Industrial Conglomerates
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SEOUL, Feb 1- Samsung Electronics Co Ltd Chairman Lee Kun- hee fended off a lawsuit by estranged family members demanding he hand over billions of dollars of shares in Samsung companies as a South Korean court ruled in his favour on Friday.
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SAO PAULO, Feb 1- Two hundred feet under Sao Paulo's most famous old-money neighborhood, home to artists, coffee barons and retired generals, a major breakthrough is about to take place in Brazil's quest to improve its dilapidated infrastructure.
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Jan 31- Media conglomerate Viacom Inc said on Thursday that quarterly revenue fell 16 percent mainly on weaker results from its Paramount movie unit but profit topped estimates. Revenue totaled $3.3 billion, while analysts, on average, expected Viacom to report revenue of $3.48 billion, according to Thomson Reuters I/B/E/S.
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The media conglomerate reported net income of $473 million, or 93 cents per share, for the first quarter ending Dec. 31, compared with $591 million, or $1.06 per share, for the same period last year.
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In the haze around Egypt's latest bout of turmoil, the nation’s largest companies are struggling to adapt as the Islamist government is once again forced to focus on a fast-changing political crisis rather than the economy, the New York Times reports.
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Thai billionaire Charoen Sirivadhanabhakdi has raised his stake in Fraser and Neave (F&N) to more than 50 percent, turning his offer to buy the rest of the Singapore property and drinks conglomerate unconditional.
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SINGAPORE, Jan 30- Thai billionaire Charoen Sirivadhanabhakdi has raised his stake in Fraser and Neave Ltd to more than 50 percent, turning his offer to buy the rest of the Singapore property and drinks conglomerate unconditional.
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Australian mining-to-retail conglomerate Wesfarmers on Wednesday cut its full-year coal sales forecast, citing flooding in Australia and weak demand in Asia that is depressing sales prices.
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*It could take several weeks to resume full coal production in Queensland- resources council. SYDNEY, Jan 30- Australian mining-to-retail conglomerate Wesfarmers on Wednesday cut its full-year coal sales forecast, citing flooding in Australia and weak demand in Asia that is depressing sales prices.
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HONG KONG, Jan 28- Hong Kong shares were set to start the week higher on Monday, helped by 2 percent gains for Hong Kong conglomerate Wharf Holdings and Chinese consumer counter Hengan International. The Hang Seng Index was set to open up 0.2 percent at 23,622 points. The China Enterprises Index of the top Chinese listings in Hong Kong was indicated to start flat.
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After four years of belt-tightening, American companies are good at squeezing more profit out of every dollar of sales - a skill that chief executives regard as critical in the face of an uncertain economy.
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*Honeywell, McDonald's profit despite shaky sales. McDonald's Corp was able to beat Wall Street's profit forecasts by keeping its locations open on Christmas and rolling out the cult favorite McRib sandwich in December.
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*United Tech confirms 13 pct profit growth forecast. *Textron sees 2013 earnings up about 12 percent.
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Jan 22- Warren Buffett, the famed investor and notorious lover of cheeseburgers and cherry-flavored sodas, a competitive runner? Buffett's conglomerate, Berkshire Hathaway, on Tuesday said it will add a 5- kilometer run to the festivities at its annual shareholder weekend this coming May.
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*Overseas Union chooses not to increase S $9.08- per-share offer. *Raising price unattractive after Singapore cools property mkt- Overseas Union.
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*Overseas Union- led group had bid S $9.08/ share. SINGAPORE, Jan 19- Thailand's third richest man has raised his takeover offer for Singapore's Fraser and Neave Ltd, valuing the property and drinks conglomerate at nearly $11.3 billion, a move to fend off a rival bid from a group run by Indonesian tycoon Stephen Riady.
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Jan 18- General Electric Co reported a better-than-expected 7.5 percent rise in profit on Friday, reflecting a campaign by the largest U.S. conglomerate to boost margins as well as higher sales of equipment used in oil and gas production.
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Jan 17- Cargill Inc, the privately held agribusiness conglomerate and a leading beef processor, said on Thursday it will close its Plainview, Texas, beef plant effective Feb. 1 because there are not enough cattle to supply it. *The U.S. Agriculture Department will release its January 1, 2013, U.S. cattle supply on Feb. 1.
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HONG KONG, Jan 9- China's insurance regulator is expected to reject HSBC's sale of its $9.4 billion stake in Ping An Insurance to Thai conglomerate CP Group, media reports said on Wednesday. The failure of the deal would be a blow to HSBC and an embarrassment to the various parties involved in a corporate deal that was set to be Asia's second-largest last year.
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BEIJING/ HONG KONG, Jan 8- HSBC's sale of its $9.4 billion stake in Ping An Insurance to Thailand's CP Group has been thrown into jeopardy after state-run China Development Bank voiced concerns over funding for the deal, sources told Reuters.