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Capital Goods Industrial Conglomerates

  • CARSON CITY, Nev.— An electric car maker deserted its plan to construct a $1 billion manufacturing plant in southern Nevada in a move experts say could spell trouble for the company and the broader niche electric automobile businesses. The Gardena, California- based company said in a statement that it will now look for an existing facility to produce its electric...

  • BEIJING— Chinese conglomerate Wanda Group, owner of Hollywood's Legendary Entertainment, is selling most of its theme parks, retreating from a business it once said would rival Walt Disney Co.. Wanda says it will sell 13 parks and 76 hotels to a Chinese buyer, Sunac China Holdings Ltd., for 63.2 billion yuan but will continue to manage the properties.

  • HONG KONG, July 10- Exiled Chinese tycoon Guo Wengui is suspected of obtaining confidential client data of aviation-to-financial services conglomerate HNA from air traffic control and airline staff, the official Xinhua news agency reported, citing Chinese police. Chinese-born Guo, now based in New York, has unleashed a torrent of corruption allegations...

  • NEW DELHI, July 9- India is considering selling state-owned Air India in parts to make it attractive to potential buyers, as it reviews options to divest the loss-making flagship carrier, several government officials familiar with the situation said. Air India- founded in the 1930 s and known to generations of Indians for its Maharajah mascot- is saddled with a...

  • SHANGHAI, July 6- Chinese conglomerate Fosun saw shares in its listed units fall on Thursday, prompting it to refute online rumors that it had lost contact with its billionaire chairman, Guo Guangchang. The firm said in a statement Guo was in Shaanxi province giving a speech in the city of Xi'an and that online reports he had gone missing were "sheer rumor and...

  • SHANGHAI, July 6- Chinese conglomerate Fosun saw shares in its listed units fall on Thursday, prompting it to refute online rumours that it had lost contact with its billionaire chairman, Guo Guangchang. The firm said in a statement Guo was in Shaanxi province giving a speech in the city of Xi'an and that online reports he had gone missing were "sheer rumour and...

  • HONG KONG, July 6- Japan's SoftBank Group Corp is targetting raising between $3 billion and $5 billion through an offering of U.S. dollar bonds, according to a person familiar with the plans. The bond offering comes after the telecoms-to-investment conglomerate announced raising the world's largest private equity fund the nearly $100 billion Vision Fund...

  • A billionaire with links to China's Communist Party elite, Xiao vanished earlier this year. He was last seen in the early hours of Jan. 27, leaving the Four Seasons Hotel in Hong Kong in a wheelchair with his head covered, accompanied by several people described in media reports as mainland Chinese agents. The same two sources said Tomorrow had set up an internal...

  • ZURICH, July 4- Activist investor Keith Meister's Corvex hedge fund and New York's 40 North said on Tuesday they had taken a 7.2 percent stake in Clariant to fight the Swiss chemical maker's planned merger with Huntsman Corp. Meister, a Carl Icahn protege, with Corvex manages assets worth $6 billion and took a 5.5 percent stake in communications company Century...

  • ZURICH, July 4- Activist investor Keith Meister's Corvex hedge fund and New York's 40 North said on Tuesday they had taken a 7.2 percent stake in Clariant to fight the Swiss chemical maker's planned merger with Huntsman Corp. Meister, a Carl Icahn protege, with Corvex manages assets worth $6 billion and took a 5.5 percent stake in communications company Century...

  • ZURICH, July 4- Activist investor Corvex and roofing maker Standard Industries' investment arm have teamed up to take a 7.2 percent stake in Clariant in a bid to scuttle the Swiss chemical maker's proposed merger with Huntsman Corp.. Corvex, run by activist investor and Carl Icahn protege Keith Meister, manages assets worth $6 billion and took a 5.5 percent stake...

  • BUENOS AIRES, July 2- Argentina's Telecom Argentina SA and cable TV provider Cablevisión SA reached a merger agreement enabling them to offer so-called quadruple play services, a result of President Mauricio Macri's telecom sector reforms. Grupo Clarin, Argentina's largest media conglomerate, said last August it was spinning off Cablevision.

  • LONDON, June 30- Not very long ago, a 17 percent oil price fall would have sent emerging market stocks into a tailspin. But the BATs are just a small part of a whole "new economy" story in emerging markets, where the biggest companies by market capitalisation are now high-tech conglomerates Samsung, Tencent, Taiwan Semiconductor, Alibaba and South Africa's Naspers,.

  • June 30- Warren Buffett's company will become the biggest shareholder in Bank of America Corp, after Berkshire Hathaway Inc on Friday invoked its right to acquire 700 million shares of the second-largest U.S. bank. Berkshire will take a roughly 7 percent ownership stake, worth about $17 billion based on Bank of America's closing price of $24.32 on Thursday.

  • * "Will not interfere in Vanke's operation"- Shenzhen Metro. *Yu Liang to replace Wang Shi as chairman. The subway operator's control over China's second largest property developer was affirmed this month after it raised its stake to 29.38 percent, ending a bitter struggle for boardroom control by surpassing financial conglomerate Baoneng Group that had sought...

  • June 30- Warren Buffett's Berkshire Hathaway Inc said it would exercise its warrants to buy 700 million common shares of Bank of America Corp, making it the largest shareholder of the lender. The conglomerate said it expected to use $5 billion of Bank of America's 6 percent preferred stock that it currently owns to fund the acquisition. Buffett had bought $5...

  • * "Will not interfere in Vanke's operation"- Shenzhen Metro. The subway operator's control over China's second largest property developer was affirmed this month after it raised its stake to 29.38 percent, ending a bitter struggle for boardroom control by surpassing financial conglomerate Baoneng Group that had sought to oust Vanke's management.

  • *Coolpad needs more time to provide information to auditors. HONG KONG, June 30- Chinese smartphone maker Coolpad, part of the cash-strapped LeEco technology conglomerate, on Friday said it would further delay the publication of its 2016 financial results due to outstanding audit issues. The company needs more time to provide information requested by...

  • SPARTANBURG/ CHARLESTON, South Carolina, June 30- Y ears before Donald Trump began promising to bring back good manufacturing jobs by getting tough with U.S. trade partners, such jobs have already been on the rise, largely thanks to foreign companies now cast as villains in Trump's narrative. The U.S. president has threatened to tear up North American Free Trade...

  • SEOUL, June 29- South Korean energy conglomerate SK Group signed a memorandum of understanding with General Electric on Thursday to jointly develop U.S. shale gas fields in a bid to expand in the U.S. shale gas sector. The partnership with GE will help SK Group bring in U.S. liquefied natural gas to South Korea as well as onsell it to other countries amid growing U.S.