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Millionaires & Billionaires Billionaires

  • AMSTERDAM/ LONDON, June 26- When billionaire activist investor Daniel Loeb wanted to give his arguments against Nestle's performance greater credibility and heft, he turned to one of Europe's most experienced turnaround experts, Dutchman Jan Bennink. Loeb's fund, Third Point LLC, disclosed a $3.5 billion stake in the Swiss food group in a letter to its...

  • *Hedge fund takes $3.5 bln stake, pushes for change. LONDON/ NEW YORK, June 26- U.S. activist shareholder Third Point LLC has targeted Nestle by taking a $3.5 billion stake in the food maker and urging Europe's most valuable company to boost returns as demand for its products weakens. Third Point's 40 million shares- or 1.3 percent of the total- make it Nestle's...

  • *Hedge fund takes $3.5 bln stake, pushes for change. LONDON/ NEW YORK, June 26- U.S. activist shareholder Third Point LLC has targeted Nestle by taking a $3.5 billion stake in the food maker and urging Europe's most valuable company to boost returns as demand for its products weakens. Third Point's 40 million shares-- or 1.3 percent of the total-- make it Nestle's...

  • TORONTO, June 26- Canada's main stock index fell on Monday as declines in heavyweight sectors such as energy and materials outweighed moderate gains in a number of other groups. Agnico Eagle Mines Ltd slumped 2 percent to C $62.17, while Goldcorp Inc fell 1.2 percent to C $18.07. At 10:41 a.m. ET, the Toronto Stock Exchange's S&P/TSX composite index fell 36.41...

  • LONDON, June 26- Russian billionaire Mikhail Fridman's L1 Retail has agreed to buy Britain's Holland& Barrett for 1.77 billion pounds in its first acquisition, betting on continued growth and expansion abroad for the health foods chain. L1 Retail, part of Fridman's empire that spans investments in ride-hailing firm Uber to North Sea assets, said it expected to...

  • LONDON, June 26- Russian billionaire Mikhail Fridman's L1 Retail has agreed to buy health food and supplements chain Holland& Barrett for 1.77 billion pounds from The Nature's Bounty Co. and The Carlyle Group, the companies said in a statement. Private equity firm Carlyle acquired Nature's Bounty, including Holland& Barrett, in 2010 for $3.8 billion.

  • SHANGHAI, June 26- A Chinese court handed short jail terms to three Australian employees of Crown Resorts Ltd in a quick-fire trial following a lengthy probe into how the firm lured Chinese high-rollers to its casinos. The Australian consul general in Shanghai told reporters at the Baoshan District Court that Crown's head of international VIP gambling Jason...

  • SHANGHAI, June 26- Three Australians went on trial in China on Monday along with a dozen other Crown Resorts Ltd employees and former employees accused of gambling crimes, following a lengthy probe into how the firm lured Chinese high-rollers to its casinos. Crown does not directly run casinos in China. China has been cracking down on attempts by casinos to woo...

  • SAO PAULO, June 23- Mauricio Abadi resigned on Friday as an executive vice president of Safra National Bank of New York to join Morgan Stanley& Co, three people familiar with the situation said. The other two said he often disagreed over strategy with Chief Executive Officer Simoni Morato. Forbes Magazine ranks the Brazilian-Lebanese banker as the world's...

  • TORONTO, June 23- Canada's main stock index rallied on Friday as index heavyweights like energy and mining shone, while BlackBerry Ltd shares suffered its biggest one-day drop in 2-1/ 2 years after disappointing first quarter sales. Enbridge Inc rose 1.2 percent to C $52.22, while Suncor Energy advanced 1.1 percent to C $38.52 as oil prices bounced from 10- month...

  • SAO PAULO, June 23- Brazil's agriculture minister prepared to travel to the United States on Friday to fight a ban on imports of fresh Brazilian beef, which hit shares of local meatpackers and revived concerns about the image of the world's largest beef exporter. The U.S. Department of Agriculture's ban dealt a setback to Brazil's recently opened fresh beef...

  • SAO PAULO, June 23- Brazil's agriculture minister prepared to travel to the United States on Friday to fight a ban on imports of fresh Brazilian beef, which hit shares of local meatpackers and revived concerns about the image of the world's largest beef exporter. The U.S. Department of Agriculture's ban dealt a setback to Brazil's recently opened fresh beef...

  • SAO PAULO, June 23- Brazil's Agriculture Minister Blairo Maggi prepared to travel to the United States on Friday to fight a ban on imports of fresh Brazilian beef, which hit shares of local meatpackers and revived concerns over the image of the world's largest exporter. But it was a setback for Brazil's recently opened fresh beef trade with the United States and...

  • EXCLUSIVE-BILLIONAIRE STRUENGMANN FAMILY HIRES JEFFERIES TO EXPLORE ALTERNATIVES FOR URUGUAY'S MEGA PHARMA, SOURCES SAY.

  • SAO PAULO, June 23- The billionaire owners of Uruguay's Mega Pharma SA have hired Jefferies LLC to explore alternatives for Latin America's No. 4 pharmaceutical company, which could include debut bond and stock offerings, two people with knowledge of the matter said. Both the Struengmanns and Mega Pharma, which has $1 billion in annual revenue and 10 factories...

  • June 22- It took less than 24 hours for Warren Buffett, one of the world's savviest dealmakers, to make a C $360 million paper profit by propping up a major Canadian lender on life support. Home Capital joined Bank of America Corp, General Electric Co, Goldman Sachs Group Inc and other companies that have welcomed Buffett's largesse, accepting a C $2 billion credit...

  • OTTAWA, June 22- Canada's main stock index rose on Thursday as the financial and resource sectors advanced, while non-bank lender Home Capital Group jumped after it said it would get a line of credit from Berkshire Hathaway Inc.. Shares of Home Capital, which nearly collapsed in April, soared 23 percent to C $18.38 after it said billionaire Warren Buffett's...

  • TORONTO, June 22- Sears Canada Inc said on Thursday it plans to cut jobs and close about a quarter of its stores as it restructures its operations after a steady decline in sales due to competition from big-box retailers and online merchants. "It's just been baby steps toward the ultimate end," said Sally Seston, managing director at Retail Category Consultants...

  • TORONTO, June 22- Sears Canada Inc said on Thursday it plans to cut jobs and close about a quarter of its stores as it restructures its operations after a steady decline in its sales due to competition from big-box retailers and online merchants. "It's just been baby steps toward the ultimate end," said Sally Seston, managing director at Retail Category Consultants...

  • Trump: 'I just don't want a poor person' running the economy

    During a speech in Iowa, Trump said he has former bank executives in his cabinet because he wants rich people to run the U.S. economy.