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Industrial Conglomerates

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  • Feb 11- Trian Fund Management LP urged DuPont shareholders to vote Nelson Peltz and three other nominees to the board, days after the chemical company named two of its own nominees as directors. The activist investor also noted that DuPont Chief Executive Ellen Kullman had sold more than half of her holdings in the company since the fund first disclosed its...

  • MUMBAI, Feb 11- Officials at India's market regulator, which is seeking redress for millions of investors it says were burnt in conglomerate Sahara's illegal bond scheme, say the group may not wholly own some of the properties in India it listed as proof of its ability to repay the savers. Questions over Sahara's ownership of the properties could severely...

  • LONDON, Feb 11- SABMiller is exploring the possibility of snapping up a stake in Myanmar's biggest brewer, a deal that would make it the partner of a conglomerate with ties to the former ruling military, sources familiar with the matter say. The sources, who declined to be identified because the matter is private, said SABMiller was interested.

  • BRUSSELS, Feb 9- Rich nations provided nearly $15 billion over a decade from 2003 to 2013 to fund exports of coal-fired power plant and coal mining technology, data seen by Reuters shows, defying calls to end subsidies for the most polluting of the fossil fuels. A document prepared late last year by the Paris- based Organisation for Economic Cooperation and...

  • Feb 9- Hotel, energy and financial services conglomerate Loews Corp reported a 13 percent fall in quarterly profit from continuing operations, mainly due to lower investment income. CNA Financial Corp, Loews's largest subsidiary, reported a 10 percent fall in profit due to lower net written premiums. Loews also controls Boardwalk Pipeline Partners LP and...

  • Feb 9- Hotel, energy and financial services conglomerate Loews Corp reported a 13 percent fall in quarterly profit from continuing operations, mainly due to lower investment income. Income from continuing operations fell to $215 million, or 57 cents per share, in the fourth quarter ended Dec. 31, from $248 million, or 64 cents per share, a year earlier.

  • MOSCOW, Feb 6- Russian farming conglomerate Rusagro Group said on Friday its fourth-quarter sales rose 25 percent to 21.55 billion roubles after a 68 percent jump in the previous quarter. The pork and sugar producer said earlier it planned to post the highest annual net income in its history in 2014, boosted by Russia's ban on Western meat imports.

  • Russia's Rusagro says Q4 sales rise 25 pct yr/yr Friday, 6 Feb 2015 | 3:03 AM ET

    MOSCOW, Feb 6- Russian farming conglomerate Rusagro Group said on Friday its fourth-quarter sales rose 25 percent to 21.55 billion roubles after a 68 percent jump in the previous quarter.

  • *Says was considering a Trian nominee as additional board member. *Says Trian wants Nelson Peltz himself on DuPont board. Feb 5- Trian Fund Management turned down DuPont's proposal to consider appointing one of the activist investor's nominees to the company's board as the fund wanted its chief executive, Nelson Peltz, to get a seat, the chemical maker said.

  • MUMBAI, Feb 5- Indian conglomerate Sahara Group said on Thursday a Bank of America letter, submitted by a U.S.-based former broker, guaranteeing funds for a deal for the bail bond of its jailed chief was forged. Sahara said in a statement that it had found out that the Bank of America letter, submitted by Mirach in the Supreme Court as a proof that it has set aside a...

  • Feb 5- Even after two deadly crashes in seven months, TransAsia Airways Corp will likely rebound quickly as insurance covers any financial losses and its coveted routes through Taipei's downtown airport keep it popular with business travelers. "Songshan is in downtown Taipei... so their flights are valuable, especially for the corporate guys," said Marc Wang,...

  • NEW YORK, Feb 4- Billionaire investor Warren Buffett said on Wednesday he is likely to buy a small business in Western Europe and he would like to buy more businesses abroad. "We'd like to buy more businesses around the world," Buffett, the head of conglomerate Berkshire Hathaway Inc, said in an interview with Fox Business Network. With growth in the world's largest...

  • Sahara's head of corporate finance, Sandeep Wadhwa, said Sahara's lawyers had verified with Bank of America that Sharma has deposited just over $1 billion in an account at the bank that is "earmarked for the said transaction." After Reuters asked the bank to look into the account, spokeswoman Jumana Bauwens issued a statement saying: " Bank of America isn't...

  • MEXICO CITY, Feb 4- Grupo Mexico's quarterly profit fell 24 percent on exchange rate and financing costs, the mining and transportation conglomerate said on Wednesday, but its share price surged 6 percent as investors cheered a possible rail unit offering. Grupo Mexico said fourth-quarter profit fell to $380 million from $500.67 million in the year-earlier...

  • SINGAPORE/ MANILA, Feb 3- Standard Chartered is looking to sell its retail business in the Philippines, part of a wider bid by embattled CEO Peter Sands to cut costs and shrink the bank's asset base, a person with direct knowledge of the matter said. A spokesman for Standard Chartered said the bank would "not comment on speculation". Standard Chartered's assets in the...

  • *Saudi Arabia also boosted by lavish royal payout. DUBAI, Feb 1- Saudi Arabia's stock market rose sharply on Sunday after King Salman ordered a lavish payout to state employees and oil prices jumped on reports of declining U.S. drilling activity. Petrochemicals giant Saudi Basic Industries, up 7.8 percent, was the main support on Sunday.

  • It is seen as a potential distribution center for the Caribbean and Central and South America and is at the heart of a special development zone designed to attract foreign investment in Cuba. The United States and Cuba are restoring diplomatic relations after five decades of hostilities, though full trade and travel will take longer as President Barack Obama...

  • United Tech cuts 2015 forecasts on currency worries Tuesday, 27 Jan 2015 | 12:24 PM ET
    United Technologies

    United Technologies cut its full-year outlook because of the negative impact of a stronger dollar as the U.S. conglomerate reported higher earnings.

  • Jan 26- United Technologies Corp on Monday cut its full-year outlook because of the negative impact of a stronger dollar even as the U.S. conglomerate reported higher quarterly earnings on a rise in profit at its aerospace businesses. United Technologies said fourth-quarter net income rose 0.7 percent to $1.47 billion from the same period a year ago.

  • HONG KONG, Jan 26- Dalian Wanda Group, China's biggest commercial real estate conglomerate, said on Monday it is investing $1 billion in a prime property development close to Sydney Harbor, its second large investment in Australia. Australia was the third top destination for Chinese property investment after the United States and Britain in the first eleven...