Conglomerates News

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  • Sinopec Engineering Chairman Cai gestures before presentation for their IPO in Hong Kong

    Cai Xiyou, president of Sinochem Group, the Chinese energy and chemicals conglomerates, has been put under investigation for serious discipline violations, China's main anti-corruption agency said on Saturday, ...

  • GE, State Street Nearing Deal On Asset Management Arm @ Investor's Business Daily - Fri, Feb 5, 2016 21:35 GMT

    General Electric (GE) is reportedly nearing an agreement to sell its $115 billion asset management business to State Street (STT), as the conglomerate continues to shed its nonindustrial assets. A deal ...

  • [$$] China's Suzhou Dongshan Precision to Buy Multi-Fineline Electronix @ The Wall Street Journal - Thu, Feb 4, 2016 22:34 GMT

    Chinese manufacturing conglomerate Suzhou Dongshan Precision Manufacturing Co. agreed to buy Multi-Fineline Electronix Inc. for $610 million.

  • Dating Site Match Group Plunges On Mixed Earnings @ Investor's Business Daily - Thu, Feb 4, 2016 20:23 GMT

    Dating conglomerate Match Group (MTCH) stock tumbled intraday Thursday after mixed Q4 results Wednesday afternoon. The company missed revenue expectations but beat what Wall Street estimated for earnings. ...

  • Buffett's firm now owns nearly 14 percent of Phillips 66 Associated Press - Thu, Feb 4, 2016 17:41 GMT

    Berkshire Hathaway has purchased nearly 1.7 million more shares of Phillips 66 to give it ownership of almost 14 percent of the oil refiner. The conglomerate led by Warren Buffett reported the latest stock ...

  • A general view shows the Tata Steel works in Scunthorpe

    Tata Steel Ltd swung to a hefty third quarter loss on Thursday, blaming cheap Chinese imports for having to axe 3,000 jobs at its UK unit, as it tries to slim down to cope with the global steel crisis. The European business of Tata Steel, the parent company of Britain's largest and Europe's second-largest steel producer, …

  • India's Tata Steel posts steep third quarter loss on cheap imports Reuters - UK Focus - Thu, Feb 4, 2016 16:59 GMT

    India's Tata Steel Ltd (BSE: TATASTEEL.BO - news) swung to a hefty third quarter loss on Thursday, blaming cheap Chinese imports for having to axe 3,000 jobs at its UK unit, as it tries to slim down to cope with the global steel crisis. The European business of Tata Steel, the parent company of Britain's largest and …

  • Reliance Infrastructure Ltd said on Thursday it has agreed to sell its cement business to Birla Corporation Ltd for 48 billion rupees ($710 million), as part of its efforts to reduce debt. Reliance Infrastructure is an affiliate of billionaire Anil Ambani's Reliance Group conglomerate. Reliance Infrastructure's cement …

  • Toshiba sees bigger loss as restructuring costs mount Reuters - Thu, Feb 4, 2016 11:48 GMT
    Toshiba Corp President and CEO Masashi Muromachi attends a news conference at the company headquarters in Tokyo

    Japanese industrial conglomerate Toshiba Corp <6502.T> expects a bigger full-year loss than previously anticipated, amid mounting restructuring costs after a $1.3 billion accounting scandal. Toshiba said on Thursday it now expected a net loss of 710 billion yen ($6 billion) compared with a previously expected loss of 550 …

  • Beijing Enterprises to Buy EEW as China Increases Takeovers @ Bloomberg - Thu, Feb 4, 2016 09:06 GMT

    Beijing EnterprisesHoldings Ltd., the state-controlled beer to energy conglomerate, is buying EEW Energy from Waste GmbH for 1.4 billion euros ($1.6 billion) as China extends its acquisition spree.

  • Veolia To Buy Nuclear Waste Startup Kurion @ Forbes - Wed, Feb 3, 2016 22:22 GMT

    One of the more unusual, and successful, cleantech startups that has emerged in recent years is being acquired. Veolia--the massive French conglomerate that specializes in water, waste and other essential services (like SuperShuttle)—announced on Wednesday that it will buy nuclear waste specialist Kurion for $350 million. …

  • Japan's electronics maker Panasonic Corp <6752.T> and industrial conglomerate Hitachi Ltd <6501.T> on Wednesday cut their full-year profit forecasts, citing concerns over slowing economic growth in China. China's economy grew at its weakest pace in a quarter of a century last year, and industries ranging from smartphones …

  • [$$] Emerson, Citing Slumping Oil Prices, Plans More Cuts @ The Wall Street Journal - Wed, Feb 3, 2016 05:26 GMT

    Emerson Electric warned that it will further downsize its operations as slumping oil prices weigh on the industrial conglomerate’s largest business unit.

  • [$$] LVMH’s Revenue Shines Amid Weak Global Economic Growth @ The Wall Street Journal - Wed, Feb 3, 2016 02:02 GMT

    LVMH’s fourth-quarter revenue rose 12% as the French luxury conglomerate showed signs of resilience amid weak global economic growth and the Nov. 13 terrorist attack in Paris that curbed tourist flows ...

  • Sahara Group Chairman Subrata Roy speaks during a news conference in Kolkata

    India's embattled Sahara conglomerate is close to raising about 53 billion rupees ($780 million) by divesting assets, a lawyer for the group said, as part of its efforts to free its jailed founder Subrata Roy. Sahara chief Roy was arrested in March 2014 after the group failed to comply with a court order to refund money …

  • Tata Motors' newly launched Zica car is displayed at the Indian Auto Expo in Greater Noida

    The rapidly-spreading Zika virus has an unlikely victim - Indian carmaker Tata Motors Ltd (TAMO.NS). The carmaker said on Tuesday it had decided to rename its soon-to-be-launched hatchback Zica, short for Zippy Car, after the mosquito-borne virus was declared an international health emergency. Tata Motors, part of the …

  • Sipp Industries Receives 4,000 Gallon Organic Hemp Oil Order Marketwired - Tue, Feb 2, 2016 13:30 GMT

    Sipp Industries, Inc. , a diversified conglomerate corporation specializing in technology, manufacturing and distribution of commercial and consumer products today announces the largest hemp order to date. ...

  • Tata Motors to rename hatchback that sounds like Zika Reuters - Tue, Feb 2, 2016 11:47 GMT
    Tata Motors logos are pictured outside their flagship showroom in Mumbai

    The rapidly-spreading Zika virus has an unlikely victim - carmaker Tata Motors Ltd (TAMO.NS). The carmaker said on Tuesday it had decided to rename its soon-to-be-launched hatchback Zica, short for Zippy Car, after the mosquito-borne virus was declared an international health emergency. Tata Motors, part of the Tata Group, …

  • City boys launch legal fight against owners of Wentworth golf club

    Residents of Wentworth, home to the UK’s most expensive golf club nestled in Surrey’s stockbroker belt, are threatening legal action against its Chinese owner after it proposed terminating all current members’ contracts and asking them to pay a one-off £100,000 to rejoin. The club, which is the birthplace of the Ryder …

  • Head of GE France to leave now Alstom deal has concluded Reuters - Sun, Jan 31, 2016 18:25 GMT
    File photo of the General Electric logo is seen in a Sears store in Schaumburg

    The head of General Electric (GE.N) in France, Clara Gaymard, is leaving the U.S. conglomerate after its takeover of the energy business of French group Alstom (ALSO.PA). Gaymard, who accompanied GE Chief Executive Jeff Immelt in talks with the French government over Alstom job guarantees, is a member of the board of energy …

  • Embattled Sahara conglomerate has been funnelling cash from small savers to fund one of its biggest projects, a luxury resort south of Mumbai, according to documents Reuters reviewed. Sahara has ploughed at least 15 billion rupees ($221 million) from two of its credit cooperatives into the Aamby Valley resort project through …

  • India's embattled Sahara conglomerate has been funnelling cash from small savers to fund one of its biggest projects, a luxury resort south of Mumbai, according to documents Reuters reviewed. Sahara has ploughed at least 15 billion Indian rupees ($221 million) from two of its credit cooperatives into the Aamby Valley resort …

  • Berkshire resumes buying Phillips 66 stock Reuters - Sat, Jan 30, 2016 17:17 GMT
    Warren Buffett, Berkshire Hathaway CEO, uses a listening device as he listens to Chinese President Xi Jinping at a U.S.-China business roundtable comprised of U.S. and Chinese CEOs in Seattle Washington

    Berkshire Hathaway Inc , the conglomerate run by Warren Buffett, has resumed its purchases of Phillips 66 stock, and spent roughly $832 million in January to boost its stake even as the oil refiner's profit ...

  • Vedanta shares rise despite poor update @ City A.M. - Fri, Jan 29, 2016 10:22 GMT
    Vedanta shares rise despite poor update

    The Indian mining conglomerate reported a decline in core earnings to $493.6m (£343.8m), while total group revenue slumped 27 per cent to $2.4bn. Despite the disappointing update, the FTSE 250-listed company’s share price was up 7.2 per cent to 243p in mid-morning trading, buoyed by the wider sector’s gains on the index …

  • China Citic Uncovers $147M 'Risk Incident' @ Bloomberg - Fri, Jan 29, 2016 02:39 GMT
    China Citic Uncovers $147M 'Risk Incident'

    China's largest investment conglomerate has uncovered what it has called a "risk incident" involving nearly $150M in relation to its notes business. Bloomberg's Haidi Lun reports on "Trending ...

  • Chairman and CEO Darnell Sutton of Hollywall Entertainment, Inc., , a global media and entertainment company, announced today that the company made major strides last year through restructuring its organization and its stock so that it can go forward in becoming a major media and entertainment conglomerate.

  • Industrial conglomerate 3M reported its fourth quarter and full year 2015 results on Tuesday, with Q4 GAAP earnings of $1.66 per share, a decline of 8.3% over the corresponding quarter of the previous year.   Such a significant drop in earnings can be attributed to macroeconomic challenges and volatile foreign currency …

  • [$$] Samsung Announces Stake Sales to Realign Ownership Structure @ The Wall Street Journal - Thu, Jan 28, 2016 13:02 GMT

    Samsung Group announced a pair of deals Thursday to realign its ownership structure as heir apparent Lee Jae-yong streamlines South Korea’s largest conglomerate, which is bound together by a web of complex ...

  • Samsung Life to Buy Card Affiliate Stake, Lee Tightens Grip @ Bloomberg - Thu, Jan 28, 2016 08:32 GMT

    Samsung Life Insurance Co. agreed to spend 1.54 trillion won ($1.27 billion) buying a stake in a credit card affiliate in the latest move by the heir apparent of South Korea’s biggest conglomerate to solidify ...

  • China's Wanda says reassessing Madrid project AFP - Thu, Jan 28, 2016 07:54 GMT
    China's Wanda says reassessing Madrid project

    Chinese conglomerate Wanda says its Madrid skyscraper project is under "comprehensive reassessment"

  • China Citic Bank Uncovers $147 Million Bill 'Risk Incident' @ Bloomberg - Thu, Jan 28, 2016 04:44 GMT
    Paper Trail of Fraud Shows Flaws in Booming China Funding System

    China Citic Bank Corp. recently uncovered a “risk incident” involving 969 million yuan ($147 million) in relation to its notes business, the unit of the nation’s largest investment conglomerate said late ...

  • An employee walks past a logo of Samsung C&T Corp at the company's headquarters in Seoul

    Samsung C&T Corp <028260.KS>, which last year became the Samsung Group's de facto holding company, on Thursday said it set aside 2.6 trillion won ($2.15 billion) for exceptional losses for 2015 from projects including construction work on Australia's Roy Hill iron ore mine. Samsung C&T is seen by analysts to be cleaning …

  • Hotel Lotte Co., the lodgings and duty-free sales unit of conglomerate Lotte Group, could go public as soon as May, the Korea Stock Exchange said after approving its listing application, setting the stage ...

  • Hotel Lotte to List Early as May in Largest Recent Korea IPO @ Bloomberg - Thu, Jan 28, 2016 02:39 GMT
    Hotel Lotte to List Early as May in Largest Recent Korea IPO

    Hotel Lotte Co., the lodgings and duty-free sales unit of conglomerate Lotte Group, could go public as soon as May, the Korea Stock Exchange said after approving its listing application, setting the stage ...

  • [$$] Brazilian Judge Blocks Sale of Petrobras Subsidiary to Mitsui @ The Wall Street Journal - Wed, Jan 27, 2016 01:34 GMT

    A Brazilian judge blocked the sale of a minority stake in a unit of Petroleo Brasileiro to a Japanese conglomerate, further complicating an asset sale process that is essential for Petrobras’ efforts to ...

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