Capital Goods Industrial Conglomerates

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  • *Hotel Lotte, planning IPO, among those raided. SEOUL, June 10- South Korean prosecutors raided the offices of Lotte Group, the country's fifth-largest conglomerate, and several affiliates on Friday, dealing a further blow to its hotel unit's planned IPO, billed as the world's biggest this year. Hotel Lotte, Lotte Department Store and Lotte Home Shopping confirmed...

  • *Hotel Lotte, planning IPO, among those raided. SEOUL, June 10- Seoul prosecution investigators raided Lotte Group and several affiliates of South Korea's fifth-largest conglomerate on Friday, casting further shadows over an IPO for its hotel unit billed as the world's biggest this year. About 200 Seoul prosecution investigators were searching 17 locations...

  • SEOUL, June 10- Seoul prosecution investigators raided Lotte Group headquarters on Friday morning, a group spokesman told Reuters, in what local media reported as a widening investigation into South Korea's fifth-largest conglomerate. About 200 Seoul prosecution investigators were searching 17 locations including group headquarters, 7 affiliate...

  • NEW YORK, June 7- Warren Buffett, the world's third-richest person, on Tuesday offered strong praise for Jeff Bezos, the fourth-richest, saying he embodies the potential that can blossom when small business owners build their companies. The panel also included Goldman Sachs Group Inc Chief Executive Lloyd Blankfein, Twitter Inc Chief Executive Jack Dorsey, and...

  • SAO PAULO, June 7- Shanghai Pengxin Group Co is in talks to buy control of Brazilian mid-sized lender Banco Indusval& Partners SA, as the Chinese conglomerate aims to expand beyond commodities in Latin America's largest economy, three sources with direct knowledge of the matter said. Pengxin's search for financial, logistics and commodities firms in Brazil is...

  • SAO PAULO, June 7- Shanghai Pengxin Group Co is in talks to buy control of Brazilian mid-sized lender Banco Indusval& Partners SA, as the Chinese conglomerate wants to expand beyond commodities in Latin America's largest economy, three sources with direct knowledge of the matter said. Pengxin's search for financial, logistics and commodities firms in Brazil is...

  • BRASILIA/ RIO DE JANEIRO, June 2- Brazilian judge Sergio Moro suspended one of several lawsuits against executives of engineering conglomerate Grupo Odebrecht SA for 30 days, signaling potential plea bargain deals with prosecutors investigating a massive graft scheme. The company said in March that some executives would seek plea bargains with...

  • BRASILIA, June 2- Brazilian judge Sergio Moro has suspended one of the lawsuits against executives of engineering conglomerate Odebrecht SA for 30 days, newspaper Folha de S. Paulo reported on Thursday, signaling potential plea bargain deals with prosecutors investigating a massive graft scheme. Odebrecht is the largest of Brazil's major engineering firms...

  • June 1- Chinese food and industrial conglomerate Xiwang Group Company Ltd is in advanced talks to buy Iovate Health Sciences International Inc, the Canadian owner of nutrition supplement MuscleTech, according to people familiar with the matter. Canadian vitamin maker Jamieson Laboratories, owned by private equity firm CCMP Capital Advisors LP, has also...

  • LOS ANGELES, May 31- Shari Redstone, vice chair of Viacom Inc and the daughter of controlling shareholder Sumner Redstone, said on Tuesday she has no desire to manage the media conglomerate or to chair its board. The statement from Shari Redstone was a response to a letter on Monday in which Viacom's six independent directors vowed to fight any attempt to oust them...

  • MILAN, May 30- Italian defense company Leonardo Finmeccanica has threatened to reassess its business in India, a few days after New Delhi said it would blacklist the company over the alleged payment of bribes to win a large helicopter contract. Former executives of the state-controlled conglomerate were found guilty last month after being tried in Italy on...

  • SEOUL, May 30- South Korea's Samsung Bioepis said on Monday its biosimilar of Johnson& Johnson's blockbuster rheumatoid arthritis drug Remicade has received final approval from European regulators, paving the way for its second product launch in Europe. Samsung Bioepis, an unlisted arm of South Korea's top conglomerate Samsung Group, also submitted the...

  • NEW DELHI/ MUMBAI, May 30- Anil Ambani's Reliance Group has never made a military helicopter, missile system or submarine in its history but that isn't stopping the Indian tycoon from seeking to win contracts to manufacture all of that military hardware and more. Modi has made defense a big part of his "Make in India" programme. As part of any defence contract, he is...

  • SINGAPORE/ LONDON, May 25- London's Baltic Exchange has entered into exclusive talks with Singapore Exchange over a possible sale, months after approaches from several suitors to acquire the centuries-old business, sources familiar with the matter said on Wednesday. The London Metal Exchange, CME Group, ICE, state-run conglomerate China Merchants Group and...

  • NEW YORK, May 24- Sumner Redstone, chairman emeritus of Viacom Inc said on Tuesday he has appointed two new trustees to a trust that will determine the direction of the media conglomerate and CBS in the event of his incapacitation or death. The two trustees are executive vice president and general counsel of National Amusements Inc, Redstone's privately held...

  • NEW YORK, May 24- Sumner Redstone, chairman emeritus of Viacom Inc said on Tuesday he has appointed two new trustees to a trust that will determine the direction of the media conglomerate and CBS.

  • SAO PAULO, May 23- Italian industrial conglomerate Techint Group on Monday bought 193.5 million reais worth of shares in Usinas Siderúrgicas de Minas Gerais, as part of a capital plan aimed at shoring up the Brazilian steelmaker. Techint, through several units, including steelmaker Ternium SA, bought 38.7 million shares in Usiminas, as the company is known, to...

  • May 23- Viacom Inc Chief Executive Philippe Dauman on Monday sued media mogul Sumner Redstone's daughter in a battle to keep his position on a trust that will determine the direction of the media conglomerate and CBS. Dauman's lawsuit is the latest turn in the struggle for control between the CEO and Shari Redstone, who is vice chair of both Viacom and CBS and...

  • BRASILIA, May 20- Brazil's federal police on Friday said they widened a probe of construction conglomerate Odebrecht SA to investigate possible money laundering and influence peddling in contracts awarded for projects in Angola. At least one relative to former president Luiz Inacio Lula da Silva was targeted by the operation that included four search and...

  • *Port business may get boost as more goods pour into Myanmar. On Tuesday, Washington eased some restrictions on Myanmar but also strengthened measures against Law by adding six firms connected to him and his conglomerate, Asia World, to the Treasury blacklist. Yet the blacklisting, which attracted considerable attention in Myanmar, looks like a formality given...