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Industrial Conglomerates

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  • SEOUL, Jan 13- Hyundai Motor Co on Tuesday said its chairman and his son failed to sell about $1.25 billion worth of shares in affiliate Hyundai Glovis, complicating succession moves at South Korea's second-biggest family-owned conglomerate. Hyundai Motor Chairman Chung Mong- koo and Vice Chairman Chung Eui-sun on Monday offered 5.02 million shares at...

  • SEOUL, Jan 13- Hyundai Motor Co on Tuesday said its chairman and his son failed to sell about $1.25 billion worth of shares in affiliate Hyundai Glovis, thwarting a succession move at South Korea's second-biggest family-owned conglomerate. Hyundai Motor Chairman Chung Mong- koo and Vice Chairman Chung Eui-sun on Monday offered 5.02 million shares at 264,000...

  • *Egypt's GB Auto soars on rights issue, investment plans. DUBAI, Jan 12- Gulf stock markets ran out of steam on Monday after several strong sessions as oil prices fell by more than $1 a barrel, although positive fourth-quarter corporate earnings supported individual stocks. Brent crude traded below $49 after analysts at Goldman Sachs cut their average forecast...

  • SEOUL, Jan 12- Hyundai Motor Co's chairman and vice chairman are seeking to raise about $1.25 billion by selling shares of Hyundai Glovis, a person familiar with the matter said, a move that could smooth succession in the family-owned conglomerate. The sale could help vice chairman and heir apparent Chung Eui-sun buy stakes in key units such as Hyundai Motor, Kia...

  • GANDHINAGAR, India, Jan 11- Indian Prime Minister Narendra Modi promised on Sunday to pursue predictable policies and ensure stable taxes, in a speech that sought to address key concerns for foreign investors in Asia's third-largest economy. President Barack Obama visits India later this month. Along with speakers from Japan, Canada and Singapore, Kerry...

  • GANDHINAGAR, India, Jan 11- Global statesmen and business titans descended on Indian Prime Minister Narendra Modi's home state on Sunday to pay homage to the man they count on to unleash big-bang reforms and create one of the few bright spots in a troubled world economy. Big business cheered Modi when he won India's strongest election mandate in 30 years last May,...

  • Trian's Peltz escalates campaign to break up DuPont Friday, 9 Jan 2015 | 8:12 AM ET

    Activist investor Nelson Peltz stepped up his fight to break up the company, as his Trian Fund nominated himself and three other members to the board.

  • Li's two largest listed companies are Cheung Kong and Hutchison Whampoa, which both run a wide range of businesses. As on Jan. 7, Cheung Kong, which owns just under half of Hutchison Whampoa, traded at a 23 percent discount, or about HK $87 billion, to its book value at the end of June 2014, the statement said. "The issue of holding company discount has puzzled us for a long...

  • Jan 8- Activist investor Nelson Peltz, one of DuPont's largest shareholders, stepped up his fight to break up the industrial conglomerate, as his Trian Fund nominated himself and three other members to the board. Trian Fund Management L.P., which Peltz heads, said on Thursday that investment funds it manages own 24.3 million DuPont shares worth about $1.8 billion.

  • Jan 8- Trian Fund Management L.P., one of DuPont's largest shareholders, nominated its chief executive Nelson Peltz and three other members to DuPont's board. Investment funds managed by Trian currently own 24.3 million DuPont shares valued at about $1.8 billion, Trian Fund said on Thursday. In September, Trian Fund urged DuPont to break itself up, saying that...

  • *Bourse merger speculation lifts Dubai's DFM. DUBAI, Jan 8- Gulf stock markets extended gains on Thursday after oil rebounded slightly from its Wednesday low and several companies made positive announcements. Supported by a fall in U.S. crude oil inventories, Brent futures traded above $51 per barrel on Thursday after briefly dropping below $50 in the previous...

  • *Dubai's Marka soars on acquisition news. *Govt spending may boost Dubai property sector- analyst. DUBAI, Dec 28- Gulf stock markets rose on Sunday despite oil's weakness as Saudi Arabia's plan to maintain government spending at a high level boosted investor confidence.

  • HONG KONG, Dec 22- Hong Kong shares produced solid gains on Monday, underpinned by gains in mainland markets plus stability in crude oil prices and the Russian ruble. The H-share index far outperformed the Hang Seng index as Chinese energy conglomerates listed in Hong Kong rises. Among the most actively traded stocks on Hong Kong's main board were Alibaba...

  • DoJ to ask Alstom, not GE, to bear any bribery fine. *Alstom shares down 3.6 percent. PARIS, Dec 19- Engineering group Alstom unsettled investors on Friday by saying it will not be able to transfer to General Electric a looming U.S. fine over bribery allegations.

  • UPDATE 1-China's Fosun raises offer for Club Med Friday, 19 Dec 2014 | 3:48 AM ET

    PARIS, Dec 19- Chinese billionaire Guo Guangchang on Friday sweetened his bid for struggling Club Mediterranee at the last minute, trumping a 24 euros offer from Italian tycoon Andrea Bonomi in France's longest-running takeover battle. The new offer was made by Gaillon Invest II, majority controlled by Guo's Fosun conglomerate. It now includes Fosun with a...

  • Dec 18- U.S. industrial conglomerate General Electric Co plans to release its first feature film through video streaming devices like Roku and Apple TV in a marketing effort that raises the bar for sponsored content. In addition, GE will launch other videos to complement the film, such as interviews with Nas and a segment with former Grateful Dead drummer Mickey...

  • PUTIN SAYS HOPES SISTEMA'S CONGLOMERATE WILL RESTORE ITS POSITION ON STOCK MARKET.

  • MOSCOW, Dec 18- Shares in Russian business conglomerate Sistema surged around 35 percent in early trading on Thursday after the company's chairman was freed from house arrest after the market closed on Wednesday. Interfax reported that Vladimir Yevtushenkov was freed on Wednesday, citing his lawyer. Yevtushenkov's arrest and the seizure by the state of one...

  • SEOUL, Dec 18- Shares in Cheil Industries Inc, the de facto holding company of Samsung Group, doubled on its debut on Thursday in the latest in a series of steps toward generational succession for South Korea's largest conglomerate. Cheil is about 42 percent owned by Samsung Electronics Co Ltd Chairman Lee Kun- hee and his three children, and is expected to be the...

  • *Expects 2015 earnings $1.70- $1.80/ share vs est $1.79. NEW YORK, Dec 16- General Electric Co gave a 2015 profit forecast range on Tuesday that barely included Wall Street's target as the U.S. conglomerate braced for a "sluggish" oil and gas sector due to plunging crude prices. "We're really planning the company for a sluggish oil and gas sector in' 15," Chief Executive...