Sep 17 2008
Motorola Inc. plans to split into two companies next year amid pressure from billionaire investor Carl Icahn to break off the money-losing mobile-phone business that it pioneered 25 years ago.One company will focus on handsets and the other will sell network equipment, cable TV set-top boxes and two-way radios — businesses that are profitable and [...]
Sep 17 2008
Carl Icahn, the billionaire investor fighting for board seats at Motorola Inc. demanded access to documents that detail the strategy for turning around the money- losing mobile-phone business.Icahn filed a lawsuit today in Delaware Chancery Court in Wilmington to get the information from Motorola, the biggest U.S. mobile-phone maker. The company denied an earlier request [...]
Sep 17 2008
Billionaire investor Carl Icahn said he plans to nominate three people to Biogen Idec Inc.’s board and criticized the company’s earlier attempt to find a buyer as “flawed.”Biogen refused to let bidders talk to Irish drugmaker Elan Corp., its partner in the multiple sclerosis treatment Tysabri, Icahn said today in a regulatory filing. Biogen’s sale [...]
Sep 17 2008
Billionaire investor Carl Icahn held shares in Alcoa Inc. and Alcan Inc. in the quarter through June, during a takeover battle between the two North American aluminum producers.Icahn held 3.52 million shares of Alcoa, valued at about $143 million, and 1.18 million shares of Alcan, which were worth $95.6 million, he said in a filing [...]
Sep 17 2008
Carl Icahn’s American Real Estate Partners LP bought the billionaire investor’s stakes in his own investment-management firm for as much as $1.9 billion to consolidate holdings ranging from home retailers to hedge funds.The purchase price is $810 million of American Real Estate depositary units plus an additional payout of as much as $1.1 billion based [...]
Jul 13 2008
Years before Melinda French met and married Bill Gates, she had a love affair - with an Apple computer. ¶ She was growing up in Dallas in a hard-working middle-class family. Ray French, Melinda’s dad, stretched their budget to pay for all four children to go to college. An engineer, he started a family business [...]
Jul 11 2008
India has been familiar with global leadership in the past and has achieved one of the highest growth rates in the world in recent years, Reliance Industries chairperson Mukesh Ambani said Friday while warning against “deceptive descriptions” like the billionaires’ lists. Speaking at the India Today Conclave here, Ambani said that knowledge and human values [...]
Jul 11 2008
Billionaire Mukesh Ambani on Monday became the richest person in the world, surpassing American software czar Bill Gates, Mexican business tycoon Carlos Slim Helu and famous investment guru Warren Buffett, courtesy the bull run in the stock market.
Following a strong share price rally today in his three group companies — India’s most valued firm Reliance [...]
Jul 11 2008
Billionaire Mukesh Ambani’s Reliance Industries Ltd. and younger brother Anil’s Reliance Energy Ltd. group companies rose to records on speculation oil, gas and power investments will drive profit growth.Reliance Industries gained 3.6 percent and its unit, Reliance Petroleum Ltd. increased 8 percent on the Bombay Stock Exchange today. Anil’s Reliance Energy surged 8.3 percent, Reliance [...]
Jul 10 2008
Reliance Energy Ltd., India’s second-biggest utility by sales, plans to spend $15 billion to contribute a fourth of the additional generation capacity to be added in the country in the next five years.The investment of 600 billion rupees will help add 15,000 megawatts, Chairman Anil Ambani said at a shareholders meeting in Mumbai today. The [...]
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