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Industrial Conglomerates

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  • SAO PAULO, June 19- Brazilian police on Friday arrested Marcelo Odebrecht, the head of Latin America's largest engineering and construction company Odebrecht SA, and accused his family-run conglomerate of spearheading a $2.1 billion bribery scheme at state-run oil firm Petrobras. Police also apprehended Otavio Marques Azevedo, CEO of Andrade Gutierrez,...

  • CURITIBA, Brazil, June 23- Brazil's biggest corruption investigation could spread to its largest electric utility, Eletrobras, and more than a dozen foreign companies, a lead prosecutor said on Tuesday, in a sign of further turbulence for the country's business and political establishment. Carlos Fernando dos Santos Lima said a scheme similar to one set up as...

  • June 23- A long-running battle between LG Electronics Inc and environmentalists ended on Tuesday when LG agreed to halve the height of its planned North American headquarters so it will not obstruct views of the New Jersey Palisades cliffs. The South Korean conglomerate said it would redesign the building in Englewood Cliffs, New Jersey, so that it will not...

  • *Bouygues board to meet at 1600 GMT Tuesday- source. Patrick Drahi, the billionaire backer of Altice, the majority owner of France's second-biggest telecom operator Numericable-SFR, wants to buy smaller rival Bouygues Telecom as part of a deal-making spree that has seen him buy four companies in the past 18 months. Sources earlier told Reuters his bid valued...

  • MOSCOW, June 22- Russian President Vladimir Putin has signed a decree on transferring a 25 percent plus one share stake in medium-sized oil producer Bashneft to the region of Bashkortostan, Interfax news agency said on Monday. A Moscow court transferred shares in Bashneft from Sistema- a conglomerate owned by billionaire businessman Vladimir Yetuvshenkov-...

  • PARIS, June 22- European telecoms group Altice has made an offer to buy France's Bouygues Telecom through its subsidiary Numericable-SFR, the companies said on Monday, driving up shares across the French telecoms sector. Bouygues said its board would meet on Tuesday to discuss what it called Altice's "unsolicited offer", adding that no negotiations between the...

  • *Hong Kong regulator declines to comment. HONG KONG, June 22- The two biggest shareholders in China Aircraft Leasing Group Holding Ltd said on Monday they had no plans to cut their stake in the firm after it revealed it was unable to contact its founder and chief executive, who resigned without explanation. State-backed financial conglomerate China Everbright...

  • HONG KONG, June 22- Shares of China Aircraft Leasing Group Holding Ltd rose early on Monday after falling by about a fifth in the previous session when the company said it was unable to contact its chief executive, who resigned without explanation. China Aircraft Leasing Group is partly owned by a subsidiary of state-backed financial conglomerate China...

  • Earlier in the day, Brazilian police arrested Marcelo Odebrecht, the company's chief executive officer, and accused his family-run conglomerate of spearheading a $2.1 billion bribery scheme at state-run oil firm Petrobras.

  • SAO PAULO, June 19- Brazilian police on Friday arrested Marcelo Odebrecht, the head of Latin America's largest engineering and construction company Odebrecht SA, and accused his family-run conglomerate of spearheading a $2.1 billion bribery scheme at state-run oil firm Petrobras. In pre-dawn raids that netted 12 arrests in four states, police also...

  • SAO PAULO, June 19- Brazilian police on Friday arrested Marcelo Odebrecht, the head of Latin America's largest engineering and construction company Odebrecht SA, and accused his family-run conglomerate of spearheading a $2.1 billion bribery scheme at state-run oil firm Petrobras. In pre-dawn raids that netted 12 arrests in four states, police also...

  • Roberts, who set up Comcast after he bought a small cable television operator in Tupelo, Mississippi in 1963, died of natural causes in Philadelphia, Comcast said in a statement. He led Comcast from its humble beginnings to a $150 billion media conglomerate. Roberts, who was chairman emeritus of Comcast's board, had spent more than five decades at the company.

  • UPDATE 1-Comcast founder Ralph Roberts dies at 95 Friday, 19 Jun 2015 | 10:57 AM ET

    Roberts founded Comcast when he bought a small cable television system in Tupelo, Mississippi in 1963, and was responsible for growing the company into a $150 billion media conglomerate. Roberts, who was chairman emeritus of Comcast's board, had spent more than five decades at the company. Roberts died of natural causes in Philadelphia, Comcast said in a...

  • Rupert Murdoch to hand over Fox CEO reins to son James Tuesday, 16 Jun 2015 | 4:25 PM ET

    June 16- Twenty-First Century Fox Inc said Rupert Murdoch will hand over the chief executive reins at the entertainment conglomerate to his 42- year-old son James. Rupert Murdoch, 84, will become executive co-chairmen, along side his elder son Lachlan. The company said the new changes are effective July 1.

  • *Hudson's Bay pledges to keep all Kaufhof staff. DUESSELDORF, Germany, June 15- Hudson's Bay Co is buying Germany's leading department store chain, Kaufhof, from Metro for 2.8 billion euros, giving the Saks owner a launch pad to expand into Europe. Hudson's Bay, whose shares rose as much as 13.4 percent, said it would sell at least 40 of Kaufhof's owned or partially...

  • *Hudson's Bay pledges to keep all Kaufhof staff. DUESSELDORF, Germany, June 15- Hudson's Bay Co is buying Germany's leading department store chain, Kaufhof, from Metro for 2.8 billion euros, giving the Saks owner a launch pad to expand into Europe. Hudson's Bay, whose shares rose as much as 13.4 percent, said it would sell at least 40 of Kaufhof's owned or partially...

  • *Hudson's Bay pledges to keep all Kaufhof staff. DUESSELDORF, Germany, June 15- Canadian retailer Hudson's Bay is buying German department store chain Kaufhof from Metro for 2.8 billion euros as a launch pad to expand into Europe. Hudson's Bay, which operates department stores in Canada and U.S. luxury chains Saks Fifth Avenue and Lord& Taylor, said the deal, due to...

  • June 15- Hong Kong stocks dropped sharply on Monday, taking cues from weak China and global markets and ahead of a politically sensitive vote this week that could spark mass protests. Hong Kong stocks tracked losses in China, whose markets fell 2 percent on Monday over IPO and margin tightening worries. Prada SpA shares fell 4.9 percent, reaching the lowest level...

  • A French doctor, venture capitalist and founder of biotech company Abivax, Pouletty is working with Cuba's Center for Genetic Engineering and Biotechnology to develop a therapeutic vaccine to treat chronic Hepatitis B that could be on the Asian market in two years and in Europe after that. Instead, Abivax agreed to buy vaccines at a predetermined price and pay...

  • HARLAN COUNTY, KY, June 4- When Dan Mosley became head of Kentucky's Harlan County government this year, he promised- like those elected before him- to defend the state's beleaguered coal industry. Talk of an economic transition remains difficult in eastern Kentucky, where you can still spot bumper stickers that read "Mine Every Lump" and statues honor coal miners.