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Billionaire seeks to replace 40% of Occidental’s board of directors

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7/19/2019 HOUSTON – Carl Icahn formally asked Occidental Petroleum Corp. investors to help him replace four of the company’s 10 directors and potentially push for a sale. Icahn and Occidental Chief Executive Officer Vicki Hollub spoke three times in the last six weeks both by phone and in person to discuss his ideas about corporate Read More

Icahn launches proxy fight after stalled talks with Occidental CEO

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HOUSTON (Reuters) – Activist investor Carl Icahn on Thursday formally launched a proxy fight against Occidental Petroleum (OXY.N) to win control of four board seats, according to a regulatory filing, after talks with the oil company’s chief executive failed to reach an agreement. FILE PHOTO: Billionaire activist-investor Carl Icahn gives an interview on FOX Business Read More

SoftBank and Toyota want driverless cars to change the world

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Meet ‘crazy’ tech tycoon Masayoshi Son SoftBank and Toyota want to change the world of transportation through autonomous vehicles and other technologies. The high-profile Japanese companies are forming a joint venture called Monet to develop businesses that will use driverless-car technology to offer new services, such as mobile convenience stores and delivery vehicles in which Read More

SEC reaches $60 million settlements involving ex-American Realty executives

3 days ago DieselGasoil Comments Off on SEC reaches $60 million settlements involving ex-American Realty executives
NEW YORK (Reuters) – Two former executives at American Realty Capital Properties Inc, including the onetime billionaire who built it, have reached more than $60 million in settlements with the U.S. Securities and Exchange Commission of charges they wrongfully extracted millions of dollars from the real estate investment trust. FILE PHOTO: The U.S. Securities and Read More

CQS looking to grow U.S. presence under new CEO Rolet

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(Reuters) – CQS, the London-based global multi-strategy credit-focused asset management firm with $17.7 billion in assets, is looking to grow its presence in the United States, Xavier Rolet, who took over the chief executive officer role from its founder in January, said. “The U.S. has 55% of the world’s financial assets and is the largest Read More

Guggenheim defeats lawsuit claiming it siphoned annuity unit’s cash for LA Dodgers

4 days ago DieselGasoil Comments Off on Guggenheim defeats lawsuit claiming it siphoned annuity unit’s cash for LA Dodgers
(Reuters) – Guggenheim Partners won the dismissal of a lawsuit claiming it defrauded investors in a risky annuity, and siphoned cash for purposes including to help its billionaire chief executive Mark Walter buy the Los Angeles Dodgers baseball team. In a decision on Friday, U.S. District Judge Holly Teeter in Kansas City, Kansas, rejected racketeering Read More

LVMH pairs with Stella McCartney, igniting fashion rivalries

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PARIS (Reuters) – French luxury goods group LVMH (LVMH.PA) on Monday announced a tie-up with Stella McCartney, just months after the British designer known for her animal-friendly ethics ended a long-term partnership the conglomerate’s arch-rival Kering (PRTP.PA). British designer Stella McCartney appears at the end of her Fall/Winter 2019-2020 women’s ready-to-wear collection show during Paris Read More

EU legal advice favors Vivendi in feud with Mediaset

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MILAN (Reuters) – An Italian law that forced French media group Vivendi (VIV.PA) to forfeit most of its voting rights in Italian broadcaster Mediaset (MS.MI) may not comply with European rules, according to European Commission legal advice seen by Reuters. FILE PHOTO: The Mediaset tower is seen in Cologno Monzese neighbourhood Milan, Italy, April 7, Read More

Thomas Cook turns to China’s Fosun to save oldest travel firm

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HONG KONG/LONDON (Reuters) – Thomas Cook (TCG.L) is in talks on a 750 million pound ($941 million) bailout that will give its largest investor Fosun Tourism (1992.HK) control of the indebted British group’s package-tour business, in a blow to other shareholders. Shares in Thomas Cook dropped by more than 30% to their lowest level on Read More