Beats Electronics LLC, maker of the popular headphones, received a $60 million investment led by billionaire Len Blavatnik and will use the money to invest in its planned Daisy music streaming service.
LyondellBasell Industries NV advanced the most in seven weeks in New York trading after the chemical maker’s former owner, Access Industries Holdings LLC, announced plans to buy $956.8 million of company stock.
With $14 billion from selling out of TNK-BP, Mikhail Fridman and German Khan’s Alfa Group is planning to return to the oil industry and expand worldwide, according to Stan Polovets, chief executive officer of the Alfa- Access-Renova Consortium, which owned the Russian oil venture 50:50 with BP Plc.
Bloomberg Markets’ inaugural list of the world’s richest people showcases the billionaires who pull the levers on the global economy. Their net worth totals $2.7 trillion, about the size of the gross domestic product of France, the fifth-biggest economy on the planet.
JPMorgan Chase & Co. filled a fund started by billionaire Leonard Blavatnik with risky mortgage securities instead of the conservative investments it was told to make, lawyers for Blavatnik told a New York state judge today.
Norex Petroleum Ltd. sued billionaire Leonard Blavatnik and his Access Industries Inc. over allegations they schemed to strip its controlling interest in a Russian oil company valued at an estimated $500 million.
Billionaire Len Blavatnik ’s lawsuit claiming JPMorgan Chase & Co. lost 10 percent of the $1 billion he had it manage can move forward after a state appeals court upheld a judge’s ruling that the suit shouldn’t be tossed.