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Industrial Conglomerates

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  • *Dubai World proposes to make 1st big repayment early, delay 2nd. DUBAI, Aug 1- Economic recovery in Dubai is pushing both creditors and debtors to weigh new strategies in the $25 billion restructuring of state-owned Dubai World, one of the Middle East's largest ever debt deals.

  • NEW YORK/ HOUSTON, July 31- Chemicals firm LyondellBasell, part of Ukrainian-born billionaire Leonard Blavatnik's business empire, said it will quit buying "disputed" oil from Iraq- one day after Reuters identified it as the mystery American importer of Kurdish crude.

  • TORONTO, July 31- Canadian telecom and media conglomerate Quebecor Inc says it is closing in on a decision on whether to buy up smaller competitors or team up with a partner to expand its wireless operations outside its home province of Quebec.

  • TORONTO, July 31- Regional Canadian telecom and media conglomerate Quebecor Inc posted a much smaller second-quarter net loss on flat revenue on Thursday, as cost-cutting in its media unit offset weakness in its wireless and cable arm.

  • NEW YORK, July 30- Chemicals firm LyondellBasell, owned by Ukraine- born billionaire Leonard Blavatnik, appears to be the mystery American buyer of two cargoes of Kurdish crude delivered in May, according to U.S. government data and industry sources.

  • Saudi bourse opening may double fund flows to Gulf Wednesday, 23 Jul 2014 | 11:42 AM ET

    *Saudi Arabia as big as other Gulf markets combined. DUBAI, July 23- The opening of Saudi Arabia's bourse to international investors may double the amount of foreign money flowing into the Gulf's securities markets, making it more attractive to invest in the region but also bringing new risks.

  • *Gross refining margin $8.7/ bbl in Q1 from $8.4/ bbl yr ago. MUMBAI, July 19- Indian energy conglomerate Reliance Industries Ltd's quarterly net profit topped market expectations, bolstered by strong revenue growth in its oil and gas business and higher margins in its core refining business.

  • *Angola central bank says BES's Angola unit needs capital increase.

  • *Angola central bank says BES's Angola unit needs capital increase. LISBON, July 18- Financial problems at Portugal's Espirito Santo business empire spilled further across national borders on Friday, with Angola's central bank saying the local division of Banco Espirito Santo would need a capital increase to deal with bad loans.

  • July 18- General Electric Co reported a 13- percent jump in quarterly net income Friday on improved sales of its jet engines and oil and gas equipment, and said it was targeting the initial public offering of its private-label credit-card business for the end of the month.

  • GE profit rises, helped by jet engine, oil equipment Friday, 18 Jul 2014 | 7:19 AM ET
    A mechanic works to hang a gearbox on a CF6-80C2 jet engine at General Electric's GE Aviation factory in Cincinnati, Ohio.

    GE posted a 13 percent rise in net income, helped by increases in sales of its jet engines and oil and gas equipment.

  • Murdoch tells G20 govts to take a back seat for growth Thursday, 17 Jul 2014 | 2:15 AM ET

    SYDNEY, July 17- Media mogul Rupert Murdoch on Thursday criticised excessive financial regulation as stymieing free markets and urged Group of 20 governments to "take a back seat" to allow businesses to drive economic growth.

  • NEW YORK, July 16- Time Warner Inc's board, in rejecting 21st Century Fox Inc's $80 billion bid, insisted the offer undervalued the media conglomerate and raised fears about the dominating role that Rupert Murdoch's family would play, a person close to the situation said on Wednesday.

  • *Time Warner shares up 16.9 percent. NEW YORK, July 16- Rupert Murdoch's 21st Century Fox Inc said on Wednesday that Time Warner Inc had rebuffed its offer to buy the company, but people familiar with his thinking say he is determined to bring the U.S. media conglomerate into his empire.

  • *Murdoch may consider higher offer for Time Warner- sources. NEW YORK, July 16- Rupert Murdoch's 21st Century Fox Inc said on Wednesday it had offered to buy Time Warner Inc, a move that would unite two of the world's most powerful media conglomerates, but Time Warner rebuffed its offer.

  • UPDATE 2-Murdoch's Fox hunting Time Warner Wednesday, 16 Jul 2014 | 8:35 AM ET

    *Murdoch determined to pursue Time Warner- NYT. July 16- Rupert Murdoch's 21st Century Fox said it made a bid to buy media conglomerate Time Warner Inc but was rebuffed. Time Warner's stock jumped 22.5 percent to $87 premarket as the New York Times reported that Murdoch was determined to buy Time Warner and was unlikely to walk away despite the rejection.

  • July 16- Media mogul Rupert Murdoch is determined to buy Time Warner Inc after the media conglomerate rejected an $80 billion buyout offer from Twenty-First Century Fox Inc, the New York Times reported. Twenty-First Century Fox, controlled by Murdoch, offered last month to buy Time Warner for $85 per share in cash and stock, the newspaper reported.

  • By Sergio Goncalves and Laura Noonan. LISBON July 11- Portugal's government and central bank assured investors on Friday that the southern European country's financial system was sound, aiming to quell worry about the spillover effects of trouble at the Espirito Santo business empire.

  • July 10- Online music sharing service SoundCloud Ltd is close to a deal with Universal Music Group, Sony Music Entertainment, and Warner Music Group for licenses to continue playing their songs and avoid potential legal disputes, Bloomberg reported citing people with knowledge of the matter.

  • DUBAI, July 3- Dubai World, one of the emirate's big state-owned conglomerates, has made a second early repayment worth around $300 million under its $25 billion debt restructuring plan, sources familiar with the matter said on Thursday.