Capital Goods Industrial Conglomerates

  • *Case follows impeachment last month of President Park. SEOUL, Jan 21- South Korean prosecutors arrested the culture minister on Saturday, on suspicion of abuse of power for drawing up a blacklist of artists, writers and entertainers critical of the country's impeached president, Park Geun-hye. Cho, 50, had offered to quit, Yonhap news agency reported, adding that...

  • *Case follows impeachment last month of President Park. SEOUL, Jan 21- South Korean prosecutors arrested the culture minister on Saturday, on suspicion of abuse of power for drawing up a blacklist of artists, writers and entertainers critical of the country's impeached president, Park Geun-hye. Cho, 50, had offered to quit, Yonhap news agency reported, adding that...

  • SEOUL, Jan 21- South Korean prosecutors arrested the culture minister on Saturday for suspected involvement in drawing up a blacklist of artists, writers and entertainers critical of President Park Geun-hye amid a graft scandal that led to her impeachment. South Korea has been gripped by crisis for months, and Park could become the first democratically...

  • SEOUL, Jan 21- South Korean prosecutors arrested the culture minister on Saturday for suspected involvement in drawing up a blacklist of artists, writers and entertainers critical of President Park Geun-hye amid a graft scandal that led to her impeachment. Seoul Central District Court said on Saturday in a text message to reporters that minister Cho was...

  • SEOUL, Jan 21- South Korean prosecutors arrested the culture minister on Saturday for suspected involvement in drawing up a blacklist of artists, writers and entertainers critical of President Park Geun-hye amid a graft scandal that led to her impeachment. Seoul District Court said on Saturday in a text message to reporters that minister Cho was arrested...

  • SEOUL, Jan 21- South Korea's culture minister was arrested on Saturday, suspected of involvement in drawing up a blacklist of artists critical of President Park Geun-hye amid a graft scandal that led to the president's impeachment. Cho Yoon- sun is the first sitting minister ever to be arrested, the special prosecutor's team said. Seoul District Court said on...

  • NEW YORK, Jan 20- American International Group Inc has agreed to pay roughly $10.2 billion to Warren Buffett's Berkshire Hathaway Inc to take on many long-term risks on U.S. commercial insurance policies it has already written. Berkshire's National Indemnity Co unit, led by Buffett's reinsurance chief Ajit Jain, will take on 80 percent of net losses in excess of...

  • Jan 20- General Electric Co is seeking a sharp cut in corporate tax rates under President Donald Trump but is bracing for U.S. sales of medical equipment to suffer if Congress delays changing U.S. healthcare laws. "From a GE perspective, at a minimum, we need to have a corporate tax system where the rate of taxation is commensurate with the OECD average of 21 or 22...

  • LIMA, Jan 20- A consortium controlled by Brazilian builder Odebrecht S.A. will miss a financing deadline on Monday for a natural gas pipeline project in Peru and awaits government notification that it will lose the $5 billion contract, the company said on Friday. Odebrecht, a family-owned conglomerate at the center of a growing bribery scandal in Latin America,...

  • NEW YORK— The latest on developments in financial markets:. Traders were keeping a close eye on the inauguration of Donald Trump as U.S. president and on corporate earnings. Procter& Gamble rose after releasing a strong growth forecast, while General Electric fell after the conglomerate reported fourth-quarter revenue that fell short of analysts' estimates.

  • TOKYO, Jan 20- Japan's Toshiba Corp has begun preparations to sell a minority stake in its core chip business, people with knowledge of the matter said, as it urgently seeks funding to avoid being crippled by an upcoming multi-billion dollar writedown. The industrial conglomerate has distributed non-disclosure agreement forms to various funds including...

  • DAVOS, Switzerland— It's been impossible to escape the shadow of Donald Trump at this year's gathering of the business elites at the World Economic Forum in Davos, Switzerland. But inevitably all talk turned to Trump, who has promised to rewrite free trade deals and even slap tariffs on China, the world's second-largest economy. Roberto Azevedo,...

  • TOKYO, Jan 20- Japan's Toshiba Corp has begun preparations to sell a minority stake in its core chip business, people with knowledge of the matter said, as it urgently seeks funding to help avoid being crippled by an upcoming multi-billion dollar writedown. The industrial conglomerate has distributed non-disclosure agreement forms to various funds...

  • Last year, Chinese real estate conglomerate Dalian Wanda Group spent $3.5 billion to buy a controlling stake in U.S. film studio Legendary Entertainment, while Paramount worked with Alibaba Pictures Group Ltd in 2015 to promote "Mission: Impossible- Rogue Nation" in China. The studio could now use the latest partnership as an entry point into China, Paramount CEO...

  • TOKYO, Jan 20- Japan's minister for economy, trade and industry, Hiroshige Seko, said on Friday a rescue plan for embattled conglomerate Toshiba Corp was not under consideration at his ministry. Seko told reporters after a cabinet meeting that he would closely monitor the steps taken by Toshiba's management. Toshiba is under pressure to come up with cash as it...

  • WASHINGTON, Jan 19- When world powers agreed in 2015 to lift sanctions on Iran in return for curbs on its nuclear program, the deal's supporters in the United States, Europe and Tehran hoped renewed trade and investment could boost Iran's private sector and weaken the state's hold on the economy. But a Reuters review of business accords reached since then shows...

  • TOKYO, Jan 19- Toshiba Corp's financial crisis deepened on Thursday as media reported it may unveil a bigger-than-expected $6 billion writedown for its U.S. nuclear business, sending its shares sliding 16 percent. The 142- year old firm has also approached the government-backed Development Bank of Japan for help. Takeshi Kunibe, the president of Sumitomo...

  • SEOUL, South Korea— The family smartphones? It's difficult for people outside South Korea to fully grasp what Samsung, a truly global brand, means inside its home country, where it is far more than just another big company. Those diverse views only intensified Thursday when a court rejected prosecutors' request to arrest Samsung heir and Vice Chairman Lee...

  • TOKYO, Jan 19- Toshiba Corp's financial crisis deepened on Thursday as media reported it may unveil a bigger-than-expected $6 billion writedown for its U.S. nuclear business, sending its shares sliding 15 percent. The 142- year old firm has also approached the government-backed Development Bank of Japan for help. Takeshi Kunibe, the president of Sumitomo...

  • OSAKA, Jan 19- Panasonic Corp aims to extend its partnership with electric car maker Tesla Motors Inc beyond batteries and into self-driving technology, as the Japanese conglomerate continues to shift its focus to the automotive business. Panasonic is the exclusive supplier of batteries for Tesla's Model S, Model X and upcoming mass market Model 3, and plans...