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Billionaire Saudi prince loses UK court battle over Gaddafi jet

LONDON (Reuters) – A billionaire Saudi prince lost a London court battle on Wednesday when a judge ordered that he should pay a $10-million commission linked to the sale of a luxurious private jet to former Libyan leader Muammar Gaddafi. The High Court ruling is an embarrassment for Prince Alwaleed…

Saudi prince sues Forbes for libel over claim he’s only worth $20 billion

LONDON (Reuters) – Saudi billionaire Prince Alwaleed bin Talal has sued Forbes magazine for libel in a British court, alleging its valuation of his wealth at $20 billion was short of the mark by $9.6 billion, Britain’s Guardian newspaper reported on Friday. The prince, a grandson of Saudi Arabia’s founder…

Spanish court drops rape probe against Saudi prince

MADRID — A Spanish court has dropped a probe into allegations a Saudi billionaire prince raped a model on a yacht in Ibiza three years ago, according to a ruling seen by AFP Wednesday. The case concerns Prince Alwaleed bin Talal, a nephew of King Abdullah and one of world’s…

Saudi’s Prince Alwaleed buys Twitter stake

DUBAI (Reuters) – Saudi billionaire Prince Alwaleed bin Talal, an investor in some of the world’s top companies, on Monday unveiled a $300 million stake purchase in fast-growing microblogging site Twitter, gaining another foothold in the global media industry. Alwaleed, a nephew of the Saudi king with a personal net…

Scant shareholder support for Murdoch sons

NEW YORK — Rupert Murdoch was re-elected chairman of News Corp. with 84 percent of the votes cast during last week’s shareholders meeting but other members of the board, including his sons James and Lachlan, received far less support, according to figures released on Monday. James Murdoch, seen as the…

Murdoch faces stormy AGM after hacking scandal

LOS ANGELES — Rupert Murdoch faces a firestorm Friday at his News Corporation’s annual shareholders’ meeting, amid calls for him and his sons to be ousted after the phone hacking scandal in Britain. But given that his family control about 40 percent of the shares, and that Murdoch-backing billionaire Saudi…

Two California pension funds to vote against Murdoch

NEW YORK — Two huge California pension funds said Monday they would vote against the reelection of Rupert Murdoch to the board of his media conglomerate News Corp. this week. The pension funds added their voices to a growing clamor among News Corp. shareholders for the ouster of Murdoch and…

Murdoch team faces stormy shareholders meeting

Rupert Murdoch and his leaders at News Corp. face a firestorm at Friday’s shareholders meeting amid calls for Murdoch and sons James and Lachlan to be removed from the company’s board. But given that founder Murdoch, chief executive of the media empire, and his family control about 40 percent of…

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