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Industrial Conglomerates

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  • *Likely gainers: Kalyani Steels and JSW Steel. *Likely losers: Sesa Sterlite and Essel Mining. NEW DELHI, May 9- When Indian prime ministerial hopeful Narendra Modi asked at an election rally if anyone knew of a country that exported wheat but imported bread, steelmakers joined his followers to cheer.

  • *Main opposition party says Sri Lanka has no real licences. COLOMBO, May 9- Sri Lanka will not oppose the casino planned for a $400 million mixed-use resort being developed by Australia's Crown Resorts Ltd if it is operated using an existing license held by a local partner, a top government official said on Thursday.

  • *Two production JVs and research centre planned in China. GENOA, Italy, May 8- Shanghai Electric Group has agreed to pay 400 million euros for 40 percent of power engineering company Ansaldo Energia, becoming the latest Chinese company to buy into Italy's fledgeling economic recovery.

  • May 8- General Electric, which wants to buy Alstom's energy businesses, is not in talks with Japanese conglomerate Toshiba Corp about the French company's power grid business, a GE France spokesman said on Thursday. The Nikkei business daily said Toshiba would offer to buy Alstom's power grid unit if GE purchased the French firm's energy businesses.

  • *CEO says won't stay in transport-focused Alstom. PARIS, May 7- French industrial engineer Alstom posted a drop in orders and annual profit and scrapped its dividend on Wednesday, underscoring its case for a deal with U.S. conglomerate General Electric to secure its future.

  • 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..