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Industrial Conglomerates

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  • MUMBAI, March 25- India raised a record $17.6 billion from the sale of mobile phone airwaves in its latest telecom spectrum auction after 19 days of fierce bidding, the country's telecoms minister said on Wednesday. Ravi Shankar Prasad said the government received bids worth almost 1.10 trillion rupees, topping the 1.06 trillion rupees it raised in 2010. The...

  • *Israel withholding $130 million a month in customs, tax income. RAMALLAH, West Bank, March 25- Israel's decision to withhold $130 million a month in revenue collected on behalf of the Palestinians is strangling the economy and leaving the banking system dangerously exposed, the Palestinian central bank governor said on Wednesday. Israel stopped the transfer...

  • MADRID, March 25- Spain's BBVA SA denied having any credit exposure to Indian conglomerate Sahara, just days after the group told a court it had a line of credit from the bank to secure bail for its jailed boss. On Monday, India's Supreme Court gave Sahara three more months to raise bail after the company told the court it had received a line of credit worth 900 million...

  • LONDON— European cell phone operator Telefonica SA said Tuesday it has reached an agreement to sell its British business, O2, to Hong Kong conglomerate Hutchison Whampoa Ltd. for 10.25 billion pounds. Spain- based Telefonica said the purchase price includes an initial amount of 9.3 billion pounds and another 1 billion pounds to be paid later.

  • WASHINGTON, March 24- Dalian Wanda Group, China's biggest commercial real estate conglomerate, is negotiating several acquisitions within the U.S. entertainment sector, Chairman Wang Jianlin said on Tuesday in a videotaped address to the SelectUSA summit.

  • She previously served as CEO of the bank's U.K. operation and joined Santander's board in 1989.. CEO of U.K.- based Imperial Tobacco since 2010. She joined the group in 1999 and has held a number of senior roles. Chairwoman and managing director of Sabanci Holdings in Turkey, one of the country's biggest industrial and financial conglomerates.

  • MUMBAI, March 23- India's highest court will decide the future of conglomerate Sahara later on Monday, when it rules on whether time has run out for the controversial business empire to raise the $1.6 billion it needs to free its jailed chief. If it fails to raise the cash, the court could appoint a receiver to auction its assets, which include properties such as New...

  • *India, Thailand most optimistic; China, Singapore least. SHANGHAI, March 18- Concern over a U.S. interest rate hike kept sentiment in check at some of Asia's biggest firms, as optimism about the outlook for business over the next six months was near steady in the first quarter, a Thomson Reuters/ INSEAD survey showed. The Thomson Reuters/ INSEAD Asian Business...

  • MOSCOW, March 17- Russia's top mobile phone operator MTS said on Tuesday its net profit in the fourth quarter of last year dropped almost 92 percent to 1.6 billion roubles, partly hit by foreign exchange losses. MTS, part of the Sistema conglomerate, said it expected total 2015 revenues to rise by more than 2 percent compared to an increase of 3.1 percent last year.

  • March 17- Chinese conglomerate Fosun International Ltd is considering a bid for Cushman& Wakefield Inc, the world's third-largest real estate company, Bloomberg reported, citing sources familiar with the matter. The deal would bring Fosun industry expertise that could help it manage its global real-estate investments and explore new deals, Bloomberg said,...

  • SEOUL/ SINGAPORE, March 17- Singapore Airlines Ltd is in talks to buy a stake in South Korea's largest low-cost carrier Jeju Air Co Ltd, a deal that would be the flag carrier's first foray into North Asia where rising demand from Chinese passengers is fuelling growth. Singapore Airlines and Jeju Air said on Tuesday they were in talks about a possible investment, but...

  • March 16- General Electric Co Chief Executive Officer Jeff Immelt is sticking by his company's model for housing diverse businesses under one roof at a time when other U.S. conglomerates are looking at hiving off units to please investors. In a wide-ranging annual letter to shareholders released on Monday, Immelt details advantages from such scale through...

  • Dickel master distiller leaving to head Popcorn Sutton Monday, 16 Mar 2015 | 10:55 AM ET

    NASHVILLE, Tenn.— A central figure in the public dispute between the Jack Daniel's and George Dickel distilleries over the legal definition of Tennessee whiskey is leaving to head up a brand named after a legendary moonshiner. Dickel is owned by British conglomerate Diageo PLC, which has led a heated legislative fight seeking to overturn the state's newly...

  • SEOUL, March 16- South Korea's 30 biggest conglomerates will increase investment 16.5 percent in 2015 from a year ago, but will hire fewer new employees due to increased labor costs, business lobby group the Federation of Korean Industries said on Monday. Samsung Group, Hyundai Motor Group and other conglomerates will increase their total investment to 136.4...

  • LONDON, March 13- The euro's slide towards parity with the dollar will provide a much-needed boost for European companies this year and force U.S. rivals to adapt their businesses or risk losing market share. Other companies predicting a tail wind from the around 20 percent drop in the value of the euro over the past six months to $1.06 on Friday include jet...

  • March 12- Activist investor Nelson Peltz told CNBC on Thursday that he was willing to accept two seats on DuPont's board, including one for himself, which is double the number the chemical conglomerate is willing to give his hedge fund. Peltz and Trian Fund Management LP, engaged in a proxy battle with DuPont for the past six months, also want to nominate two people...

  • Canada's Quebecor's adjusted income rises 3.5 pct Wednesday, 11 Mar 2015 | 6:29 AM ET

    March 11- Canadian telecom and media conglomerate Quebecor Inc reported a 3.5 percent rise in quarterly adjusted income, helped by strong demand in its telecommunications and media businesses. Adjusted income from continuing operations rose to C $50.3 million, or 41 Canadian cents per share, in the fourth quarter ended Dec. 31, from C $48.6 million, or 39...

  • KUALA LUMPUR, March 4- Malaysia's indebted and controversy-ridden state investor 1 MDB will be left as a skeletal structure and possibly dissolved under a debt repayment plan in which most of its assets will be sold, sources with direct knowledge of the matter said. The power and property fund, a pet project of Prime Minister Najib Razak with assets worth $14...

  • March 4- Warren Buffett telling the rest of us about the advantages of conglomerates is like Willie Mays arguing for the no-look-over-the-shoulder catch while running full speed. It can happen, and those who do it will command a premium, but your wealth or retirement should not depend upon it. So when Buffett, the man behind Berkshire Hathaway, the world's most...

  • *Honeywell to invest 50 bln naira in flourmill unit. LAGOS, March 2- Nigerian conglomerate Honeywell group plans to invest 150 billion naira over the next 2-3 years to fund growth across its businesses and will list one or two subsidiaries on the local bourse, its chairman said. Oba Otudeko told the Reuters Africa Investment Summit on Monday that Honeywell, with...