Industrial Conglomerates


  • The talks, which began in earnest over the past two months, represent another milestone in Prime Minister Shinzo Abe's bid to nurture a domestic military export industry that would also bring down Japan's defence procurement costs at a time of rising tensions between Tokyo and an increasingly assertive China.

  • Nestle wants bigger piece of high-end chocolate Sunday, 8 Jun 2014 | 3:00 AM ET

    ZURICH/ LONDON, June 8- Nestle's chief executive, who oversees a sprawling empire stretching from baby food to wrinkle treatment, admits to finding one of its oldest businesses, chocolate, a source of frustration.

  • SEOUL, June 6- The heirs of ailing Samsung Group patriarch Lee Kun- hee face one of the biggest inheritance tax bills ever, and appear to have little option but to pay up.

  • MADRID, June 5- Spain's biggest bank Santander has sold a historic skyscraper in Madrid to Chinese conglomerate Dalian Wanda Group for 265 million euros, as foreign investors pile into the country's property market.

  • *Saha Group expects sales up 5 pct in 2014. BANGKOK, June 3- Thailand's largest consumer product conglomerate Saha Group forecast on Tuesday 5 percent sales growth for this year, saying it expected the military government would soon implement economic reforms to restore confidence after a coup.

  • *Storm comes as Siemens is considering bid for Alstom. BERLIN/ MUNICH, May 30- The chief executive of German conglomerate Siemens tried to calm a brewing storm over job cuts on Friday after he let slip at an investor conference in New York that his plan to restructure the company could put up to 11,600 staff at risk.

  • MUNICH, May 30- The chief executive of German conglomerate Siemens said up to 11,600 jobs could be at risk in a restructuring plan he unveiled earlier this month that aims to save the company 1 billion euros annually. Previously Siemens had been structured along sectoral and regional lines.

  • SHANGHAI/ BEIJING, May 30- Chinese software companies such as Neusoft Corp and China National Software& Service Co Ltd are picking up sales and expanding their marketing as China trades cyber spying accusations with the United States.

  • PARIS, May 28- U.S. conglomerate General Electric is committed to creating 1,000 industrial jobs in France within three years to seal a deal to take over Alstom's power arm, a source close to the talks told Reuters. GE's Chief Executive Jeff Immelt himself made the commitment when he met French President Francois Hollande earlier on Wednesday, the source said.

  • *Shares in Alstom rise 1.9 percent. PARIS, May 28- U.S. conglomerate General Electric has improved its offer for French train and turbine maker Alstom, notably concerning the impact on jobs, an official at French President Francois Hollande's office said on Wednesday.

  • JOHANNESBURG, May 27- The new boss of South Africa's Adcock Ingram announced an overhaul of the struggling drugmaker to allow its different businesses to operate more independently in a bid to make them more nimble and increase accountability.

  • *Ukraine puts moratorium on arms export to Russia. KRAMATORSK, Ukraine, May 27- In quiet defiance of a promise by Kiev's pro-European government to cut arms ties with Moscow, a state-owned defence firm in eastern Ukraine has vowed to work around the clock to fill every Russian order it gets.

  • YEKATERINBURG, May 23- VSMPO-Avisma, the world's largest titanium producer, warned Airbus on Friday it would be forced to pay penalties if the European planemaker terminated a $4 billion contract with its Russian supplier.

  • UPDATE 1-Vivendi to sell 41.5 mln Activision shares Wednesday, 21 May 2014 | 6:38 PM ET

    May 21- Activision Blizzard Inc said Vivendi S.A. will sell 41.5 million of the videogames publisher's shares, as part of a planned stake sale announced by the French conglomerate last July.

  • *Atlas Mara to raise $400 mln to pursue acquisitions. *Barclays targets Africa potential as it scales back investment bank. This was just five days after Barclays, the British bank where Diamond was chief executive before he was ousted in 2012, announced the dismantling of the investment bank he built up and pinpointed Africa as one of its two main growth engines.

  • Industrialist Villar Mir glimpses new dawn in Spain Tuesday, 20 May 2014 | 7:38 AM ET

    MADRID, May 20- Billionaire industrialist Juan Miguel Villar Mir has been buying into Spain's battered property and wind power sectors, marking a change in domestic sentiment after a six-year crisis. The 82- year-old Villar Mir, the chairman of builder OHL and its private conglomerate parent Grupo Villar Mir, prospered abroad during the crisis.

  • JAKARTA, May 19- Indonesia's Joko "Jokowi" Widodo received a major boost in the race to become president of the world's third-largest democracy on Monday when he picked popular former vice president Jusuf Kalla as his running mate in the July election.

  • *Says government doesn't rule out taking a stake in Alstom. The government gave itself the power to block takeovers in "strategic" sectors on Thursday, throwing up a potential roadblock to U.S conglomerate General Electric's $16.9 billion bid for Alstom's power business.

  • May 14- China's CITIC Pacific Ltd said it had secured $5.1 billion to help fund the purchase of some $36 billion in assets from its state-owned parent company, as strategic investors lined up to give the landmark deal their blessing.

  • Renault-Nissan's Russian resilience has limits Wednesday, 14 May 2014 | 9:08 AM ET

    PARIS/ MOSCOW, May 14- Renault is looking closely at Western sanctions on Russia even though its carmaking alliance with Nissan appears better positioned than others to ride out the crisis over Ukraine.