Industrial Conglomerates
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*Copper imports have doubled since Sterlite smelter closure on March 30. India's biggest smelter, owned by Sterlite Industries, was shut on March 30 after local residents complained of emissions that led to breathing difficulties, forcing top copper users to rely on rival Hindalco Industries for almost all their copper needs.
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*Copper imports have doubled since Sterlite smelter closure on March 30. India's biggest smelter, owned by Sterlite Industries, was shut on March 30 after local residents complained of emissions that led to breathing difficulties, forcing top copper users to rely on rival Hindalco Industries for almost all their copper needs.
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FAIRFIELD, Conn.-- General Electric Co. said Monday that it will receive $6.5 billion in dividends from its finance arm this year as the conglomerate works on reducing the size of its GE Capital financial arm.
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GE Capital, the financial arm of industrial giant General Electric, will return $6.5 billion worth of dividends back to its parent company over the course of the year.
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May 16- Credit-rating agency Standard& Poor's on Thursday cut its rating on Berkshire Hathaway Inc, the insurance and industrial conglomerate controlled by billionaire investor Warren Buffett, one notch, citing the company's reliance on its insurance operations for dividend income.
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May 16- Credit rating agency Standard& Poor's on Thursday cut its rating on Berkshire Hathaway Inc, the insurance and industrial conglomerate controlled by billionaire investor Warren Buffett, by one notch, citing the company's reliance on its insurance operations for dividend income.
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*Euro STOXX 50, Germany's Dax also scale new closing peaks. *Intesa Sanpaolo, Deutsche Post, EADS gain on profit beats. Italian bank Intesa Sanpaolo, German mail company Deutsche Post and French industrial conglomerate EADS were among top gainers after reporting better-than expected-profits, overshadowing some cautious operational numbers.
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NEW DELHI, May 14- India's largest copper smelter will remain shut until at least May 16, when a court hearing will resume into complaints of emissions from the plant. The facility meets half of India's demand for the metal, and a near seven-week closure at the plant has tightened supply of refined copper and driven up prices to industry.
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JERUSALEM, May 10- He was once celebrated for his vast fortune and daring deals, but when Israeli tycoon Nochi Dankner was about to catch a break from the bank on his massive debts, public outrage kicked in.
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TOKYO, May 10- Hitachi Ltd forecast an 18.5 percent jump in operating profit for this fiscal year, in line with expectations, as the electronics conglomerate reaps the benefits of a weaker yen while projecting a pickup in economic recovery both at home and abroad.
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HONG KONG, May 9- Hong Kong shares were set to start higher on Thursday, with steel conglomerate Citic Pacific rising 1.6 percent to be the top percentage gainer among Hang Seng Index components. The Hang Seng Index was set to open up 0.5 percent at 23,353.68.
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*Push for tax holiday meets opposition in Congress. NEW YORK, May 8- Large U.S. companies boosted their offshore earnings by 15 percent last year to a record $1.9 trillion, avoiding hefty tax bills by keeping the profits abroad, according to a new report.
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*Copper imports to India rising- adviser. NEW DELHI, May 8- India's biggest copper smelter will stay shut until at least May 14 when a court will review an environmental case again, prolonging a six-week shutdown which is squeezing local supplies and boosting copper concentrate processing fees in Asia.
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Shares in Toshiba Corp dropped as much as 7.8 percent to a four-week low of 497 yen after the Nikkei newspaper said the electronics conglomerate would likely post a worse-than-expected operating profit for the fiscal year ended March 31 due to weak TV sales.
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May 7- Three months ending March 31, 2013. Net income 0.66 vs 2.70 Core net income 3.1 vs 2.7 Service revenues 21.4 vs 20.3 NOTE: Globe Telecom Inc. ,the Philippines' second biggest telecommunications firm, is owned by local conglomerate Ayala Corp.
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*Established drug products in focus at Pfizer, GSK, Sanofi. Bankers speaking at the Reuters Health Summit said the success of transactions such as Pfizer Inc's divestitures of noncore assets and Abbott Laboratories splitting off its innovative drugs into AbbVie Inc had fuelled a wider rethink across the industry.
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HONG KONG, May 7- Philippine conglomerate Cosco Capital plans a share offer worth up to $500 million to bolster liquidity and free float after a recent corporate restructuring, IFR reported on Tuesday, citing sources familiar with the deal.
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SINGAPORE/ HONG KONG, May 06 Fitch Ratings has affirmed China- based Bright Food Co., Ltd.' s Long-Term Issuer Default Rating at' BBB-' with Stable Outlook and its senior unsecured rating at' BBB-'. Fitch has also assigned Bright Food Hong Kong Limited's proposed senior unsecured USD notes an expected' BBB-' rating.
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COLOMBO, May 6- Sri Lankan shares hit a 17- month closing high on Monday, led by blue chips such as conglomerate John Keells Holdings, with retail investors buying select shares on expectations of a rate cut at the central bank's policy meeting this week. The day's turnover hit its highest in seven months, boosted by block deals in Lanka Ceramic PLC.
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HONG KONG, May 6- State-owned conglomerate China Resources Co Ltd plans to merge its Hong Kong- listed power producer with its natural gas distribution unit to form a $22 billion energy group able to negotiate better terms for natural gas supplies from the state.
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May 6- Three months ending March 31, 2013. NOTE: Petron Corp, the Philippines' biggest oil refiner and retailer, is owned by the country's most diversified conglomerate San Miguel Corp. It has 550 service stations in Malaysia.