Capital Goods Industrial Conglomerates

  • NEW YORK, Sept 14- Another shareholder of Zurich- based conglomerate ABB has called for the company to spin off its Power Grids division, in an effort to streamline the company to improve its stock price. Cevian Capital, a European-based activist investor, also wants the spin-off and has boosted its stake to 6.2 percent to push for the separation.

  • SEOUL, Sept 13- The South Korean government, long a bastion of support for the country's big conglomerates, is sticking to its hard-line stance on Hanjin Shipping Co Ltd, whose collapse is roiling global supply chains. In recent months, Korea Development Bank discussed arranging a merger between Hyundai Merchant Marine, itself under creditor-led debt...

  • *Jay Y. Lee nominated as Samsung Elec board director. *Board seat further cements Lee's role as Samsung Group leader. SEOUL, Sept 12- The Samsung Group's de facto leader and heir apparent is poised to join the board of crown jewel Samsung Electronics Co Ltd, a step towards formalising his role as head of the conglomerate as it reels from a massive smartphone recall.

  • SEOUL, Sept 12- Samsung Electronics Co Ltd said on Monday its board of directors has nominated Vice Chairman Jay Y. Lee as an inside director, signaling the group's de facto head would officially cement his role as leader of South Korea's top conglomerate. Samsung, in a statement, said Lee demonstrated leadership abilities in helping earnings recover, and that the...

  • Sept 9- Seagate Technology Plc has invited ValueAct Capital in as an investor, selling a roughly 4 percent stake to the activist hedge fund, which will also get a front-row view of its board meetings, the hard-drive maker said on Friday. "Seagate approached ValueAct to execute this transaction and become an investor in our company, given their commitment to and...

  • *Samsung Group has been divesting from non-core businesses. Samsung Electronics and the broader Samsung Group have been divesting from or exiting non-core businesses as part of a broader restructuring process for South Korea's top family-run conglomerate under the stewardship of de facto leader Jay Y. Lee. Samsung Electronics in 2014 decided to end its LED...

  • *Turkey seizing firms it links to U.S.-based cleric. ANKARA/ ISTANBUL, Sept 6- Turkey's deputy prime minister said on Tuesday that companies linked to a group blamed for a failed coup posed a risk of up to 5 billion lira to Turkish banks but that the state seizure of such firms had minimized the risks. Turkey has appointed administrators to a series of companies...

  • SEOUL, Sept 5- South Korean prosecutors summoned Lotte Group founder Shin Kyuk-ho for questioning on Wednesday as part of a sweeping criminal probe against the confectionery-to-chemicals conglomerate, Yonhap news agency reported. Prosecutors have told Shin, 93, to appear for questioning at 10 a.m. on Wednesday, Yonhap said. Lotte Group and prosecutors could...

  • HONG KONG, Sept 2- Chinese state conglomerate CITIC Group and U.S. private equity firm Carlyle Group are teaming up to bid for McDonald's outlets in China and Hong Kong in a deal worth between $2 billion and $3 billion, four people familiar with the matter said. Reuters previously reported that the Illinois- based fast-food giant, which has been hit by a series of...

  • JOHANNESBURG, Aug 31- South Africa's Steinhoff warned on Wednesday the slump in the pound after Britain's vote to leave the European Union would hurt its UK business as the furniture conglomerate fell a touch short of estimates with a one-third rise in annual sales. But Britain's shock vote to leave the EU in June has created uncertainty for Steinhoff, which...

  • LONDON, Aug 31- European equities set a new two-week high on Wednesday, with gains for shares including Germany's Commerzbank and French construction-to-media conglomerate Bouygues offsetting losses in the mining sector. Financials were in demand, with Commerzbank rising 4.5 percent after Germany's Manager Magazin reported that Deutsche Bank had...

  • Aug 30- General Electric Co on Tuesday named Richard Laxer chief executive of GE Capital, which the conglomerate began shrinking in 2015 as part of efforts to return to its industrial roots. Since April 2015, Sherin has led the transformation of GE Capital into a smaller, more focused business, GE Chief Executive Jeff Immelt said. GE also said GE Capital will now...

  • SEOUL, Aug 29- Loyalty has been a driving force in the success of South Korea's family-run "chaebol" conglomerates, but it can also shield the failings of its corporate culture and on Friday was linked to tragedy at the Lotte Group, the subject of a sweeping criminal probe. A prosecution spokesman could not immediately be reached for comment on Monday, and Lotte...

  • Workers operate machinery on the assembly line at a Lyric Robert factory, operated by Guangdong Li Yuanheng Intelligent Automation Co., in Huizhou, Guangdong province, China, on Monday, April 18, 2016.

    Profits earned by China's industrial firms grew at the fastest pace in four months in July, aided by a pick-up in sales and reduced costs.

  • *Lotte Group Vice Chairman Lee In-won has died. SEOUL, Aug 26- One of the top executives at South Korea's Lotte Group was found dead on Friday, a suspected suicide, hours before he was to be questioned by prosecutors conducting a criminal probe into the country's fifth-largest conglomerate. Lotte Group confirmed the death of Vice Chairman Lee In-won, which comes...

  • One of the top executives at South Korea's Lotte Group was found dead, a suspected suicide, hours before he was to be questioned by prosecutors.

  • *Lotte Group Vice Chairman Lee In-won has died. SEOUL, Aug 26- One of the top executives at South Korea's Lotte Group was found dead on Friday, a suspected suicide, hours before he was to be questioned by prosecutors conducting a criminal probe into the country's fifth-largest conglomerate. Lotte Group confirmed the death of Vice Chairman Lee In-won, which comes...

  • *Lotte Group Vice Chairman Lee In-won has died- Lotte Group. SEOUL, Aug 26- One of the seniormost executives at South Korea's Lotte Group was found dead on Friday, a suspected suicide, hours before he was to be questioned by prosecutors conducting a criminal probe into the family-run conglomerate. Lotte Group, in a text message to reporters, said it confirmed the...

  • *Lotte Group Vice Chairman Lee In-won has died- Lotte Group. SEOUL, Aug 26- A senior executive at South Korea's Lotte Group was found dead on Friday, a suspected suicide, hours before he was to be questioned by prosecutors conducting a criminal probe into the family-run conglomerate, news reports said. Lotte Group, in a text message to reporters, said it confirmed the...

  • *Lotte Group Vice Chairman Lee In-won has died- Lotte Group. SEOUL, Aug 26- A senior executive of South Korea's Lotte Group has died, the country's fifth-largest family-run conglomerate said on Friday, amid a sweeping criminal probe into the business. Lotte Group, in a text message to reporters, said it confirmed the death of Vice Chairman Lee In-won through police...