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Millionaires & Billionaires Billionaires

  • BRASILIA, May 31- Brazil's central bank cut interest rates to a more than three-year low on Wednesday but said it was ready to dial down the pace of easing during a political crisis that threatens government efforts to plug a widening fiscal gap. Corruption allegations against President Michel Temer, which threaten to unseat the center-right politician and...

  • MB&F unveils $500K watch but you won't be able to buy one, they're sold out!

    CNBC's Robert Frank talks to Charris Yadigaroglou of MB&F to find out how the watchmaker has managed to buck the slumping watch sales trend with a timepiece that costs half a million dollars and is already sold out.

  • SAO PAULO, May 30- Financial markets are betting that the Brazilian government's pro-business economic agenda will move ahead even if President Michel Temer is ousted in a corruption scandal, top banking executives said on Tuesday. Temer must respond within 24 hours to federal police questions about allegations of his involvement in a sprawling political...

  • SAO PAULO, May 30- A Brazilian court ordered state-controlled oil firm Petróleo Brasileiro SA to sell natural gas to Centrais Elétricas Brasileiras SA despite the power utility's billionaire debt with the oil company. Eletrobras, as the state-controlled utility is known, plans to use the gas to begin testing a thermal power station under construction in...

  • Bezos may dethrone Gates as the world's richest man

    Amazon CEO Jeff Bezos is within striking distance of becoming the world's richest man.

  • Billionaire investor Steven Cohen plans $20 billion hedge-fund comeback

    The hedge fund deal could come as early as 2018, according to the Wall Street Journal.

  • May 29- Canada's Husky Energy Inc said on Monday it is proceeding with its long-delayed C $2.2 billion West White Rose project off the Atlantic coast, even as the energy downturn makes the high-cost project less attractive. The company, which is controlled by Hong Kong billionaire Li Ka- shing, also said that a new oil discovery has been made at the Northwest White...

  • MILAN, May 29- European shares inched lower in quiet trading on Monday with Italian stocks left behind as talk over a possible early election weighed, hitting banks. Activity was reduced as holidays in major markets such Britain and the United States kept investors away. Weekend reports that Italy's main parties could converge on a proportional electoral law...

  • CASCAIS, Portugal, May 29- Confusion surrounding the trade policies of U.S. "Right now we don't know whether we are friendly with Mexico, whether we are friendly with Canada, whether we are friendly with China, whether we are friendly with Russia," Hassenfeld said. Trump has said he wants to renegotiate the North American Free Trade Agreement between the United...

  • MUMBAI, May 29- Indian mobile carrier Reliance Communications' shares and bonds resumed their slide on Monday as concerns over its heavy debt load were reignited after a fourth-quarter loss that sent the company to its first full-year loss. Banking sources told Reuters that the company is running behind on some loan repayments, though Reliance-- backed by...

  • Activity was reduced as holidays in major markets such Britain and the United States kept investors away. The index of the top 50 euro zone stocks slipped 0.1 percent, while Italian blue chips fell 1.1 percent, on track to end at their lowest close in over three weeks, while Germany's DAX added 0.1 percent. Weekend reports that Italy's main parties could converge...

  • MUMBAI, May 29- Indian mobile carrier Reliance Communications Ltd saw its shares and bonds plunge on Monday after it posted a fiscal fourth-quarter loss and its first-ever full-year loss over the weekend, sparking renewed fear about its heavy debt load. Banking sources told Reuters that the company, backed by billionaire Anil Ambani and widely known as RCom, is...

  • MUMBAI, May 27- Indian mobile phone network operator Reliance Communications Ltd posted its second straight quarterly loss on Saturday, hit by the price war which has broken out in the world's second-biggest mobile market by number of users. Reliance Communications, controlled by billionaire Anil Ambani, said on Saturday it made a consolidated net loss of...

  • May 26- Billionaire Carlos Slim is looking to sell a minority stake in Telesites SAB de CV, the Mexican wireless tower company that he controls, people familiar with the matter said on Friday. It competes with American Tower Corporation in Mexico. "We see little progress in third-party usage of Telesites' towers," Itau BBA analyst Gregorio Tomassi said in a May 3...

  • BRASILIA, May 26- Brazil's interest rates will probably be cut sharply this year, the inflation target reduced and a pension overhaul approved even if a corruption scandal topples President Michel Temer, as is widely expected, a Reuters poll showed on Friday. Still, according to most of 38 forecasts in the poll, the central bank is likely to cut its benchmark...

  • BRASILIA, May 25- Brazilian President Michel Temer on Thursday sent to Congress legislation to increase the sources of financing for the country's agribusiness sector, the presidential office said in a statement.

  • MEXICO CITY, May 25- Giant Motors, an automaker partially owned by Mexican billionaire Carlos Slim, is working on a prototype electric taxi to replace the gas-guzzling cabs polluting Mexico City's air, a company executive said. Over the last few years Giant Motors and Moldex have developed and sold 500 light-weight, electric cargo trucks capable of handling up...

  • BRASILIA, May 25- Brazilian President Michel Temer on Thursday removed federal troops from the streets of the nation's capital, a day after sending in the army to contain violent protests against his scandal-plagued government. Temer's decision to send armed soldiers to Brasilia on Wednesday provoked an outpouring of criticism in a country with raw...

  • CUIABÁ, Brazil, May 25- Shares in JBS SA, the world's largest meatpacker, spiked on Thursday as speculation mounted over its strategy for weathering the fallout from a corruption scandal centered on its owners. The stock closed 23 percent higher, approaching levels last seen before the graft scandal rattled Brazil a week ago and leading gains on the benchmark...

  • BRASILIA, May 25- Brazilian President Michel Temer on Thursday removed federal troops from the streets of the nation's capital, a day after sending in the army to contain violent protests against his scandal-plagued government. Temer's decision to send armed soldiers to Brasilia on Wednesday provoked an outpouring of criticism in a country with raw...