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Industrial Conglomerates

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  • Recall hurts Abbott, but still tops expectations Wednesday, 16 Apr 2014 | 9:56 AM ET

    ABBOTT PARK, Ill.— Abbott Laboratories' first-quarter net income tumbled 31 percent on unfavorable currency exchanges and a supplier recall that lowered sales of its baby formula. Baby formula sales fell 7 percent to $909 million after a recall in August that the company said cut its revenue by $75 million.

  • TOKYO, April 9- Japanese railway and property conglomerate Seibu Holdings slashed the estimated price of its initial public offering by as much as a third on Wednesday, leading its top shareholder Cerberus to forego an exit from an often fraught relationship.

  • *Tentative IPO price range at 1,600- 1800 yen vs earlier estimate 2,300 yen. TOKYO, April 9- Japanese railway and property conglomerate Seibu Holdings on Wednesday slashed the price of its initial public offering and said its largest shareholder, U.S. private equity firm Cerberus, would not participate in one of Japan's biggest IPOs this year.

  • ALBANY, N.Y., April 8- New York's highest state court has ruled that a lawsuit by the Algosaibi family conglomerate, claiming that a Saudi billionaire who married into the family committed a $150 million fraud, should be heard in Saudi Arabia.

  • Many 'Obamacare' critics accepted its subsidies Tuesday, 8 Apr 2014 | 4:07 PM ET

    Among the corporations is a familiar Democratic nemesis, Koch Industries, the giant conglomerate headed by the billionaire brothers Charles and David Koch. In a Senate chamber speech, Reid noted that Koch Industries benefited from a temporary provision of the health care law.

  • Cargill 3Q net income falls on power trading loss Tuesday, 8 Apr 2014 | 12:19 PM ET

    NEW YORK— Agribusiness conglomerate Cargill said Tuesday its net income dropped 28 percent in the fiscal third quarter because of increased electricity prices and other problems. The Minneapolis company said its net income fell to $319 million and revenue held steady at $32 billion.

  • PARIS, April 8- Things are changing in France's business world. But if you think that signals the end of the Gallic sneer at "Anglo-Saxon" ways- the free-market bent of the Americans and British- last week's promotion to economy minister for the interventionist Arnaud Montebourg is a reminder that laissez-faire government remains, in France, a linguistic irony.

  • SYDNEY, April 8- Indian conglomerate GVK Power& Infrastructure Ltd and Australia's richest woman on Tuesday were ordered to meet strict environmental conditions over water conservation before developing a coal mine in the arid Australian Outback estimated to cost $10 billion.

  • Vivendi to sell SFR in deal that could top $23B Saturday, 5 Apr 2014 | 1:01 PM ET

    NEW YORK— Vivendi said Saturday it will sell SFR, the No. 2 mobile phone operator in France, to media company Altice in a deal that could eventually be worth more than $23 billion. Vivendi wants to focus on its other businesses, Universal Music Group and Canal+ pay television. Vivendi said Altice's bid is worth 13.5 billion euros at closing.

  • April 4- Canadian private equity firm Onex Corp and Canada Pension Plan Investment Board said they would sell industrial conglomerate Gates Corp to private equity firm Blackstone Group LP for $5.4 billion.

  • Bouygues in 11th-hour bid for mobile operator SFR Friday, 4 Apr 2014 | 6:56 AM ET

    Bouygues raised its offer by 1.85 billion euros to 15 billion euros ahead of a potential decision Friday from parent company Vivendi on the offer from rival bidder Altice. The latest Bouygues offer— its second increase— would give Vivendi 10 percent equity in the merged entity.

  • PARIS, April 3- A French appeals court has upheld the choice of construction and telecoms conglomerate Bouygues to build a new judiciary complex in northern Paris, dismissing a suit by lawyers loath to leave the city centre. Bouygues won the order from the state over two years ago.

  • FRANKFURT, April 2- Deutsche Post, the world's biggest postal and logistics group, is betting on emerging markets and an e-commerce boom to boost profits through 2020, it said on Wednesday in unveiling its new medium-term financial targets.

  • DUBAI, April 1- Saudi Arabian conglomerate Ahmad Hamad Algosaibi& Brothers estimates its assets are worth less than a quarter of about $5.9 billion in claims made against it, a spokesman said as the group prepares a proposal to end one of the Middle East's biggest corporate debt disputes.

  • LONDON/ STOCKHOLM, March 31- U.S. conglomerate General Electric Co is exploring the sale of its GE Money Bank unit in the Nordic region, which could fetch up to 2 billion euros, as it retreats from the finance sector, sources close to the matter told Reuters.

  • LONDON/ STOCKHOLM, March 31- U.S. conglomerate General Electric is exploring the sale of its GE Money Bank unit in the Nordic region, which could fetch up to 2 billion euros, as it retreats from the finance sector, sources close to the matter told Reuters.

  • DUBAI, March 31- Dubai World, the conglomerate at the centre of the emirate's debt crisis, has the means to make its first big repayment on time next year and expects to pay off more of its debt ahead of schedule, a top executive said.

  • *C/A surplus $5.07 bln in Feb vs $0.22 bln surplus in Jan. BANGKOK, March 31- Thailand's economy is expected to contract in the first quarter after consumption and investment fell, the central bank said on Monday, reflecting how prolonged political unrest is deepening the toll on Southeast Asia's second-largest economy.

  • BOGOTA, March 28- Colombia's biggest food processing conglomerate, Nutresa, hopes to double sales in six years partly through takeovers in foreign markets to capitalize on strong sales growth abroad, top company officials said on Friday. Nutresa's sales in 2013 grew 11.2 percent to $3 billion, one third of which were made in Colombia.

  • BANGKOK, March 27- Siam Cement PCL, Thailand's largest industrial conglomerate, aims to boost cement production and sales in Southeast Asia to offset a slowdown at home where political unrest has delayed spending on infrastructure projects.

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