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Industrial Conglomerates

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  • BERLIN, May 7- The head of German conglomerate Siemens expressed regret on Wednesday for referring to the West's showdown with Russia over Ukraine as "short-term turbulences" when he held a controversial meeting with Russian President Vladimir Putin in late March.

  • *Siemens buys energy assets of Rolls-Royce for 950 mln eur. Siemens confirmed on Tuesday that it was buying the aero-derivative gas turbine and compressor business of Rolls-Royce for roughly 950 million euros.

  • Siemens unveils overhaul, confirms Rolls-Royce buy Tuesday, 6 May 2014 | 4:33 PM ET

    BERLIN, May 6- German conglomerate Siemens announced a corporate overhaul on Tuesday which will streamline the structure of the company into nine divisions, see its healthcare business managed separately, and its audiology activities publicly listed.

  • OMAHA, Neb., May 3- Warren Buffett on Saturday defended his recent controversial vote on executive pay at Coca-Cola Co and disappointing performance at railroad BNSF as investors grilled him on his Berkshire Hathaway Inc conglomerate at its annual shareholder meeting.

  • OMAHA, May 3- Warren Buffett, chairman of conglomerate Berkshire Hathaway, on Saturday said that railroad BNSF will spend to improve its operations but is not planning to acquire any other businesses.

  • OSLO, April 30- Oil services firm Aker Solutions said on Wednesday it would split into two, keeping its best assets in a streamlined firm under new management as the market sours for several of its top business segments.

  • European shares drift lower, Alstom outperforms Wednesday, 30 Apr 2014 | 3:19 AM ET

    LONDON, April 30- European shares lost ground on Wednesday after sharp gains in the previous session as tensions in Ukraine continued to dog sentiment, though French conglomerate Alstom bucked the weak market trend.

  • *Talks not exclusive, Alstom can hold talks with Siemens. The French transport-to-turbines group is also set to receive an offer from its much larger German competitor Siemens AG, which said it had sent a letter to Alstom after its managing and supervisory boards had decided to make an offer.

  • NEW YORK, April 28- The next chief executive of Berkshire Hathaway should be the only one at the company to get options, Warren Buffett, the current head of the sprawling conglomerate, said on Monday.

  • MOSCOW, April 28- Sergei Chemezov, who worked in the old communist East Germany at the same time as President Vladimir Putin, sits atop sprawling conglomerate Rostec, which has stakes in some of Russia's largest industries and partnerships with foreign companies.

  • TOKYO, April 28- Panasonic Corp forecast a third straight year of operating profit growth as it wraps up a restructuring campaign to shift its focus from volatile consumer markets to more reliably profitable industrial products such as car batteries.

  • *American Tower, Axiata, private equity could eye stake. April 28- Viom Networks Ltd, an Indian phone tower operator majority owned by the Tata Group, is looking to raise funds either through a stake sale or an overseas listing that could raise up to $350 million, sources with direct knowledge of the matter said.

  • April 28- Hotel, energy and financial services conglomerate Loews Corp reported a 75 percent drop in quarterly profit as it booked a loss related to the pending sale of the annuity and pension deposit business of CNA Financial Corp..

  • TOKYO, April 28- Panasonic Corp expects a final blast of restructuring to help it to its third straight year of profit, with growth depending on higher-margin industrial products such as car batteries.

  • Loews quarterly profit falls 75 percent Monday, 28 Apr 2014 | 6:19 AM ET

    April 28- Hotel, energy and financial services conglomerate Loews Corp reported a 75 percent drop in quarterly profit as it booked a loss related to the pending sale of the annuity and pension deposit business of CNA Financial Corp..

  • TOKYO, April 28- Panasonic Corp forecast a third straight year of profit growth for the year to next March but at a much slower pace, counting on a re-orientation towards higher-margin industrial products such as car batteries to fuel growth.

  • *French minister confirms GE wants to buy Alstom power arm. *President Hollande gathers ministers to discuss Alstom. PARIS/ FRANKFURT, April 27- Siemens and the French government intervened in General Electric's plan to buy the power arm of Alstom on Sunday with an alternative European "champions" tie-up proposal and a pledge to act in France's national interest.

  • PARIS/ FRANKFURT, April 27- Siemens and the French government intervened in U.S.-based General Electric's plan to buy the power arm of France's Alstom on Sunday by offering an alternative tie-up between European "champions" and a pledge to act in France's national interest.

  • *Siemens says willing "to discuss future strategic opportunities" with Alstom. PARIS/ FRANKFURT, April 27- Alstom's arch rival Siemens wants talks with the struggling French engineering group, the German company said on Sunday, the day General Electric boss Jeff Immelt is due in Paris to thrash out a deal to buy Alstom's global power arm.

  • PARIS, April 26- General Electric boss Jeff Immelt is due in Paris on Sunday and is expected to meet France's economy minister as he closes in on a deal to buy the global power arm of struggling French engineer Alstom, sources close to the matter said. Some put a $13 billion valuation on Alstom's turbines and power grid equipment business.