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Industrial Conglomerates

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  • PREVIEW-Low oil prices put pressure on GE shares Thursday, 22 Jan 2015 | 2:22 PM ET

    Jan 22- For massive conglomerate General Electric Co, the plunge in oil prices stands to both help and hurt. Since 2007, GE has invested $14 billion in this once-fast-growing unit through acquisitions. "We recognize that lower oil prices will affect this business, but no one knows how much yet," said Charlie Smith, chief investment officer of Fort Pitt Capital, which...

  • *He is Hong Kong's top tax payer for 5 years- report. HONG KONG, Jan 22- In late summer 2014, as mass protests rocked central Hong Kong, Canning Fok sat in his office quietly planning a business overhaul that would make his boss Li Ka- shing, Asia's richest man, richer still. After Li revealed the fruits of Fok's labour on Jan. 9, describing it as a "watershed" moment in the...

  • *Deal to help Dalian diversify, expand in entertainment. BEIJING, Jan 21- China's biggest property conglomerate, Dalian Wanda Group Co, has bought 20 percent of Spanish soccer champions Atletico Madrid for 45 million euros, becoming the first Mainland company to invest in a premier European club. Under terms of the investment, Dalian will spend an additional 15...

  • MELBOURNE, Jan 21- Chevron Corp, which has been struggling to lock in long-term sales contracts for its Australian liquefied natural gas, said it has lined up South Korean conglomerate SK Group as a new customer from its $54 billion Gorgon LNG project. "This agreement is an important step in the commercialization of Chevron's significant natural gas holdings in...

  • BRUSSELS, Jan 20- European Union antitrust regulators have set a Feb. 23 deadline for a decision on whether to clear General Electric's planned purchase of most of French engineering group Alstom's power equipment business. The European Commission said on Tuesday the companies requested approval for their deal on Jan. 19. U.S. conglomerate GE received the...

  • *Itochu and CP Group to take 20 pct stake in Citic. TOKYO/ HONG KONG, Jan 20- Japanese trading house Itochu Corp and Thailand's Charoen Pokphand Group said on Tuesday that they plan to jointly invest $10 billion in Citic Ltd, part of China's oldest and biggest conglomerate. Itochu and CP Group plan to take a joint stake of 20 percent in Citic Ltd, increasing their...

  • TOKYO, Jan 20- Japanese trading house Itochu Corp and Thailand's Charoen Pokphand Group said on Tuesday that they plan to jointly invest $10 billion in Citic Group, China's oldest and biggest conglomerate. Itochu and CP Group plan to contribute evenly to the investment, taking a joint stake of as much as 20 percent, as both seek to raise their exposure to the...

  • HONG KONG, Jan 20- Japanese trading house Itochu Corp and Thailand's Charoen Pokphand Group will jointly invest a total of HK $80.3 billion in China's Citic Group, the companies said in a Hong Kong stock exchange filing on Tuesday. Citic, China's oldest and biggest financial conglomerate, has been trying to broaden its investor base. It completed a restructuring...

  • BEIJING, Jan 19- China's anti-corruption watchdog has stepped up inspections of state-run conglomerates, focusing on strategic firms, as Beijing prepares to implement its most ambitious reform of government industry in nearly two decades. The Central Commission for Discipline Inspection, the ruling Communist Party's top anti-corruption body, said it...

  • MANAMA, Bahrain— The U.S. food company behind Oreo cookies and Ritz crackers says it has begun construction of a $90 million biscuit plant in Bahrain to keep up with growing demand in the Middle East and Africa for Mondelez International's products. The multinational conglomerate behind some of the world's most popular food snacks inaugurated the beginning...

  • Jan 13- Hong Kong shares rose for the fifth consecutive day on Tuesday, helped by inflows from investors who like the plan by Asia's richest man, Li Ka- shing, to split his conglomerate into two listed companies. Among the most actively traded stocks on Hong Kong's main board were CASH Financial Services Group Ltd, up 10.3 percent at HK $0.32, Kong Sun Holdings Ltd,...

  • SEOUL, Jan 13- Hyundai Motor Co on Tuesday said its chairman and his son failed to sell about $1.25 billion worth of shares in affiliate Hyundai Glovis, complicating succession moves at South Korea's second-biggest family-owned conglomerate. Hyundai Motor Chairman Chung Mong- koo and Vice Chairman Chung Eui-sun on Monday offered 5.02 million shares at...

  • SEOUL, Jan 13- Hyundai Motor Co on Tuesday said its chairman and his son failed to sell about $1.25 billion worth of shares in affiliate Hyundai Glovis, thwarting a succession move at South Korea's second-biggest family-owned conglomerate. Hyundai Motor Chairman Chung Mong- koo and Vice Chairman Chung Eui-sun on Monday offered 5.02 million shares at 264,000...

  • *Egypt's GB Auto soars on rights issue, investment plans. DUBAI, Jan 12- Gulf stock markets ran out of steam on Monday after several strong sessions as oil prices fell by more than $1 a barrel, although positive fourth-quarter corporate earnings supported individual stocks. Brent crude traded below $49 after analysts at Goldman Sachs cut their average forecast...

  • SEOUL, Jan 12- Hyundai Motor Co's chairman and vice chairman are seeking to raise about $1.25 billion by selling shares of Hyundai Glovis, a person familiar with the matter said, a move that could smooth succession in the family-owned conglomerate. The sale could help vice chairman and heir apparent Chung Eui-sun buy stakes in key units such as Hyundai Motor, Kia...

  • GANDHINAGAR, India, Jan 11- Indian Prime Minister Narendra Modi promised on Sunday to pursue predictable policies and ensure stable taxes, in a speech that sought to address key concerns for foreign investors in Asia's third-largest economy. President Barack Obama visits India later this month. Along with speakers from Japan, Canada and Singapore, Kerry...

  • GANDHINAGAR, India, Jan 11- Global statesmen and business titans descended on Indian Prime Minister Narendra Modi's home state on Sunday to pay homage to the man they count on to unleash big-bang reforms and create one of the few bright spots in a troubled world economy. Big business cheered Modi when he won India's strongest election mandate in 30 years last May,...

  • Trian's Peltz escalates campaign to break up DuPont Friday, 9 Jan 2015 | 8:12 AM ET

    Activist investor Nelson Peltz stepped up his fight to break up the company, as his Trian Fund nominated himself and three other members to the board.

  • Li's two largest listed companies are Cheung Kong and Hutchison Whampoa, which both run a wide range of businesses. As on Jan. 7, Cheung Kong, which owns just under half of Hutchison Whampoa, traded at a 23 percent discount, or about HK $87 billion, to its book value at the end of June 2014, the statement said. "The issue of holding company discount has puzzled us for a long...

  • Jan 8- Activist investor Nelson Peltz, one of DuPont's largest shareholders, stepped up his fight to break up the industrial conglomerate, as his Trian Fund nominated himself and three other members to the board. Trian Fund Management L.P., which Peltz heads, said on Thursday that investment funds it manages own 24.3 million DuPont shares worth about $1.8 billion.