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Industrial Conglomerates

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  • *In 2009, Goldman bought firm that once sold Iran uranium. LONDON, Feb 11- Goldman Sachs and Deutsche Bank are quietly trying to get out of a business few people know they are even in: trading supplies of raw uranium known as yellowcake.

  • NEW YORK/ LONDON, Feb 7- Swiss industrial conglomerate ABB Ltd is seeking to divest several units whose sale could raise more than $1 billion in total proceeds, according to people familiar with the matter, joining a list of large companies looking to shed non-core businesses.

  • NEW YORK, Feb 6- Carlyle Group LP has agreed to buy Illinois Tool Works Inc's industrial packaging unit for $3.2 billion, the private equity firm's latest acquisition of a large unit being carved out of conglomerates.

  • Carlyle nears $3B deal for Illinois Tool unit Thursday, 6 Feb 2014 | 5:02 PM ET
    A sign for the Carlyle Group, a private equity firm, in Washington, DC.

    Carlyle Group is close to reaching an agreement to buy Illinois Tool Works Inc's industrial packaging unit for more than $3 billion, sources said.

  • NEW YORK, Feb 6- nPrivate equity firm Carlyle Group LP is close to reaching an agreement to buy Illinois Tool Works Inc's industrial packaging unit for more than $3 billion, and could announce the deal as soon as Thursday, people familiar with the matter said.

  • NEW YORK, Feb 6- Illinois Tool Works Inc is nearing a deal to sell its industrial packaging unit for more than $3 billion, with buyout firms Carlyle Group LP and Onex Corp competing in the final stretch of the auction, people familiar with the matter said. It could not be learned, however, if Illinois Tool Works has granted exclusivity to either bidder.

  • While parts of the business have passed through the hands of some of the most famous and infamous names in the raw materials markets, its core is comprised of two enterprises considered among the most successful of their time: Sempra Commodities and Bear Stearns' power and gas desk.

  • Feb 4- Life and mortgage insurer Genworth Financial Inc reported a better-than-expected quarterly profit as a recovery in housing markets helped its U.S. mortgage insurance business. Shares of Genworth, which was spun off from industrial conglomerate General Electric Co ten years ago, rose more than 4 percent in extended trading.

  • TOKYO, Feb 4- Hitachi Ltd, Japan's largest electronics conglomerate, raised its full-year earnings forecast on Tuesday, putting it on course to break through a 23- year-old profit record as the automotive and construction sectors boosted its earnings.

  • SAO PAULO, Feb 3- A drop in natural gas prices caused by a shale gas boom in the United States is hurting Brazilian petrochemical company profits by reducing pricing power and making them less competitive, the head of the construction and industrial conglomerate Grupo Odebrecht SA said on Monday.

  • *Not clear whether Bidvest will raise stake further. JOHANNESBURG, Jan 31- South Africa's Bidvest said it had raised its stake in drugmaker Adcock Ingram to over 34 percent, enough to block a rival $1.2 billion bid and prompt Adcock to seek urgent talks with its Chilean suitor.

  • UPDATE 2-Viacom expects pick up in advertiser demand Thursday, 30 Jan 2014 | 10:17 AM ET

    Jan 30- Viacom Inc said on Thursday it expects advertising revenue from its cable networks like MTV, Comedy Central and Nickelodeon to improve this quarter, sending shares up 2.4 percent. Viacom is the first of the big media conglomerates to shed light on the U.S. advertising environment this year.

  • Danaher fourth-quarter profit beats estimates Tuesday, 28 Jan 2014 | 6:15 AM ET

    Jan 28- Healthcare conglomerate Danaher Corp reported a better-than-expected 25 percent rise in quarterly profit, driven by a 6 percent rise in sales. Net income rose to $789.3 million, or $1.11 per share in the quarter ended Dec. 31, from $630.4 million, or 89 cents per share, a year earlier. Excluding items, Danaher earned 96 cents per share.

  • LONDON, Jan 28- European shares rebounded from one-month lows in early trading on Tuesday, with Siemens gaining after posting a 15 percent jump in core operating profit. Shares in the German conglomerate rose more than 2 percent following impressive results as new Chief Executive Joe Kaeser reined in costs and tightened control of major projects.

  • DUBAI, Jan 23- Financial services conglomerate Dubai Group has reached a final deal with creditors on restructuring $10 billion of debt, resolving the last major hangover from the emirate's financial crisis, its parent company confirmed on Thursday.

  • Dubai confirms final deal on $10 bln debt restructuring Thursday, 23 Jan 2014 | 1:15 PM ET

    DUBAI, Jan 23- Financial services conglomerate Dubai Group has reached a final deal with creditors on restructuring $10 billion of debt, resolving the last major hangover from the emirate's financial crisis, its parent company confirmed on Thursday.

  • *Biggest shareholder Haniel under pressure after Celesio bid failed. BERLIN/ DUESSELDORF, Jan 21- A break-up of sprawling German retail group Metro AG looks unlikely despite speculation that the planned sale of a stake in its Russian cash-and-carry unit is the start of more radical restructuring.

  • NEW YORK, Jan 17- Wall Street stocks fell on Friday as quarterly earnings of Intel and General Electric disappointed, contributing to a decline in a measure of global equity markets, while the dollar hit a seven-week high against the euro. The S&P 500 and Nasdaq fell, led by losses in Intel and General Electric after disappointing results.

  • *Intel falls after results, outlook. NEW YORK, Jan 17- U.S. stock indexes mostly slipped on Friday, as declines in Intel and General Electric more than offset a rally in American Express shares in the wake of quarterly earnings.

  • *Wall Street edges lower as Intel, GE weigh after results. The S&P 500 was lower by afternoon session in New York as declines in Intel and General Electric outweighed the advance in American Express in the wake of their quarterly earnings. On Wall Street, Intel and General Electric were among the biggest decliners.

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