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Millionaires & Billionaires Billionaires

  • PARIS, Sept 20- LVMH, the world's largest luxury group, will invest more to improve its environmental credentials as fashion businesses seek to reassure shoppers who are increasingly drawn to eco-friendly brands, it said on Wednesday. LVMH, which owns fashion house Louis Vuitton and champagne maker Moet& Chandon among its 70 businesses, said its companies would...

  • BOSTON, Sept 20- Billionaire hedge fund manager William Ackman on Wednesday spoke to Main Street stockholders, asking this less affluent but hugely influential group to help him win a proxy contest at human resources outsourcing company Automatic Data Processing Inc.. One of Wall Street's biggest investors, Ackman told ADP's retail owners, who own 28 percent...

  • LONDON, Sept 20- Volcan Investments, the family trust of the chairman of diversified miner Vedanta, on Wednesday said it was increasing its stake in Anglo American but did not intend to make a bid for the entire company. Anglo American declined to comment. Anil Agarwal has previously stated he has no plans to take over Anglo American, although his family trust is now...

  • BOSTON, Sept 20- Billionaire hedge fund manager William Ackman on Wednesday spoke to Main Street stockholders, asking this less affluent but hugely influential group to help him win a proxy contest at human resources outsourcing company Automatic Data Processing Inc.. One of Wall Street's biggest investors, Ackman told ADP's retail owners, who own 28 percent...

  • LONDON, Sept 20- As the Bank of England sends its strongest signal to date that the first interest rate hike in a decade is approaching, could Britain be heading towards its first sterling crisis in a quarter of a century? That dubious record was smashed on June 24, 2016, after Britain voted to leave the European Union, but there has been little talk since of a "sterling...

  • Buffett calls pessimists about the U.S. 'out of their mind'

    Buffett said he expects the Dow Jones Industrial Average to be "over 1 million" in 100 years

  • Jeff Bezos ranks last in charitable giving among top 10 billionaires in US

    CNBC's Robert Frank reports on how the richest people in the America shared their wealth.

  • NEW YORK, Sept 19- Uncertainty about how the United States will cope with growing tumult in the world has not dampened Warren Buffett's optimism for the country's prospects over the long term-- even 100 years into the future. Buffett spoke in New York at an event celebrating the 100th anniversary of Forbes magazine, and is on the cover of an issue featuring 100 of the...

  • NEW YORK, Sept 19- Uncertainty about how the United States will cope with growing tumult in the world has not dampened Warren Buffett's optimism for the country's prospects over the long term-- even 100 years into the future. Buffett spoke in New York at an event celebrating the 100th anniversary of Forbes magazine, and is on the cover of an issue featuring 100 of the...

  • MOSCOW, Sept 19- Severstal, one of Russia's largest steelmakers, told Reuters it expects to exceed its 2017 earnings target as it benefits from rising prices for its products. Russian steelmakers such as Severstal and market leader NLMK struggled over the last two years as world steel prices plumbed 11- year lows and Russia's economic crisis sapped domestic...

  • Ineos founder, chairman and CEO Jim Ratcliffe said on Tuesday he plans to build 25,000 of the new 4 x4s a year, which will be modelled on the Defender as the design is not currently trademarked in Britain. Ratcliffe said he would invest 600 million pounds to begin output of his new off-roader from 2020-21, saying he would prefer to build in Britain but that there are...

  • PARIS, Sept 19- French online retail sales rose 13 percent to 39.5 billion euros in the first half, the French E-Commerce Federation said, highlighting the country's steps towards making France a major hub for fintech and online businesses. In June, French billionaire Xavier Niel said he felt Paris was now fully equipped to attract more innovative companies...

  • BEIJING, Sept 19- China's highest profile fugitive, exiled billionaire Guo Wengui, is under attack from a former business partner who claims Guo got him framed for crimes he says he did not commit. The officials and police involved in the case told Reuters that after an investigation that began in 2015 they had discovered that the charges against Qu were...

  • BOSTON, Sept 18- The sale of former White House communications director Anthony Scaramucci's SkyBridge Capital LLC hedge fund investment firm to a consortium that includes a Chinese buyer is still on track, with the closing date expected in late September, the firm's chief investment officer said on Monday. SkyBridge spokeswoman Woomi Yun, in an email, named...

  • NEW YORK, Sept 18- A former trader at billionaire Steven A. Cohen's former hedge fund SAC Capital Advisors LP wants to withdraw his 2013 insider trading guilty plea, saying he had forgotten about two instant messages that show he committed no crime. Richard Lee said in Monday court filings that the messages uncovered in the last few months demonstrated how his...

  • NEW YORK, Sept 18- A former trader at billionaire Steven A. Cohen's former hedge fund SAC Capital Advisors LP wants to withdraw his insider trading guilty plea, saying he had forgotten about two instant messages that show he committed no crime. Richard Lee said in Monday court filings that the messages uncovered in the last few months demonstrated how his...

  • Billionaire Elon Musk responds to unhappy Tesla customer

    Though Musk is running a handful of companies, he's not too busy to respond to a one frustrated customer.

  • LONDON/ LOS ANGELES, Sept 15- Nestle's high-priced purchase of a majority stake in California- based coffee bar chain Blue Bottle this week, highlights how big companies are seeking exposure to fast-growing premium brands driven by millenials. "There are certainly going to be further purchases at all levels of the price tier," said Matthew Barry, beverage analyst...

  • DECATUR, Ill.— A son of billionaire investor Warren Buffett was sworn in Friday as interim sheriff of Macon County in central Illinois. Dozens of friends and family were in attendance when Howard Buffett was sworn in by Macon County Circuit Judge A.G. Webber. Howard Buffett, 62, has been a Macon County undersheriff since September 2014 and has completed more than...

  • SAO PAULO, Sept 15- A member of Brazil's billionaire Batista family should be declared guilty of fostering anti-competitive practices in the domestic cattle slaughtering market more than a decade ago, a body at antitrust watchdog Cade recommended on Friday. In a post on the government's official gazette, Cade's general superintendency recommended...