Mexico Billionaire Carlos Slim Tightens Grip On America Movil
Mexican billionaire Carlos Slim, who already controls America Movil, tightened his grip slightly on Latin America's biggest phone company, according to a U.S. regulatory filing on Thursday that shows two companies controlled by Slim bought more shares.
Is Mexican President Pena Nieto Being Unfair To Billionaire Carlos Slim?
In the full-blown war that has erupted among Mexican telecom billionaires, the perception exists that the Mexican government of Enrique Pena Nieto is tightening the screws harder on billionaire mogul Carlos Slim Helú’s business interests than on those of fellow billionaire Emilio Azcarraga Jean.
America Movil Won't Proceed With KPN Offer; Shares Surge
MEXICO CITY (Reuters) - America Movil, Latin America's biggest phone company, said on Wednesday it would not proceed with a plan to boost its stake in KPN after the Dutch telecom's foundation blocked the Mexican company's bid. America Movil's shares soared more than 6 percent on the news.
European Stocks Rebound Amid Deal Enthusiasm
Mergers and acquisitions excitement makes for interesting trading in Europe, where indices are on the rebound. France's Alstom is rumored to be the target of General Electric's biggest ever takeover deal, while Telekom Austria rises on a confirmed $2 billion bid from Carlos Slim's America Movil. And in London mildly disappointing first-quarter results at AstraZeneca fail to dent expectations that its drugs pipeline will attract a new approach from rumored suitor Pfizer or another bidder.
Mexico Telecoms Reform Could Take Years To Unseat Slim
Tycoon Carlos Slim, under fire from regulators in his home country, has spent the last two years sniffing out deals in Europe to offset an impending regulatory shake-up of Mexican telecoms. But though the reforms are the furthest-reaching measures passed against Slim since he became the dominant force in Mexico's telecoms market more than two decades ago, they are likely to take years to erode his hold on the business.
Forbes' Top Five Billionaire Rankings for 2014
Former Microsoft MSFT Chairman Bill Gates has made it back to the top of the Forbes’ billionaires list. MarketWatch's Jim Jelter tells us who else made the top five of the list. (Photo: AP)
Forbes Unveils Billionaires List
Mexican tycoon Carlos Slim retains his position atop Forbes magazine's annual list of the world's billionaires, with an estimated worth of $69 billion (USD), placing him ahead of Bill Gates and Warren Buffett.
Gold Prices Rose the Last Time the Fed Tightened Monetary Policy
Gold prices are slightly lower ahead of the release of the Fed's latest policy-making minutes. Despite this intraday dip and the Fed's pullback in economic stimulus, the yellow metal is up about 10 percent for 2014. When asked what central bank action it would take to sink gold prices, ETF Securities U.S. research director Mike McGlone tells TheStreet's Joe Deaux that significant tightening would be necessary.
Fed Tapers, but Says Doesn't Tighten
The markets found strength in the Fed's decision to taper back its extreme monetary support of the U.S. economy- in large part because it came along with a clear commitment to keep rates low- even longer. The Federal Reserve will reduce bond purchases to $75 billion a month- from $85 billion. In his final press conference as the Chairman of the Federal Reserve- Ben Bernanke was firm- saying the tapering was not intended to be a tightening: