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Capital Goods Industrial Conglomerates

  • 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.

  • *Port operations from Mumbai to Los Angeles disrupted. COPENHAGEN, June 28- Denmark's A.P. The cyber extortion campaign, which has disrupted businesses around the world, has also caused congestion at some of the 76 port terminals run by Maersk's APM Terminals unit, including in the United States, India, Spain and the Netherlands.

  • CHIBA, Japan, June 28- Japan's Toshiba Corp faced shareholders at its annual meeting on Wednesday with no deal in hand for the sale of its prized flash memory chip unit and a long list of humiliating setbacks to apologize for. But the conglomerate said in a statement on Wednesday that talks with some members of the preferred bidder consortium- which is led by...

  • *Court orders asset freeze due to $2.9 bln Rosneft lawsuit. *Court to resume hearing on July 12. MOSCOW, June 27- A Russian court said on Tuesday it had frozen more than $3 billion of Sistema's assets as it began hearing oil producer Rosneft's lawsuit against the business conglomerate.

  • NEW YORK, June 27- Riskified, an e-commerce fraud prevention startup, has raised $33 million in new funding from investors including Capital One Financial Corp and Groupe Arnault, which controls French luxury goods conglomerate LVMH, it said on Tuesday. The funding was led by Israeli venture capital firm Pitango Growth and also included Qumra Capital, C4...

  • *Resubmitted bid will invite Japan govt investors- sources. TOKYO, June 27- Western Digital Corp and U.S. private equity firm KKR& Co LP have resubmitted an offer for Toshiba Corp's flash memory chip unit, in an eleventh hour effort to prevent the conglomerate signing a deal with its preferred bidder. The resubmission adds to uncertainty about whether Toshiba will...

  • MOSCOW, June 26- Russian conglomerate Sistema said on Monday a Russian court had "arrested" some shares it owns, including in the country's biggest mobile operator MTS, in a legal dispute with oil company Rosneft. Sistema is one of the largest private holdings in Russia and is controlled by businessman Vladimir Yevtushenkov. MTS, with the market value of $8 billion...

  • AMSTERDAM/ LONDON, June 26- When billionaire activist investor Daniel Loeb wanted to give his arguments against Nestle's performance greater credibility and heft, he turned to one of Europe's most experienced turnaround experts, Dutchman Jan Bennink. Loeb's fund, Third Point LLC, disclosed a $3.5 billion stake in the Swiss food group in a letter to its...

  • MOSCOW, June 26- Russian conglomerate Sistema said on Monday a Russian court had "arrested" shares it owns, including in the country's biggest mobile operator MTS, in a legal dispute with oil company Rosneft. Rosneft is suing Sistema for 170.6 billion roubles in damages over the purchase of oil producer Bashneft. But on Monday, Sistema said it had received notice of...

  • LONDON/ FRANKFURT, June 26- The field of prospective bidders for Japanese conglomerate Toshiba Corp.' s Swiss-based smart meter group Landis+ Gyr has narrowed to two, three banking sources said on Monday. A consortium of buyout firm CVC Capital Partners and Japanese conglomerate Hitachi Ltd had withdrawn its offer, as had Honeywell International Inc, the...

  • TEL AVIV, June 26- Israeli energy conglomerate Delek said its planned sale of a controlling stake in Israeli insurer Phoenix Holdings to China's Fujian Yango Group has been called off by both sides after it failed to secure regulatory approval. "Due to the prolonged process of obtaining the approval for the sale of control in Phoenix to Yango Group, the two sides...

  • *Group's debt rises to over $7 billion. *COFCO gaining ground in South America. LONDON/ BEIJING/ BUENOS AIRES, June 26- As the world trade in farm commodities faces a shake-up, one the groups widely expected to play a leading role- China's COFCO- will probably have sit out the industry consolidation after all.

  • MOSCOW, June 24- Russian oil major Rosneft will continue court proceedings against Russian business conglomerate Sistema, Rosneft said on Saturday. Rosneft is suing Sistema for 170.6 billion roubles in damages over the purchase of oil producer Bashneft. Sistema proposed an out-of-court settlement with Rosneft last week.

  • The European Medicines Agency said on Friday its experts had backed the latest copy of the drug from South Korea's Samsung Bioepis, which specialises in making cheaper copies of complex biotech drugs known as biosimilars. Samsung Bioepis, an unlisted unit of South Korean conglomerate Samsung Group, already sells biosimilar copies of two other rheumatoid...

  • TOKYO, June 23- Toshiba Corp said it was open to talks with Western Digital Corp in their dispute over the sale of the Japanese conglomerate's prized chip unit- an apparent olive branch after it chose another suitor as preferred bidder. The softer tone from Toshiba comes on a day of further indignities as the crisis-wracked conglomerate saw itself demoted to the...

  • MOSCOW, June 22- Russian business conglomerate Sistema has proposed an out-of-court settlement with oil major Rosneft, a company spokesman said on Thursday. Rosneft is suing Sistema for 170.6 billion roubles in damages over the purchase of oil producer Bashneft. "Sistema is proposing a mechanism to resolve the dispute, which will allow the results of the...