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Industrial Conglomerates

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  • MOSCOW, Dec 18- Shares in Russian business conglomerate Sistema surged around 35 percent in early trading on Thursday after the company's chairman was freed from house arrest after the market closed on Wednesday. Interfax reported that Vladimir Yevtushenkov was freed on Wednesday, citing his lawyer. Yevtushenkov's arrest and the seizure by the state of one...

  • SEOUL, Dec 18- Shares in Cheil Industries Inc, the de facto holding company of Samsung Group, doubled on its debut on Thursday in the latest in a series of steps toward generational succession for South Korea's largest conglomerate. Cheil is about 42 percent owned by Samsung Electronics Co Ltd Chairman Lee Kun- hee and his three children, and is expected to be the...

  • *Expects 2015 earnings $1.70- $1.80/ share vs est $1.79. NEW YORK, Dec 16- General Electric Co gave a 2015 profit forecast range on Tuesday that barely included Wall Street's target as the U.S. conglomerate braced for a "sluggish" oil and gas sector due to plunging crude prices. "We're really planning the company for a sluggish oil and gas sector in' 15," Chief Executive...

  • *Expects 2015 earnings $1.70- $1.80/ share vs est $1.79. NEW YORK, Dec 16- General Electric Co said it expects profit from its industrial units to rise by at least 10 percent in 2015, helped by its power and water, aviation and energy management businesses. Earlier this year, it struck a $16.9 billion deal to buy the power business of France's Alstom SA.

  • NEW YORK, Dec 16- General Electric Co said it expects profit from its industrial units to rise by at least 10 percent in 2015, helped by its power and water, aviation and energy management businesses. Earnings from its industrial units are expected to be $1.10- $1.20 per share next year, the conglomerate said in a presentation on Tuesday at an investor meeting in New...

  • NEW YORK, Dec 16- General Electric Co said it expects profit from its industrial units to rise by at least 10 percent in 2015, as the conglomerate cuts reliance on its financial services business. Earnings from its industrial units are expected to be $1.10- $1.20 per share next year, the company said in an investor presentation. The company forecast 2015 earnings...

  • Honeywell sales outlook for 2014, 2015 falls short Monday, 15 Dec 2014 | 2:46 PM ET

    MORRIS TOWNSHIP, N.J.— Honeywell International Inc. has pared its sales outlook for the fourth quarter and full-year, saying Monday that it expects only modest economic growth in most of the world next year. Even so, the industrial conglomerate backed its previous guidance on earnings for the fourth quarter and 2014. Honeywell also issued earnings and sales...

  • TOKYO, Dec 15- Leaked emails reveal a cultural gulf between Japan's Sony Corp and Hollywood subsidiary Sony Pictures Entertainment, highlighting the challenge of CEO Kazuo Hirai to turn around the money-losing company under the slogan One Sony. While activist hedge fund investor Daniel Loeb has given up his call for Sony to spin off its entertainment arm,...

  • *Fosun Intl moves to new insurance-based business model. A Club Med takeover would represent the most significant co-investment between Fosun and Fidelidade, the Portuguese insurance firm Fosun forked out $1.29 billion to buy in May, and advance Guo's goal of turning his Shanghai- based manufacturing and real estate-focused conglomerate into a...

  • Ferrari looks to burnish brand value ahead of IPO Thursday, 11 Dec 2014 | 1:11 AM ET

    MILAN— Ferrari's sleek sports cars and souped-up Formula 1 racing machines have made the prancing horse logo among the world's most powerful brands. The Made-in- Italy luxury goods sector is abuzz over whether Marchionne's ambition could facilitate the creation of an alliance of high-end producers, one that might stand up to the French conglomerates like...

  • Dec 10- The change atop United Technologies Corp has set off speculation the U.S. conglomerate may eventually shake up its diverse industrial businesses, including possibly divesting its Sikorsky helicopter unit. Shares of United Technologies have climbed 4 percent since the company announced on Nov. 24 that Chief Financial Officer Greg Hayes replaced...

  • Report: US companies seek tax deals in Luxembourg Wednesday, 10 Dec 2014 | 6:49 AM ET

    LUXEMBOURG— A group of international journalists says leaked confidential documents show The Walt Disney Co., Koch Industries and other companies created a tangle of subsidiaries in Luxembourg that may have helped them slash the taxes they pay in the U.S. and Europe. The International Consortium of Investigative Journalists on Wednesday named Disney and...

  • At a glance: The family behind Korean Air Tuesday, 9 Dec 2014 | 3:53 PM ET

    Korean Air found itself in the spotlight this week when the chairman's daughter, an executive at the carrier, forced a crew member to leave the plane after she was served snack nuts improperly. Cho Yang- ho: Korean Air's chairman and CEO and son of the company's founder. The Chos were charged with receiving millions in rebates when they purchased airplanes from...

  • MELBOURNE, Dec 8- Societe Generale has suspended its involvement in financing a $10 billion coal mine, rail and port project being developed by India's GVK conglomerate and Australian billionaire Gina Rinehart, citing the project's years-long delay. "We have been working with Societe Generale on a specific element of the financing arrangements for our...

  • *CITIC Ltd shares jump as much as 6.3 pct. HONG KONG, Dec 5- CITIC Ltd is in early talks with companies including Japan's Itochu Corp and Thailand's Charoen Pokphand Group about a large share placement, a person familiar with the matter said, as the Chinese state-owned conglomerate tries to broaden its investor base. To part-fund that acquisition and increase the...

  • VANCOUVER, Dec 4- Shares of Enbridge Inc surged more than 12 percent to a record high on Thursday, a day after the company outlined plans to transfer ownership of its Canadian pipelines to an affiliate and boost its dividend by 33 percent. The plan will allow Calgary- based Enbridge to accelerate dividend growth and improve funding costs for new projects,...

  • BUSINESS-NEWS-SCHEDULE AT 1600 GMT /10.30 AM ET Monday, 1 Dec 2014 | 10:43 AM ET

    Asia, Europe, U.S. factory activity slows despite price cuts. LONDON/ SYDNEY/ NEW YORK- Manufacturing growth across Asia, Europe and the U.S. slowed in November as heavy price cutting failed to revive demand, surveys shows, more evidence that a feeble global recovery may be grinding to a halt. LONDON- Oil prices hit five-year lows as slowing factory activity in China...

  • *To pay dividend of 0.50 euro/ share for 2014, 2015. *Sells Spain, Portugal assets to Macquarie for 2.5 bln euros. FRANKFURT, Dec 1- Germany's top utility E.ON said it would split in two, spinning off power plants to focus on renewable energy and power grids, a dramatic response to industry changes that could trigger similar moves at European peers.

  • PARIS, Dec 1- Chinese billionaire Guo Guangchang is set to sweeten his bid for the struggling French holiday group Club Mediterranee to trump Italian tycoon Andrea Bonomi's offer in France's longest-running takeover battle. A source familiar with the $1 billion- plus bid process told Reuters that Guo's conglomerate, the Shanghai- based Fosun, was set to raise...

  • PARIS, Nov 30- Chinese conglomerate Fosun, controlled by billionaire Guo Guangchang, is set to raise its bid for holiday company Club Mediterranee on Monday to trump Italian tycoon Andrea Bonomi, a source familiar with the process said. Fosun had previously offered 22 euros a share in a takeover leapfrog saga that dates back to an offer from Fosun in May 2013.