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Saudi Prince

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WORLD
April 15, 2013 | By Emily Alpert
A Saudi prince has renewed his argument that women should be allowed to drive, saying on Twitter that doing so would eliminate the need for hundreds of thousands of foreign drivers. Activists point out that driving is not actually legally prohibited for Saudi women, but traffic officials refuse to grant them licenses because clerics in the country forbid it. As a result, women rely on drivers to ferry them around, one of many factors pulling foreign workers into the Arab kingdom.
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BUSINESS
July 10, 2013 | By Shan Li
Britain is privatizing its Royal Mail postal service through a public stock offering within the next nine months. The step is expected as the British government has been giving the Royal Mail a big overhaul in preparation for going public, including paying its whopping $6.9-billion pension fund deficit and bolstering its profit. So far, so good. Revenue from parcel deliveries was up 13% in the last fiscal year, thanks to the growing popularity of online shopping. Overall profit climbed to $600.5 million, from $226.5 million in the previous year.
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BUSINESS
December 25, 1997 | Reuters
Saudi Arabia's Prince Alwaleed bin Talal plans to invest in Microsoft Corp. Chairman Bill Gates' Teledesic Corp., a statement from the billionaire investor's office said. "Prince Alwaleed plans to invest in a joint project with Teledesic to finance and launch a network of . . . satellites that will transmit voice, data and the Internet to cover every spot on Earth," said the statement from his office in the Saudi capital, Riyadh.
BUSINESS
June 18, 2013 | By Adolfo Flores
Playing sports can play a role in developing leadership skills for female executives, a survey from Ernst & Young found. A report summarizing the surveys results, released Tuesday, found that 55% of women in executive and top management roles played sports at a university level, compared with 39% of other female managers. The inquiry of 821 senior managers and executives at companies with annual revenues in excess of $250 million, found that almost three-quarters of women said people who engage in sports at some level or have done so work more effectively in teams than those who haven't.
WORLD
April 16, 2006 | From Times Wire Reports
Saudi Prince Sultan ibn Abdulaziz met with Pakistani President Pervez Musharraf in Islamabad for talks on regional and international issues, including the dispute over Iran's nuclear program, Pakistan's state-run news agency reported. They also exchanged views on counterterrorism efforts and the conflicts in Afghanistan, the Palestinian territories and Iraq, the Associated Press of Pakistan reported.
CALIFORNIA | LOCAL
April 8, 2011 | By Martha Groves, Los Angeles Times
A Saudi prince who outraged residents of a posh Benedict Canyon neighborhood by applying to build an 85,000-square-foot compound there has withdrawn the proposal and will instead submit plans for a smaller project, his lawyer said. Benjamin M. Reznik, a lawyer for Prince Abdulaziz ibn Abdullah ibn Abdulaziz al Saud, wrote the Los Angeles Planning Department on Thursday and informed them that his client was withdrawing the application, just one week before a public hearing was scheduled on the matter.
WORLD
October 19, 2010 | By Janet Stobart, Los Angeles Times
After an hour and a half of deliberation, a British jury on Tuesday found a Saudi prince guilty of murdering a manservant who died of head injuries early this year. Saud Abdulaziz bin Nasser al Saud, the grandson of Saudi Arabia's King Abdullah, was convicted of murder and grievous bodily harm in the death of Bandar Abdullah Abdulaziz, who was found dead in bed at the elegant Landmark London Hotel on Feb. 15. The victim had suffered broken ribs and bruises to his head and body, and there were signs of brain injuries, strangulation and bite marks to the cheek, the jury heard.
BUSINESS
November 26, 1997 | Washington Post
A billionaire Saudi prince, who has shown a knack for making big investments in U.S. companies when he thinks their stocks are bargains, has put about $850 million into Motorola Inc., Netscape Communications Inc. and Rupert Murdoch's News Corp. Prince Alwaleed bin Talal bin Abdul Aziz al Saud purchased about 5% of Netscape, the Internet software company; about 2.
NATIONAL
July 19, 2002 | From Times Wire Reports
FLORIDA * A Saudi prince used diplomatic immunity to smuggle more than 2 tons of cocaine from South America to Europe on his airplane in a trafficking conspiracy in which paintings were used to pay for drugs, U.S. officials said. The Saudi worked with Colombians and a real estate agent in Miami to ship cocaine from Caracas to Paris in 1999, the officials said.
BUSINESS
August 27, 1999 | Bloomberg News
U.S. stocks are too rich for at least one prince's royal blood. Billionaire Saudi Prince Alwaleed Bin Talal, the biggest shareholder of Citigroup Inc. and Apple Computer Inc., says the U.S. market is so expensive that he won't make any new investments for the foreseeable future. Alwaleed, 42, who estimates his fortune at $14.5 billion, said he expects a "major correction" in stocks and will wait until it occurs before buying a large stake in another company.
BUSINESS
June 14, 2013 | By Shan Li
Firearm maker Smith & Wesson Holding Corp. said its fiscal fourth-quarter results may exceed Wall Street expectations as Americans continued to buy weapons amid a countrywide debate over gun control. Preliminary data for the three months ended April 30 showed that sales jumped 38% to $179 million compared with the same period last year, the Springfield, Mass., company said. Earnings from continuing operations are expected to be 44 cents a share, up from 27 cents in the previous year.
BUSINESS
June 12, 2013 | By Shan Li
Teen retailer Abercrombie & Fitch is trying to overcome criticisms that the company excludes "uncool" customers by sponsoring an anti-bullying campaign. The clothing brand said this week it will provide college scholarships, through the National Society of High School Scholars Foundation, to young people who have persevered in the face of bullying and excelled academically. The move may not be enough to quell the backlash as shoppers slam the company for failing to carry larger sizes.
BUSINESS
June 12, 2013 | By Shan Li
Warren Buffett, otherwise known as the Oracle of Omaha, tweeted for the third time ever this week to welcome Hillary Rodham Clinton, otherwise known as the former secretary of State and first lady of the U.S., to Twitter. "Hello @Hillaryclinton!," Buffett wrote. "Happy to welcome one of my favorite women in the world to twitter. #45" By Wednesday, the chief executive of Berkshire Hathaway known for savvy investments had deleted the tweet, but not before rampant speculation that the number 45 was a not-so-subtle suggestion that Clinton run for president in 2016.
BUSINESS
June 11, 2013 | By Shan Li
Americans have seen their financial woes slowly abate, and now money-related problems have fallen to their lowest level in four years, a report says. Consumers who reported financial troubles have dropped more than 50% since hitting a peak in September 2009, according to a Tuesday report from Consumer Reports. The index tracking these problems has fallen to its smallest level since April 2009. Households that earned less than $50,000 and those that raked in more than $100,000 have experienced the largest drops in financial headaches, while middle-class Americans say their money worries got slightly worse last month.
BUSINESS
June 11, 2013 | By Shan Li
The supervisor of a German bank worker who fell asleep at the computer and accidentally transferred nearly $300 million to a retiree's account got her job back after winning the case in court Tuesday. Her employee, a clerk, had dozed off and accidentally hit the number "2" key 11 times, sending €222,222,222.22 to an account of a retired pensioner, according to the Agence France Presse. The correct amount that should have been sent? €62.40 (or about $82.60). Unfortunately for the retiree, the bank rectified the mistake soon afterward.
BUSINESS
June 8, 2013 | By Shan Li
A Saudi Arabian billionaire prince has sued Forbes magazine in London, accusing the publication of underestimating his wealth in its highly scrutinized annual list of the world's richest people. Prince Alwaleed bin Talal claims the magazine was "deliberately biased" when ranking him at a lowly 26th place in its 2013 tally of the super wealthy, according to court documents cited by the United Kingdom's Guardian newspaper. The magazine pegged his net worth at $20 billion. The prince claims it is closer to $30 billion.
CALIFORNIA | LOCAL
November 5, 1991
Anthony Gignac, who conned the Regent Beverly Wilshire Hotel, two limousine companies and several Beverly Hills boutiques out of $12,000 while masquerading as a Saudi prince, was sentenced to two years in prison Monday. Gignac, 21, known to his victims as Prince Omar Al-Saud and Prince Khalil Bil Al-Saud, offered a $1,000 check to help make up his victims' losses and promised to come up with another $1,000 if he was placed on probation. But Judge J.L.
NEWS
November 29, 1989
Saudi Arabian Prince Mohammed Fassi, who upset his former Bevery Hills neighbors by painting the nude statues on his lawn, has returned to Florida with a new mission--plucking unwanted cats from animal shelters and giving them a home fit for a king. "I have strict orders from His Royal Highness to put aside $2.5 million for cats," Victor Talaat, personal adviser to Fassi, said today. "We are going to send Asians through the United States to hunt the cats.
WORLD
April 15, 2013 | By Emily Alpert
A Saudi prince has renewed his argument that women should be allowed to drive, saying on Twitter that doing so would eliminate the need for hundreds of thousands of foreign drivers. Activists point out that driving is not actually legally prohibited for Saudi women, but traffic officials refuse to grant them licenses because clerics in the country forbid it. As a result, women rely on drivers to ferry them around, one of many factors pulling foreign workers into the Arab kingdom.
BUSINESS
December 20, 2011 | By Jessica Guynn, Los Angeles Times
Saudi Arabia's Prince Alwaleed bin Talal has scooped up a substantial stake in Twitter Inc. The multibillionaire has made a $300-million investment in the popular social media site that activists used during the "Arab Spring" uprisings in North Africa and the Middle East. That's roughly a 3% stake in the San Francisco company. Twitter confirmed the investment, which was announced in a news release from Kingdom Holding Co. that touted Alwaleed's desire to invest in "promising, high-growth businesses with global impact.
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