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Millionaires & Billionaires Billionaires

  • WASHINGTON, Aug 3- The Environmental Protection Agency will reject a proposal to overhaul the U.S. biofuels program to shift blending responsibility away from refining companies, two sources familiar with the matter told Reuters on Thursday. Independent refiners had petitioned the EPA repeatedly during the administration of former President Barack...

  • WASHINGTON, Aug 3- The Environmental Protection Agency has decided to reject a proposal by billionaire investor Carl Icahn to overhaul the U.S. biofuels program in a way that shifts the responsibility for blending fuels away from oil refining companies, two sources familiar with the matter told Reuters on Thursday. Icahn, a special adviser to President Donald...

  • MEXICO CITY, Aug 3- Many Mexican companies, from dominant telecom provider America Movil to bottler Femsa, cut debts in the second quarter, helped by a stronger peso, although they are unlikely to rush to return money to investors or increase investment. America Movil, for example, shrank its net debt from 629.7 billion pesos in December to 550.8 billion pesos in...

  • MILAN, Aug 2- Online luxury retailer Yoox Net-a-Porter is open to partnerships in new markets, says its CEO Federico Marchetti, whose ultimate dream would be to sell Ferrari cars online. Last year YNAP struck a 130 million euro joint venture deal with Dubai- based billionaire Mohamed Alabbar for an online luxury retail business in the Middle East, to tap high...

  • MADRID, Aug 1- In Spain's Chinese community, Gao Ping was the ultimate immigrant success story. By 1997 Gao had opened an import business and begun building a commercial empire that would make him the highest-profile Chinese in Spain. He became a patron of the arts and cultivated political ties in Spain and in his native Zhejiang Province.

  • SAO PAULO, Aug 1- The board of Mexican dairy producer Grupo Lala SAB de CV will decide on Aug. 3 on a bid to buy control of Vigor Alimentos SA, after a commitment to acquire the Brazilian producer of yoghurt and fresh cheese was reached earlier on Tuesday. Lala said in a statement that a proposal to acquire Vigor from investment holding company J&F Investimentos SA,...

  • SAO PAULO, Aug 1- The board of Mexican dairy producer Grupo Lala SAB de CV will decide on Aug. 3 on a bid to buy control of Vigor Alimentos SA, after a commitment to buy the Brazilian producer of yogurt and fresh cheese was reached earlier on Tuesday. Lala said in a statement that a proposal to acquire Vigor from investment holding company J&F Investimentos SA,...

  • BOSTON, Aug 1- Billionaire investor David Einhorn, who has been hurt by his bet against Tesla Inc, said on Tuesday that the electric car maker is over-valued and that the company is not adequately capitalized. Performance at Einhorn's Greenlight Capital has been hurt by bets against high-flying stocks like Tesla, Amazon.com Inc and Athenahealth Inc which he...

  • MADRID, Aug 1- In Spain's Chinese community, Gao Ping was the ultimate immigrant success story. By 1997 Gao had opened an import business and begun building a commercial empire that would make him the highest-profile Chinese in Spain. He became a patron of the arts and cultivated political ties in Spain and in his native Zhejiang Province.

  • NEW YORK, July 31- Billionaire investor Carl Icahn's multimillion-dollar bet against U.S. biofuel prices is looking increasingly risky in the wake of a Friday court ruling that will likely boost the cost of complying with the program. CVR Energy, majority owned by Icahn, said Friday that its short position in the U.S. biofuels market grew to a record $279.9...

  • Mark Cuban sees a model for fixing health care - and he didn't find it in the United States

    Billionaire Mark Cuban proposes new health-care system to replace the U.S.'s beleaguered Obamacare.

  • July 30- Honeywell International Inc shares could rise nearly 13 percent to $154 in the next year, driven by strong earnings growth, Barron's said in its July 31 edition. Hedge fund Third Point LLC, run by billionaire Dan Loeb, in April said Honeywell should spin off its aerospace division, saying the separation could create more than $20 billion in shareholder...

  • NEW YORK, July 28- Jeffrey Gundlach, one of the world's best-known bond investors, has sued a California wine merchant he said sold him several dozen bottles of fake wine, including Bordeaux that experts consider among the greatest wines ever made. Gundlach raised similar claims in a separate lawsuit against Soutirage's founders Chad Meyer, Aimee Meyer, Matthew...

  • MILAN, July 28- Telecom Italia named Vivendi's Amos Genish as its general manager for operations on Friday as the French media giant tightened its grip on the Italian phone group, where it is the largest shareholder. The appointment comes after Telecom Italia parted ways with Chief Executive Flavio Cattaneo, who is leaving the company after only 16 months in the...

  • *Genish to be named Telecom Italia general manager for operations. MILAN, July 28- Telecom Italia will name Vivendi's Amos Genish as its general manager on Friday as the French media giant tightens its grip on the Italian phone group, where it is the largest shareholder. The appointment comes after Telecom Italia parted ways with Chief Executive Flavio Cattaneo,...

  • Jeff Bezos was briefly the world's richest person

    Jeff Bezos was briefly the world's richest person on Thursday.

  • NEW YORK, July 27- A U.S. jury on Thursday found Macau billionaire Ng Lap Seng guilty on charges he bribed two U.N. ambassadors to help him build a multibillion-dollar conference center. "In his unbridled pursuit of even greater personal fortune, billionaire Ng Lap Seng corrupted the highest levels of the United Nations," Acting U.S. Prosecutors accused Ng of paying...

  • NEW YORK, July 27- A U.S. jury on Thursday found Macau billionaire Ng Lap Seng guilty on charges he bribed two United Nations ambassadors to help him build a multibillion-dollar conference center. "In his unbridled pursuit of even greater personal fortune, billionaire Ng Lap Seng corrupted the highest levels of the United Nations," Acting U.S.

  • The world's largest online retailer posted second-quarter revenue of $38 billion, up 25 percent from a year earlier. Yet Seattle- based Amazon posted a 77 percent drop in quarterly income, and even said it could lose up to $400 million in operating profit during the current quarter. The company had earned 40 cents per share instead of $1.42 as analysts had...

  • NEW YORK, July 27- A U.S. jury on Thursday found Macau billionaire Ng Lap Seng guilty on charges he bribed two United Nations ambassadors to help him build a multibillion-dollar conference center. Ng, 69, was convicted on all six counts he faced, including bribery, money laundering and corruption, in the U.S. District Court in Manhattan. Prosecutors accused Ng of...