Capital Goods Industrial Conglomerates

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  • WASHINGTON, Feb 4- Even as the Federal Reserve began raising interest rates in December its message was clear: it wanted to keep monetary conditions loose and felt the United States still needed accommodation to keep a modest recovery underway. Now, markets seem to have taken matters into their own hands. "That tightening has got to be taken into account because it...

  • OMAHA, Neb.— Berkshire Hathaway has purchased nearly 1.7 million more shares of Phillips 66 to give it ownership of almost 14 percent of the oil refiner. Berkshire Hathaway owns about 90 subsidiaries in a variety of industries, including insurance, utilities, railroads, retail and manufacturing. It also holds major investments in Coca-Cola Co., Wells Fargo& Co.,...

  • TOKYO, Feb 4- Japanese industrial conglomerate Toshiba Corp expects a bigger full-year loss than previously anticipated, amid mounting restructuring costs after a $1.3 billion accounting scandal. Toshiba said on Thursday it now expected a net loss of 710 billion yen compared with a previously expected loss of 550 billion yen. Chief Executive Masashi...

  • Toshiba sees bigger loss as restructuring costs mount Thursday, 4 Feb 2016 | 1:16 AM ET

    TOKYO, Feb 4- Japanese industrial conglomerate Toshiba Corp said it expects a bigger loss than it previously forecast amid mounting restructuring costs after a $1.3 billion accounting scandal. Toshiba said it now expected a net loss of 710 billion yen compared with a previously expected loss of 550 billion yen. Toshiba is trying to recover from the...

  • China's five options to boost growth: HSBC Tuesday, 2 Feb 2016 | 1:13 AM ET

    China's policymakers still have ammunition to counter the mainland's slowing economy, including supply-side reforms and subsidized housing, HSBC said.

  • MUMBAI, Jan 31- India's embattled Sahara conglomerate has been funnelling cash from small savers to fund one of its biggest projects, a luxury resort south of Mumbai, according to documents Reuters reviewed. Sahara has ploughed at least 15 billion Indian rupees from two of its credit cooperatives into the Aamby Valley resort project through investments in...

  • Berkshire resumes buying Phillips 66 stock Saturday, 30 Jan 2016 | 12:14 PM ET

    Jan 30- Berkshire Hathaway Inc, the conglomerate run by Warren Buffett, has resumed its purchases of Phillips 66 stock, and spent roughly $832 million in January to boost its stake even as the oil refiner's profit margins narrowed. According to a regulatory filing on Friday night, Berkshire paid about $198 million this week for 2.54 million Phillips 66 shares, its...

  • Warren Buffett has gifted $32M in stock since July Thursday, 28 Jan 2016 | 11:13 AM ET

    OMAHA, Neb.— Billionaire Warren Buffett has given unnamed individuals and charities more than $32 million worth of Berkshire Hathaway stock since late July. The gifts, disclosed in documents filed with the Securities and Exchange Commission this week, are a relatively small part of Buffett's plan to give most of his $58.3 billion fortune to charity.

  • China December industrial profits fall 4.7 percent Wednesday, 27 Jan 2016 | 1:32 AM ET
    This picture taken on September 18, 2014 shows a truck carries ores from a quarry in the outskirts of Urumqi

    Profits earned by Chinese industrial firms in December fell 4.7 percent from a year earlier, as the slowing economy hits sales and forces price cuts.

  • The U.S. conglomerate plans to spend $3.4 billion on restructuring measures this year, double the $1.7 billion it targeted just last month, Chief Financial Officer Jeff Bornstein said in an interview just hours after the company reported lower-than-expected quarterly revenue. Investors sent GE shares down 1.8 percent to $28.07 on the New York Stock...

  • ISTANBUL, Jan 21- Mustafa Koc, chairman of Turkey's biggest conglomerate Koc Holding and one of the country's best-known corporate figures, has suffered a heart attack and is being treated in hospital, a hospital official told Reuters on Thursday. Koc Holding, a conglomerate with businesses ranging from energy to automobiles, accounts for close to 10 percent of...

  • The company said on Tuesday that it expected to record pre-tax restructuring charges of $2.0 billion to $2.4 billion in connection with these plans, of which about $600 million will be recorded in the fourth quarter of 2015.. The restructuring is expected to result in annualized pre-tax cost savings of $800 million to $1 billion, J&J said.

  • Missing Chinese billionaire returns to work Monday, 18 Jan 2016 | 6:52 AM ET
    Zhou Chengjian, chairman of Metersbonwe Ltd.

    Metersbonwe, one of China's top brands, said in a statement to the Shenzhen stock exchange on Friday that founder Zhou Chengjian was back at work.

  • BEIJING/ HONG KONG, Jan 18- For an economy facing its slowest economic growth in a quarter century, a 7.7 percent year-on-year rise in new home prices in December would seem to offer China some light at the end of the tunnel. But the headline number, published by the National Bureau of Statistics on Monday, masks China's massive property problem- a vast amount of...

  • BEIJING, Jan 14- Flanked by models in white sequin dresses, amid booming music and dazzling lights, China's richest man savoured his latest entertainment triumph this week, the announcement of a $3.5 billion deal to take over a Hollywood blockbuster movie studio. Acquiring Legendary Entertainment puts Wang Jianlin and his conglomerate, the Dalian Wanda Group,...

  • *A blow to Connecticut, where GE was based for 42 years. NEW YORK, Jan 13- General Electric Co said on Wednesday it will move its global headquarters to Boston, tapping the city's technology talent and likely lowering its tax bill as the industrial conglomerate seeks to lift profit and emphasize digital capabilities. Massachusetts spends more on research and...

  • NEW YORK, Jan 13- General Electric Co said on Wednesday it will move its global headquarters to Boston, tapping the city's technology talent as the industrial conglomerate seeks to emphasize its digital capabilities. Massachusetts spends more on research and development than any other region in the world, and Boston attracts a diverse,...

  • SoundCloud inks licensing deal with Universal Music Wednesday, 13 Jan 2016 | 11:05 AM ET

    Jan 11- Universal Music Group, a unit of French media conglomerate Vivendi SA and SoundCloud signed a deal on Wednesday that will allow the popular audio-streaming firm to continue playing music owned by the record label. As part of the deal, Universal Music will gain access to Berlin- based SoundCloud's promotional tools, analysis and data to help its recording...

  • BEIJING, Jan 12- China's property-to-entertainment conglomerate Dalian Wanda Group plans to pair newly acquired Hollywood movie studio Legendary Entertainment with its in-house film production unit and seek a stock market listing for the packaged operations, Wanda's chairman said at a press conference on Tuesday. Wang Jianlin did not specify a...

  • Jan 11- Billionaire activist investor Carl Icahn is building an equity stake in Time Warner Inc, people familiar with the matter said on Monday, in a move that could lead to a major shake-up of the media conglomerate. The New York Post said on Sunday that Icahn was believed to be buying up Time Warner shares and "will take another run at the company," citing anonymous...