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Millionaires & Billionaires Billionaires

  • BERLIN, April 3- Former Volkswagen Chairman Ferdinand Piech has agreed to sell a major part of his stake in the firm that controls Europe's biggest carmaker, reducing his links with Volkswagen after more than two decades of undisputed rule. Piech's total stake in Porsche SE is worth about 1 billion euros at current market prices. The withdrawal from Porsche SE of...

  • TORONTO, March 31- Victor Li, co-chairman of Husky Energy Inc and son of one of Asia's richest men, has agreed to acquire Reliance Home Comfort, a Canadian provider of heating and cooling systems, from U.S. investment firm Alinda Capital Partners for C $2.8 billion, Reliance said on Friday. Li's acquisition comes through his CKP Canada vehicle, a unit of Hong Kong...

  • *Essar Oil deal is biggest foreign acquisition in India. *Was expected to close by March 31. NEW DELHI/ MOSCOW, March 31- The purchase of Indian refiner Essar Oil by a consortium led by Russian oil company Rosneft has been delayed by a few weeks, the two sides said on Friday, because some Indian lenders to Essar have yet to sign off on the deal.

  • CAPE CANAVERAL, Fla., March 30- A SpaceX Falcon 9 rocket recovered at sea from its maiden flight last year blasted off again from Florida on Thursday in the first successful launch of a recycled orbital-class booster, then capped the feat with another return landing on an ocean platform. It took Space Exploration Technologies Corp, as the California- based company...

  • CAPE CANAVERAL, Fla., March 30- A SpaceX Falcon 9 rocket recovered at sea from its maiden flight last year blasted off again from Florida on Thursday in the first successful launch of a recycled orbital-class booster, which scored a double feat with another return landing on an ocean platform. The unprecedented twin achievements of launching a reusable rocket...

  • CAPE CANAVERAL, Fla., March 30- A SpaceX Falcon 9 rocket recovered at sea from its maiden flight nearly a year ago blasted off again from Florida on Thursday in the first successful launch of a recycled orbital-class booster, which scored a double feat by returning to land on a floating platform at sea. The unprecedented twin achievements of launching a reusable...

  • CAPE CANAVERAL, Fla., March 30- A recycled SpaceX rocket booster recovered at sea from its first flight nearly a year ago blasted off again on Thursday from Florida on a satellite-delivery mission, then returned to land successfully on a floating platform at sea. The twin achievements of launching a reusable rocket and recovering the vehicle for a possible third...

  • George Soros

    Billionaire George Soros is a rags-to-riches immigrant investor who's gradually become No. 1 enemy of conservatives, Vocativ reports.

  • *Seeks to reduce CEO pay to below $500,000/ year. March 30- Hedge fund Sarissa Capital Management LP on Thursday sought a sharp cut in the compensation of Innoviva Inc's chief executive, the latest salvo by the activist investor in its proxy fight against the drug company. The compensation paid to the company's chief executive, Michael Aguiar, should be reduced to...

  • NEW YORK, March 30- Hedge fund manager David Einhorn's unusual plan to divide General Motors Co's shares into two classes poses a potential corporate governance minefield for GM board members. Einhorn, who runs New York- based Greenlight Capital, has pledged to fight for it at the company's annual meeting and plans to nominate a slate of directors ready to...

  • March 30- Hedge fund Sarissa Capital Management LP called for a reduction in the compensation of Innoviva Inc's chief executive and board members, firing the latest salvo in its proxy fight against the drug company. It has a 2.72 percent stake in Innoviva, according to Thomson Reuters data. The compensation paid to the company's chief executive, Michael Aguiar,...

  • March 30- Sarissa Capital Management LP called for a reduction in the compensation of Innoviva Inc's chief executive and the board- the hedge fund's latest salvo in its proxy fight with the drug company. The hedge fund said on Thursday Chief Executive Michael Aguiar's compensation should be reduced to below $500,000 per year. Sarissa owns 2.72 percent of...

  • BOSTON, March 29- Billionaire hedge fund manager William Ackman has apologized to clients for betting on Valeant Pharmaceuticals International Inc, telling them he was "deeply and profoundly sorry" for losing so much of their money on the investment. Ackman decided to sell his entire Valeant position earlier this month, suffering a roughly $4 billion loss...

  • BOSTON, March 29- Billionaire investor William Ackman told investors that betting on Valeant Pharmaceuticals International Inc was a "huge mistake" and apologized "deeply and profoundly" for losing so much of his shareholders' money on the investment. The bet on Valeant left Ackman's hedge fund Pershing Square Capital Management with back-to-back...

  • *Profits soar 28 percent to more than 10 billion yuan. HONG KONG, March 29- Fosun International Ltd, one of China's most aggressively acquisitive conglomerates, said its chief executive and vice president stepped down in a surprise reshuffle that has raised concerns over the group's strategy. The resignation of co-founder and Chief Executive Liang Xinjun and...

  • MACAU, March 29- Overseas visitors are an increasingly common sight in Chinas gambling territory of Macau which is trying to diversify an economic model that has depended on mainland high rollers for more than a decade. Now the government has hearkened calls to reposition Macau as a tourism destination, with the number of international visitors growing 8...

  • rejected a proposal by billionaire investor David Einhorn to split its common stock into two classes to help boost its share price. Einhorn, who runs hedge fund Greenlight Capital, wants management to split its common stock into two classes: one that would receive the current dividends and one that would participate in all earnings and future growth of the...

  • rejected a proposal by billionaire investor David Einhorn to split its common stock into two classes to help boost its share price, saying the plan creates unacceptable risk for the country's largest automaker. Einhorn, who runs hedge fund Greenlight Capital, wants management to split its common stock into two classes: one that would receive the current...

  • March 28- General Motors Co is being pushed by billionaire investor David Einhorn to split its common stock into two classes to help boost its share price, but the country's largest automaker swiftly rejected the plan on Tuesday. Einhorn, who runs hedge fund Greenlight Capital, wants management to split its common stock into two classes: one that would receive...

  • *Executives see scope to lure Middle East shoppers online. DUBAI, March 28- Souq.com will expand its workforce and operations after Amazon clinched a deal to buy 100 percent of the Middle East online retailer, executives from both firms said. Amazon and Souq.com said earlier on Tuesday they had agreed on the takeover, despite an eleventh-hour bid by Dubai...