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Capital Goods Industrial Conglomerates

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  • *Bharti Airtel, Vodafone, Idea given provisional nod for payments bank. MUMBAI, Aug 19- India's leading mobile phone network operators Bharti Airtel Ltd and Vodafone India are among the 11 companies selected by the country's central bank to help set up "payments banks," aimed at granting millions of citizens access to basic banking. Energy-to-telecoms...

  • UPDATE 1-NBCUniversal invests $200 mln in BuzzFeed Tuesday, 18 Aug 2015 | 9:26 AM ET

    Aug 18- Comcast Corp's NBCUniversal said on Tuesday it had invested $200 million in online publisher BuzzFeed, the latest move by the media conglomerate to tap into a younger audience. NBCUniversal invested $200 million last week in Vox Media, owner of tech-focused websites The Verge and Re/code. Venture capital firm Andreessen Horowitz invested $50 million...

  • Aug 17- Media mogul John Malone's Liberty Interactive Corp said it would acquire Zulily Inc in a cash-and-stock deal valued at $2.4 billion to tap into the online retailer's younger clientele and its strong mobile presence. Zulily, a website that hosts "flash" sales of clothing primarily for women and children, counts Chinese ecommerce giant Alibaba Group...

  • BEIJING, Aug 17- The former chief executive and chairman of China Resources Power Holdings Co. Ltd. is being tried on allegations of graft, Chinese authorities said on Monday. Wang Yujun was put on trial on Aug. 12 in Zhenjiang, a city in the eastern province of Jiangsu, the country's procuratorate said in a statement on its website. China Resources Power Holdings is...

  • *Will no longer invest in Korea's Posco, Daewoo International. Construction firm IJM Corp Bhd and conglomerate Genting Bhd, both of Malaysia, and steelmaker POSCO and conglomerate Daewoo International Corp of South Korea, were removed from the fund. At the start of 2015, the Norwegian fund owned shares worth 1.49 billion Norwegian crowns in Posco, 67.5 million...

  • Aug 14- Warren Buffett's Berkshire Hathaway Inc on Friday said it boosted its stake in cable TV operator Charter Communications Corp, and signaled it may have another large investment planned after agreeing to buy Precision Castparts Corp in its largest-ever purchase. The changes were disclosed in a U.S. Securities and Exchange Commission filing detailing...

  • Aug 12- Deciding if you want to bet on Alphabet is essentially a choice on what you want to back: Sergey Brin and Larry Page or human nature. Brin and Page have changed the world and created a cash flow behemoth in Google. Human nature, on the other hand, has created every other conglomerate, which, with the possible exception of Berkshire Hathaway, have a general record...

  • JAKARTA, Aug 12- Thomas Lembong has mingled for years with bankers and private equity executives, but on Wednesday swapped that to take up the post of Indonesia's trade minister, an appointment designed to shore up investor faith in Southeast Asia's largest economy. Now in his early 40 s, Lembong worked at Deutsche Bank and Morgan Stanley before co-founding...

  • BEIJING, Aug 10- Alibaba Group Holding Ltd will invest $4.6 billion in top-tier Chinese electronics retailer Suning Commerce Group Co Ltd, its biggest step yet into China's burgeoning alliances between online and offline firms. Alibaba is paying 28.3 billion yuan for a 19.99 percent stake in Suning, which will in turn invest 14 billion yuan to acquire 1.1...

  • Earnings at Buffett’s Berkshire Hathaway fall 10% Friday, 7 Aug 2015 | 5:43 PM ET
    Warren Buffett

    Berkshire Hathaway's operating earnings were hurt by a $38 million loss for its insurance underwriting businesses.

  • Succession feud mars legacy of Lotte Group founder Friday, 7 Aug 2015 | 6:34 AM ET

    SEOUL, Aug 7- Shin Kyuk-ho, the founder of one of South Korea's biggest and best-known conglomerates, has sought to crown his rags-to-riches success story by building the country's tallest skyscraper. In addition to the Lotte World Tower rising on the banks of the Han river, the 92- year-old is also likely to be remembered for his failure to map out a clear...

  • TOKYO, Aug 6- SoftBank Corp reported an 8 percent rise in quarterly profit as loss-making Sprint Corp fared better than expected, leading the Japanese telecoms conglomerate to declare it was seeing "light at the end of the tunnel" for its U.S. unit. SoftBank, which bought the U.S. carrier for more than $20 billion in 2013, said on Thursday its April-June operating...

  • *Report shows discussion with Toshiba, auditors on Westinghouse loss. TOKYO, Aug 6- As more details emerge about years of accounts manipulation at Japanese conglomerate Toshiba Corp, corporate governance experts say there needs to be more scrutiny of the role of the company's auditors. But lawyers and corporate governance experts who have analyzed the 294-...

  • TOKYO, Aug 5- Toshiba Corp's chief executive apologized to Prime Minister Shinzo Abe's office on Wednesday after revelations of wide-spread accounting irregularities at the industrial conglomerate embarrassed government efforts to improve the country's corporate governance. An independent inquiry last month found Toshiba had inflated its profits...

  • TOKYO, Aug 5- Toshiba Corp's chief executive apologised to Prime Minister Shinzo Abe's office on Wednesday after revelations of wide-spread accounting irregularities at the industrial conglomerate embarrassed government efforts to improve the country's corporate governance. An independent inquiry last month found Toshiba had inflated its profits...

  • JERUSALEM, Aug 4- Leumi, Israel's second-largest bank, said on Tuesday it had sold another 5.2 percent stake in conglomerate Israel Corp for 500 million shekels. Leumi said it had sold the 400,000 shares of Israel Corp on Monday to a number of unnamed entities at 1,250 shekels each. Leumi still holds 5.9 percent of Israel Corp, the parent company of potash producer...

  • MEXICO CITY, Aug 3- Mexican companies warn they will have to raise prices if a steep slide in the peso currency persists, adding pressure on the central bank to hike interest rates despite a weak economy. Price hikes by manufacturers could push service providers to follow suit, unleash demand for higher wages and undo Mexico's success in bringing down inflation.

  • MUMBAI, Aug 3- India's Supreme Court on Monday asked the markets regulator to submit an application by September 14 seeking its approval to appoint a receiver to auction conglomerate Sahara's assets and refund investors in the troubled group's illegal bonds. The Supreme Court is "contemplating" appointing a receiver to auction Sahara properties, Shekhar...

  • Aug 3- Diamond Offshore Drilling Inc, one of the world's top-five offshore rig contractors, reported a much higher-than-expected quarterly profit, helped by demand for its high-tech ultra-deepwater rigs and a drop in operating costs. Diamond Offshore, majority owned by U.S. conglomerate Loews Corp, said on Monday that revenue from its ultra-deepwater...

  • Aug 3- Loews Corp, a hotel, energy and financial services conglomerate, reported a 44 percent drop in its quarterly operating profit due to lower revenue from its Diamond Offshore Drilling Inc unit and its insurance business. Diamond Offshore, Loews' second-largest subsidiary, also posted an 8.4 percent fall in quarterly revenue, hurt by weak demand due to a slump...