Billionaire Slim Boosts Stakes in NYT as Market Slumps

About 63% of Mr. Slim’s holdings are in America Movil SAB, the largest mobile-phone carrier in the Americas. Most of his publicly disclosed wealth comes from Mexican companies he controls, including a bank, a retail chain and a construction firm.

Published

14 years ago

August 23, 2011

BusinesSuiteOnline

Billionaire Carlos Slim spent $8.8 million to boost his stakes in Saks, Inc. and The New York Times Co., adding to his biggest U.S. holdings as the stock market slumped last week.

Mr. Slim’s Inmobiliaria Carso SA investment fund bought 621,000 Saks shares on Aug. 18 for prices ranging from $7.72 to $8.01, according to regulatory filings yesterday. The Mexican billionaire paid $6.83 to $7.09 for 553,000 Times Co. shares the same day.

Named the world’s richest man for a second year in a row in March by Forbes magazine, Mr. Slim is following his long-held strategy of adding to his investments when markets slump. Mr. Slim’s publicly disclosed holdings are worth about $62 billion, according to data compiled by Bloomberg. Those holdings have declined by about $9.5 billion, or 13%, from July 29 through yesterday, in line with the Standard & Poor’s 500 Index.

Arturo Elias, Mr. Slim’s spokesman, didn’t return phone and email messages yesterday seeking comment.

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John Mahfood “I Listed on the JSE to Raise Capital for My Business”

Published

9 years ago

November 24, 2016

Managing Editor

JSE Online Trading Platform

Published

9 years ago

November 24, 2016

Managing Editor

Grace Stockholders To Vote On 3-for-1 Stock Split Today

Published

9 years ago

July 11, 2016

BusinesSuiteOnline

Shareholders of GraceKennedy Limited will this morning meet to consider and, if thought fit, approve a recommendation for a three-for-one stock split.

If approved, shareholders will receive three stocks for each one that is currently held.

According to group CEO Don Wehby, the stock units with a market price of J$115.00 per stock unit prior to the split will now increase threefold with an initial price of J$38.33 per stock unit

He says the stock split would allow GK’s stock to be made available to more investors while further enhancing the market for the shares.

Ahead of this morning’s Extraordinary General Meeting, GK last week issued 59,360 additional GK shares.

UK Loses S&P Triple A Rating

Published

9 years ago

June 27, 2016

BusinesSuiteOnline

The UK has lost its top AAA credit rating from ratings agency S&P following the country’s vote to leave the EU.

S&P says the referendum result could lead to “a deterioration of the UK’s economic performance, including its large financial services sector”.

Earlier the pound plunged to a 31-year low against the dollar, and UK markets closed lower for a second day. On Friday,

Moody’s cut the UK’s credit rating outlook to negative.

Caribbean Hotels Named In Jetsetters’ 2016 Best Of The Best

Published

9 years ago

June 27, 2016

BusinesSuiteOnline

Three Caribbean hotels have been named in US-based travel and lifestyle magazine Jetsetter’s 2016 Best of the Best awards.

The list which was published recently, highlighted the world’s 20 best hotels in categories ranging from Best Over-The-Top Luxury to Best Safari Lodge.

Included in the list were Antigua and Barbuda’s Barbuda Belle Luxury Beach Hotel, Anguilla’s Zemi Beach House Resort & Spa, and St Lucia’s BodyHoliday.