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Industrial Conglomerates

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  • BERLIN, Nov 6- German engineering group Siemens resigned itself to another year of flat sales on Thursday after reporting that one-off charges hit profits again in the fourth quarter, this time for wind turbines. Siemens, one of Germany's biggest companies and a major exporter of goods from trains to hospital equipment, said it first aimed to improve the...

  • Loews profit drops on lower investment income Monday, 3 Nov 2014 | 8:12 AM ET

    Hotel, energy and financial services conglomerate Loews reported a 26 percent drop in quarterly profit, partly due to lower investment income.

  • Nov 3- Hotel, energy and financial services conglomerate Loews Corp reported a 26 percent drop in quarterly profit due to lower investment income and weaker earnings from its oil rig and insurance subsidiaries. Net income attributable to Loews fell to $208 million, or 55 cents per share, in the third quarter ended Sept. 30, from $282 million, or 73 cents per share, a...

  • Nov 3- Hotel, energy and financial services conglomerate Loews Corp reported a 26 percent drop in quarterly profit, partly due to lower investment income. Net income attributable to Loews fell to $208 million, or 55 cents per share, in the third quarter ended Sept. 30, from $282 million, or 73 cents per share, a year earlier. Loews, controlled by New York's wealthy Tisch...

  • NAIROBI, Oct 31- Kenya, like other nations on a continent that boasts some of the fastest growth rates in the world, is racing to upgrade neglected infrastructure, improve regulations and revise often outdated economic figures to spur investment. But Kenya's challenges, many of which are mirrored across Africa, are formidable if it wants to build on recent gains.

  • JAKARTA, Oct 31- Indonesia's mining-to-telecoms conglomerate Bakrie Group will negotiate with creditors to restructure part of its $8 billion in debt rather than sell major assets, people familiar with its strategy say. Some creditors sued one Bakrie company in New York while a Jakarta supplier has asked an Indonesian court to supervise a debt...

  • MOSCOW, Oct 30- Russia won court approval on Thursday to seize shares held by a billionaire businessman's company in oil producer Bashneft over its "improper privatisation", marking a success for the latest state move to reclaim prized corporate assets. Moscow's Arbitration Court ruled in favour of prosecutors who said Bashneft was unlawfully sold to local...

  • MOSCOW, Oct 30- The Moscow Arbitration court ruled on Thursday that shares in Bashneft owned by Russian conglomerate Sistema should be returned to the state after an "improper privatization." A Reuters correspondent at the court said the judge had ruled in favor of the General Prosecutor's office, which argued that oil producer Bashneft was unlawfully...

  • The U.S. company, which is expected to get more than $1 billion from the planned sale, and Hyundai are working with separate investment banks on the deal, the person said. GE's spokesman in South Korea, Bill Joh, declined to comment on the matter, while representatives at Hyundai could not be immediately reached for comment. In response to a local South Korean media...

  • *Sistema lost 72 percent of its capitalisation since July. Russian prosecutors filed the suit last month to regain state ownership of Bashneft, saying there had been alleged violations in the privatisation and subsequent sale of the oil producer to Russian oil-to-telecoms conglomerate Sistema in 2009.. Sistema's shares, which lost 70 percent after it...

  • MOSCOW, Oct 23- A Russian court decided on Thursday to postpone hearings on the sale of shares in oil producer Bashneft to Russian conglomerate Sistema to Oct. 30.

  • Sharp drops in many of the stocks owned by Buffett's Berkshire Hathaway in recent weeks hit the sprawling conglomerate's equity portfolio hard. The loss on seven of those holdings alone totals more than $5 billion provided Berkshire's stakes have remained the same since June 30, the last date for which they were disclosed. Berkshire Hathaway did not respond...

  • Two manufacturers with significant exposure to oil markets, General Electric Co and Honeywell International Inc, said in interviews they did not see any short-term impact, but that sustained lower prices could alter the picture. They include Emerson Electric Co, which sells equipment such as valves, as well as automation software and services to help manage...

  • *UAE, Qatar change direction as Western markets dip. DUBAI, Oct 20- Most Middle Eastern stock markets fell on Monday as a rebound by global equities turned out to be short-lived, but Saudi Arabia's bourse rose after a string of strong quarterly earnings. Stock indexes in the United Arab Emirates and Qatar rose in early trade but quickly gave up all their gains after...

  • Oct 17- General Electric Co reported a slightly higher-than-expected quarterly profit on Friday, with cost cuts that helped boost margins across its industrial businesses offsetting revenue that missed analysts' targets. GE reported a 4 percent rise in organic revenue, which excludes acquisitions, at its industrial manufacturing businesses, where Chief...

  • Oct 17- General Electric Co reported a slightly higher-than-expected quarterly profit on Friday, as cost cuts that helped boost margins across its industrial businesses offset revenue that fell below analysts' targets. The U.S. conglomerate posted a 4 percent rise in organic revenue, which excludes acquisitions, for its industrial manufacturing...

  • UPDATE 1-GE profit tops estimates as margins improve Friday, 17 Oct 2014 | 7:19 AM ET

    Oct 17- General Electric Co reported a higher-than-expected quarterly profit on Friday, as margin improvement across its industrial businesses offset revenue that came in below analysts' targets. Third-quarter net income rose to $3.54 billion, or 35 cents per share, from $3.19 billion, or 31 cents per share, a year earlier. Excluding special items, earnings of 38...

  • RPT-Buffett cuts Tesco stake to below 3 pct Thursday, 16 Oct 2014 | 6:20 AM ET

    LONDON, Oct 16- Warren Buffett, the billionaire chairman and chief executive of conglomerate Berkshire Hathaway, has cut his vehicle's stake in troubled British grocer Tesco to below 3 percent, according to a stock market notification. The filing, published on Thursday, said that on Oct. 13 Berkshire reduced its Tesco holding to "less than 3 percent."

  • Levy was drafted in 2002 into the management team that revived the then telecoms-to-media conglomerate Vivendi. The 59- year-old, who began his career at France Telecom, spent a decade paring back Vivendi film, TV and Internet assets. "At Vivendi and at Thales, he didn't turn up with an entourage," said Capron, who was finance director at Vivendi during part of Levy's...

  • *Dubai closes below 200- day average, first time since 2012. *Ezz Steel lifts Egypt after govt restricts steel imports. DUBAI, Oct 15- Most stock markets in the Middle East continued to decline on Wednesday as global equities remained under pressure and disappointing quarterly earnings and forecasts weighed on bourses in Oman and Kuwait.