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Industrial Conglomerates

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  • SAN FRANCISCO/ NEW YORK, Feb 18- Federal authorities in San Francisco are probing U.S.-based Mirach Capital Group, two sources familiar with the situation told Reuters, amid allegations that the group gave a forged bank letter to Indian conglomerate Sahara as part of financing negotiations. Sahara had sought to borrow more than $1 billion from Mirach to help...

  • OTTAWA, Feb 17- Canada is imposing sanctions against top Russian oil firm NK Rosneft OAO and the head of conglomerate Rostec, among others, in response to the actions of Russian-backed militants in Ukraine, Ottawa said on Tuesday. In all, Canada- which said it was acting in coordination with the European Union and the United States- imposed sanctions against 37...

  • NEW YORK, Feb 17- Warren Buffett's Berkshire Hathaway Inc on Tuesday disclosed a new stake in agricultural and construction equipment maker Deere& Co, one of a handful of changes in its stock holdings during the fourth quarter. Berkshire reported a 17.1 million-share stake, according to a U.S. Securities and Exchange Commission filing that detailed its...

  • KAMPALA, Feb 17- A consortium led by Russia's RT Global Resources has won the contract to build and operate Uganda's $2.5 billion crude oil refinery, the energy ministry said on Tuesday, in a vital step to hasten oil production. RT Global Resources, owned by Russian defence conglomerate Rostec, leads a consortium that also includes Russian oil producer Tatneft...

  • UPDATE 2-Peltz softens stance on splitting DuPont Wednesday, 11 Feb 2015 | 11:14 AM ET

    *Trian Fund "open-minded" about keeping portfolio together. Feb 11- Activist investor Nelson Peltz's hedge fund said it was "open-minded" about keeping DuPont together, after agitating for months to break up the chemical conglomerate. Trian Fund Management LP detailed the change in strategy on Wednesday, while urging DuPont shareholders to vote Nelson Peltz...

  • Feb 11- Trian Fund Management LP urged DuPont shareholders to vote Nelson Peltz and three other nominees to the board, days after the chemical company named two of its own nominees as directors. The activist investor also noted that DuPont Chief Executive Ellen Kullman had sold more than half of her holdings in the company since the fund first disclosed its...

  • MUMBAI, Feb 11- Officials at India's market regulator, which is seeking redress for millions of investors it says were burnt in conglomerate Sahara's illegal bond scheme, say the group may not wholly own some of the properties in India it listed as proof of its ability to repay the savers. Questions over Sahara's ownership of the properties could severely...

  • LONDON, Feb 11- SABMiller is exploring the possibility of snapping up a stake in Myanmar's biggest brewer, a deal that would make it the partner of a conglomerate with ties to the former ruling military, sources familiar with the matter say. The sources, who declined to be identified because the matter is private, said SABMiller was interested.

  • BRUSSELS, Feb 9- Rich nations provided nearly $15 billion over a decade from 2003 to 2013 to fund exports of coal-fired power plant and coal mining technology, data seen by Reuters shows, defying calls to end subsidies for the most polluting of the fossil fuels. A document prepared late last year by the Paris- based Organisation for Economic Cooperation and...

  • Feb 9- Hotel, energy and financial services conglomerate Loews Corp reported a 13 percent fall in quarterly profit from continuing operations, mainly due to lower investment income. CNA Financial Corp, Loews's largest subsidiary, reported a 10 percent fall in profit due to lower net written premiums. Loews also controls Boardwalk Pipeline Partners LP and...

  • Feb 9- Hotel, energy and financial services conglomerate Loews Corp reported a 13 percent fall in quarterly profit from continuing operations, mainly due to lower investment income. Income from continuing operations fell to $215 million, or 57 cents per share, in the fourth quarter ended Dec. 31, from $248 million, or 64 cents per share, a year earlier.

  • MOSCOW, Feb 6- Russian farming conglomerate Rusagro Group said on Friday its fourth-quarter sales rose 25 percent to 21.55 billion roubles after a 68 percent jump in the previous quarter. The pork and sugar producer said earlier it planned to post the highest annual net income in its history in 2014, boosted by Russia's ban on Western meat imports.

  • Russia's Rusagro says Q4 sales rise 25 pct yr/yr Friday, 6 Feb 2015 | 3:03 AM ET

    MOSCOW, Feb 6- Russian farming conglomerate Rusagro Group said on Friday its fourth-quarter sales rose 25 percent to 21.55 billion roubles after a 68 percent jump in the previous quarter.

  • *Says was considering a Trian nominee as additional board member. *Says Trian wants Nelson Peltz himself on DuPont board. Feb 5- Trian Fund Management turned down DuPont's proposal to consider appointing one of the activist investor's nominees to the company's board as the fund wanted its chief executive, Nelson Peltz, to get a seat, the chemical maker said.

  • MUMBAI, Feb 5- Indian conglomerate Sahara Group said on Thursday a Bank of America letter, submitted by a U.S.-based former broker, guaranteeing funds for a deal for the bail bond of its jailed chief was forged. Sahara said in a statement that it had found out that the Bank of America letter, submitted by Mirach in the Supreme Court as a proof that it has set aside a...

  • Feb 5- Even after two deadly crashes in seven months, TransAsia Airways Corp will likely rebound quickly as insurance covers any financial losses and its coveted routes through Taipei's downtown airport keep it popular with business travelers. "Songshan is in downtown Taipei... so their flights are valuable, especially for the corporate guys," said Marc Wang,...

  • NEW YORK, Feb 4- Billionaire investor Warren Buffett said on Wednesday he is likely to buy a small business in Western Europe and he would like to buy more businesses abroad. "We'd like to buy more businesses around the world," Buffett, the head of conglomerate Berkshire Hathaway Inc, said in an interview with Fox Business Network. With growth in the world's largest...

  • Sahara's head of corporate finance, Sandeep Wadhwa, said Sahara's lawyers had verified with Bank of America that Sharma has deposited just over $1 billion in an account at the bank that is "earmarked for the said transaction." After Reuters asked the bank to look into the account, spokeswoman Jumana Bauwens issued a statement saying: " Bank of America isn't...

  • MEXICO CITY, Feb 4- Grupo Mexico's quarterly profit fell 24 percent on exchange rate and financing costs, the mining and transportation conglomerate said on Wednesday, but its share price surged 6 percent as investors cheered a possible rail unit offering. Grupo Mexico said fourth-quarter profit fell to $380 million from $500.67 million in the year-earlier...

  • SINGAPORE/ MANILA, Feb 3- Standard Chartered is looking to sell its retail business in the Philippines, part of a wider bid by embattled CEO Peter Sands to cut costs and shrink the bank's asset base, a person with direct knowledge of the matter said. A spokesman for Standard Chartered said the bank would "not comment on speculation". Standard Chartered's assets in the...