Saturday freed one of the last remaining Crown Resorts Ltd executives jailed for illegally promoting gambling, as a protracted saga that forced the Australian casino operator to cancel global expansion plans and hurt profits nears an end. Jason O'Connor, head of international VIP gambling with the casino giant, was released...

  • MOSCOW, Aug 11- Russian aluminium giant Rusal said tycoon Mikhail Prokhorov has agreed to sell around a 7 percent stake to billionaire Viktor Vekselberg for $503.9 million, concluding lengthy negotiations over a sale. Once it goes through, Prokhorov's Onexim Group will retain a 6.7 percent stake in Rusal. Onexim Group declined to comment on the deal.

  • NEW YORK, Aug 10- The CEO of Automatic Data Processing Inc slammed investor William Ackman on Thursday, likening the hedge fund manager to a "spoiled brat," and skewering the billionaire's research efforts into the payroll processor. ADP CEO Carlos Rodriguez, in an interview with CNBC, called his interactions with Ackman "baffling and surreal."

  • LONDON, Aug 10- Bitcoin and other "cryptocurrencies" are big money, virtually as big as Goldman Sachs and Royal Bank of Scotland combined. The price of a single bitcoin hit an all-time high of above $3,500 this week, dragging up the value of hundreds of newer, smaller digital rivals in its wake. At the start of 2017, the total value- or market cap- of all cryptocurrencies...

  • Aug 10- Valeant Pharmaceuticals International Inc investor John Paulson trimmed his stake in the Canadian drugmaker but said he remains fully supportive of the company's leadership. New York- based hedge fund Paulson& Co cut its stake to 6 percent from 6.3 percent, reported in June, due to rebalancing of its portfolios based on asset flows.

  • LONDON, Aug 9- Hedge fund manager Crispin Odey has said he is considering withdrawing his support for Twenty-First Century Fox's attempt to take over Sky, saying he believes the 11.7 billion pound deal undervalues the British broadcaster. Odey, who is the 15th biggest Sky shareholder with a 1 percent stake according to Thomson Reuters data, had said he backed the...

  • PARIS, Aug 7- French media giant Vivendi said on Monday it has no "de facto control" over Telecom Italia under Italian law. Italy's government is looking into whether Vivendi breached an obligation to notify Rome of its "direction" role at Telecom Italia, a company considered a strategic national asset. In an interview with newspaper La Stampa last month, the...

  • Aug 7- Private massages are one indulgence that Macau real estate developer Ng Lap Seng must forgo as a condition of staying in his luxury Manhattan apartment after being convicted of bribing United Nations officials, a U.S. judge ruled on Monday. District Judge Vernon Broderick in Manhattan said at a court hearing that the 69- year-old billionaire could no...

  • PARIS, Aug 7- Vivendi has no "de facto control" over Telecom Italia under Italian law, the French media group said on Monday in response to a demand from Italy's markets regulator. However, Bollore's growing influence has come under increased scrutiny from Italian authorities because the telecoms operator is considered a strategic asset by Rome.

  • MILAN, Aug 7- Italy's new telecoms network company Open Fiber would be in a good position to buy Telecom Italia's network, it said on Monday, adding to a growing debate on whether the former phone monopoly should sell its most prized asset. Telecom Italia and Open Fiber, which was founded at the end of 2015, are building competing fast internet networks across Italy,...

  • MILAN, Aug 7- Italy's new telecoms network company Open Fiber would be in a good position to buy Telecom Italia's network, it said on Monday, adding to a growing debate on whether the former phone monopoly should sell its most prized asset. Telecom Italia and Open Fiber, which was founded at the end of 2015, are building competing fast internet networks across Italy,...

  • Aug 4- Billionaire investor William Ackman on Friday said his hedge fund had taken an 8 percent stake in Automatic Data Processing Inc and plans to ask for board seats so he can push the U.S. human resources outsourcing company to cut costs and improve its returns. Ackman's move on ADP, which has a market value of about $50 billion, comes as the leader of Pershing...

  • BOSTON, Aug 4- Billionaire investor William Ackman on Friday said his Pershing Square Capital Management hedge fund plans to nominate directors to, but not try to control, the 10- person board at payroll services company Automatic Data Processing Inc..

  • Aug 4- William Ackman's Pershing Square Capital Management is seeking effective control of Automatic Data Processing Inc by nominating five directors to its board, the HR services provider said in a statement on Friday. The hedge fund, controlled by billionaire investor Ackman, has also urged the company to replace its Chief Executive Carlos Rodriguez.

  • Aug 4- Automatic Data Processing Inc said hedge fund Pershing Square Capital Management is seeking effective control of the HR services provider by nominating five directors to its board. The hedge fund, controlled by billionaire investor William Ackman, has also urged the company to replace its Chief Executive Carlos Rodriguez. "Ackman requested that ADP...