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Capital Goods Industrial Conglomerates

  • July 24- Privately-owned conglomerate HNA Group, one of China's most aggressive dealmakers, is shaking up its shareholding structure with a new, charitable foundation, part of efforts to quash long-standing concerns over its ownership. As China cracks down on showy overseas ventures and high-profile empire builders, pressure is rising on sprawling,...

  • *Q2 EPS $1.80 vs est $1.78. *Q2 revenue $10.08 bln vs est $9.89 bln. Third Point, run by billionaire Dan Loeb, in April said the spin off of the aerospace business could create more than $20 billion in shareholder value.

  • NEW YORK— General Electric Co. on Friday reported dip in second-quarter profit and revenue on lackluster performance from its energy connections unit. Still, the industrial conglomerate beat Wall Street expectations as longtime CEO Jeff Immelt prepares to hand over the reins to John Flannery in August. The average estimate of eight analysts surveyed by...

  • BERLIN— German industrial conglomerate Siemens said Friday it is halting deliveries of power generation equipment to state-controlled companies in Russia after some of the turbines it sold to Russia were reportedly sent to Crimea. The company had said this month that gas turbines it had delivered to Russia were re-routed to Crimea, in violation both of...

  • SAO PAULO, July 20- Canada's Brookfield Asset Management Inc is in talks with Odebrecht SA to buy seven Brazilian highways operated by the conglomerate's transportation unit, two sources with knowledge of the matter said on Thursday. One of the largest is the Rota das Bandeiras, in Sao Paulo, Brazil's richest state. The conglomerate, as part of a $3.5 billion...

  • *China business had over $3.5 bln revenue last year. *Cardinal sale move comes amid China drug distribution reform. HONG KONG, July 20- U.S. drug distributor Cardinal Health has put its China business up for sale, drawing keen interest from state-backed Chinese pharmaceutical firms in a deal that may be worth up to $1.5 billion, sources familiar with the matter said.

  • SINGAPORE, July 20- Singaporean conglomerate Keppel Corp on Thursday reported a 21 percent drop in its second-quarter profit, hurt by lower revenue from its offshore and marine segment. Keppel, in which Singapore state investor Temasek is the biggest shareholder, reported a net profit of S $161 million for the three months ended in June, versus S $205 million a...

  • *Russia rushing to finish two Crimea power plants. *Such a task has never been done in Russia before. MOSCOW, July 19- Russia outfoxed European Union sanctions by delivering gas turbines made by Germany's Siemens to the annexed Ukrainian region of Crimea.

  • *Wanda is one of China's most aggressive overseas dealmakers. SHANGHAI, July 19- China's curbs on property giant Dalian Wanda Group's overseas deals are spreading a chill at home and abroad, raising fears that a campaign to root out risky overseas investments could draw in rival Chinese conglomerates and even Hollywood studios. Giant Chinese retailer Suning...

  • July 18- McCormick& Co Inc said it would buy the food business of British consumer goods conglomerate Reckitt Benckiser Group Plc for $4.2 billion to expand its footprint in the attractive condiments category. McCormick expects the hot sauce category will continue to see robust growth and said it would integrate the business, RB Foods, into its consumer and...

  • TOKYO, July 18- Toshiba Corp shares jumped by nearly a fifth on Tuesday after a U.S. hedge fund said it had added a stake and the Japanese conglomerate avoided an immediate court injunction on a planned $18 billion sale of its chip business. U.S. hedge fund Greenlight Capital, run by David Einhorn, said on Friday the stock may be worth as much as 400 yen once the company...

  • TOKYO, July 18- Toshiba Corp shares jumped by nearly a fifth on Tuesday after a U.S. hedge fund said it had added a stake and the Japanese conglomerate avoided an immediate court injunction on a planned $18 billion sale of its chip business. U.S. hedge fund Greenlight Capital, run by David Einhorn, said on Friday the stock may be worth as much as 400 yen once the company...

  • July 14- Hedge fund Greenlight Capital said on Friday that it had added a stake in Toshiba Corp as it expects the stock to rise once the Japanese company resolves uncertainties around its bankrupt Westinghouse unit and the sale of its memory business. The Japanese conglomerate, whose stock closed at 231.6 yen per share on Friday, may be worth as much as 400 yen per...

  • *Concerns that Reliance Jio suffered data breach. *Jio has repeatedly denied a breach took place. MUMBAI, July 14- Fears Indian telecom upstart Reliance Jio suffered a major data breach, compromising the personal data of over 100 million customers, have prompted calls for India to adopt more robust laws to protect consumers.

  • Takashi Kawamura, an engineer-turned-business leader who previously headed Hitachi's transformation into a global conglomerate, is in charge of reviving TEPCO and leading the cleanup at the Fukushima Dai-Ichi plant. TEPCO needs to release the water— which contains radioactive tritium that is not removable but considered not harmful in small amounts—...

  • *Food business set to be more exposed to Russia. FRANKFURT, July 13- German retailer Metro completed its split into two companies on Thursday as its food business and consumer electronics division started trading independently on the Frankfurt and Luxembourg stock exchanges. Shares in the Metro food business traded at 19.47 euros by 0735 GMT, while those of the...

  • FRANKFURT, July 13- German retailer Metro completed its split into two companies on Thursday as its food business and consumer electronics division started trading independently on the Frankfurt and Luxembourg stock exchanges. Shares in the Metro food business traded at 19.70 euros by 0709 GMT, while those of the consumer electronics business, to be renamed...

  • *Ceconomy CEO says wants to drive consolidation. DUESSELDORF, July 12- A German court gave retailer Metro the green light on Wednesday to split its food business from its consumer electronics division, a move it hopes will allow the independent companies to pursue more acquisitions. "Ceconomy will drive the transformation and consolidation of consumer...

  • HONG KONG, July 12- China CITIC Bank International, the offshore banking arm of conglomerate CITIC Group, is selling $2.8 billion of its Asian loan portfolio including financing it extended to ChemChina, Fosun International and China Evergrande Group, Thomson Reuters Basis Point reported on Wednesday. Hong Kong based CITIC Bank International has put 51 Asia...

  • *Toshiba confirms it is in talks with other suitors. TOKYO, July 11- Toshiba Corp is in talks with Western Digital Corp and Taiwan's Foxconn, as well as with an already preferred bidder, as it seeks to revive a stalled $18 billion sale of its chip business, banking sources said on Tuesday. The Japanese conglomerate confirmed it was in talks with suitors, but did not name...