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Millionaires & Billionaires Billionaires

  • NEW DELHI/ MUMBAI, Feb 16- Indian investigators raided the offices of jewellery retailer Gitanjali on Friday in a widening probe into a $1.77 billion loan fraud at state-run Punjab National Bank, the biggest bank scam in the country's history. The case is centred around diamond billionaire Nirav Modi who is accused of colluding with bank employees to...

  • *Company reported downturn at new Havas unit. PARIS, Feb 16- Vivendi shares dropped on Friday as the French media conglomerate disappointed investors by failing to offer full guidance for 2018.. Shares in Vivendi, led by French billionaire Vincent Bollore, were down 5.6 percent at 20.95 euros in early trade, the worst performer on France's benchmark CAC-40 index.

  • NEW DELHI/ MUMBAI, Feb 16- Investors may have been shocked when one of India's biggest banks disclosed a $1.77 billion fraud by a billionaire jeweller, but the central bank has recorded data that shows the problem runs far deeper and wider. Reserve Bank of India data, which a Reuters reporter obtained through a right-to-information request, shows state-run banks...

  • MUMBAI, Feb 16- Stung by a $1.77 billion fraud, Punjab National Bank shares sank for a third day on Friday, with India's second largest state-run lender losing nearly a quarter of its market value since its shock disclosure earlier this week. With investors fretting over the extent of its liability, The Economic Times newspaper reported that India's central bank...

  • OSLO/ WILMINGTON, Delaware, Feb 15- Seadrill's main owner, billionaire John Fredriksen, is close to a deal with unsecured bondholders and South Korean shipyards on a restructuring plan for the rig operator, sources familiar with the talks said on Thursday. Once the world's largest drilling rig operator by market value, Seadrill filed for bankruptcy protection...

  • PARIS, Feb 15- Vivendi's core operating profit jumped by 23 percent over the last year, driven by the strong performance of its music division and the start of a recovery at its pay-TV unit. Earnings before interest, tax and amortisation amounted to 987 million euros on total revenues of 12.4 billion euros, up 4.9 percent from a year earlier. The group, led by...

  • NEW YORK, Feb 15- Billionaire investor Steven A. Cohen asked a U.S. judge to force a female executive to arbitrate her claims that his firm, Point72 Asset Management LP, maintains a hostile working environment where women are mistreated and paid less than men. In a Wednesday night filing in the U.S. district court in Manhattan, Cohen and Point72 said the plaintiff,...

  • CAPE TOWN, Feb 15- Cyril Ramaphosa was elected as South Africa's president in a parliamentary vote on Thursday and pledged to tackle endemic corruption after scandal-ridden Jacob Zuma resigned on orders from the ruling African National Congress. Still, Zuma's departure late on Wednesday provided evidence of the strength of South Africa's democratic...

  • CAPE TOWN, Feb 15- Cyril Ramaphosa was elected as South Africa's president in a parliamentary vote on Thursday and pledged to tackle endemic corruption after scandal-ridden Jacob Zuma resigned on orders from the ruling African National Congress. Still, Zuma's departure late on Wednesday provided evidence of the strength of South Africa's democratic...

  • *Banks says $1.77 bln fraud discovered at single branch in Mumbai. NEW DELHI, Feb 15- Punjab National Bank, India's second-largest state-run lender, sought to soothe investors on Thursday after the discovery of a $1.77 billion scam at a single branch sent its shares plunging and raised fears about the scale of fraud in the sector. Investigators launched raids...

  • MUMBAI, Feb 15- India's Punjab National Bank, the second-biggest state-run lender, stunned the country's financial sector when it announced this week it had discovered fraudulent transactions worth $1.77 billion at a single branch in Mumbai. On Jan. 29, a PNB official from Mumbai filed a criminal complaint with India's federal investigative agency against...

  • CAPE TOWN, Feb 15- Cyril Ramaphosa is to be confirmed as South Africa's president in a parliamentary vote on Thursday after scandal-ridden Jacob Zuma reluctantly resigned on orders from the ruling African National Congress. South Africa's main stock market index jumped nearly 4 percent, putting it on track for its biggest one-day gain in more than two years as...

  • NEW DELHI, Feb 15- Punjab National Bank, India's second-largest state-run lender, said on Thursday it has the capability and capacity to recover after uncovering a staggering $1.77 billion fraud at one of its branches that went undetected for years. "This cancer that's been going on since 2011, we have brought it out and we are resolving it," PNB's Chief Executive...

  • NEW DELHI— Indian investigators are probing a $1.8 billion bank fraud, an official said Thursday, with a wealthy jeweler reportedly using fake bank documents to obtain overseas loans. State-owned Punjab National Bank said in a Wednesday statement that the "fraudulent and unauthorized transactions" had been discovered in January in a single Mumbai bank...

  • JOHANNESBURG, Feb 15- South Africans awoke to a nation without Jacob Zuma as president for the first time in nine years on Thursday, after the scandal-plagued head of state reluctantly resigned on orders from the ruling African National Congress. Acting president Cyril Ramaphosa is due to be confirmed as Zuma's permanent successor in a parliamentary vote at 2...

  • JOHANNESBURG, Feb 15- South Africans awoke to a nation without Jacob Zuma as president for the first time in nine years on Thursday, after the scandal-plagued head of state reluctantly resigned on orders from the ruling African National Congress. Acting president Cyril Ramaphosa is due to be confirmed as Zuma's permanent successor in a parliamentary vote at 2...

  • PNB, India's second-largest state-run lender with assets of $120 billion, disclosed the fraud in a regulatory filing on Wednesday, saying it had referred the matter to law enforcement agencies. PNB first notified India's Central Bureau of Investigation of its discovery in late January, and on Monday it issued a "caution notice" to warn other lenders about the...

  • PNB, India's second-largest state-run lender with assets of $120 billion, disclosed the fraud in a regulatory filing on Wednesday, saying it had referred the matter to law enforcement agencies. PNB first notified India's Central Bureau of Investigation of its discovery in late January, and on Monday it issued a "caution notice" to warn other lenders about the...

  • PNB, India's second-largest state-run lender with assets of $120 billion, disclosed the fraud in a regulatory filing on Wednesday, saying it had referred the matter to law enforcement agencies. PNB first notified India's Central Bureau of Investigation of its discovery in late January, and on Monday it issued a "caution notice" to warn other lenders about the...

  • NEW YORK, Feb 14- In late 2017, several well-known hedge funds made bets on companies selling goods considered non-essential by consumers and on companies processing raw materials, according to filings with the U.S. Securities and Exchange commission published on Wednesday. Greenlight Capital's David Einhorn added 13 new positions in consumer...