Capital Goods Industrial Conglomerates

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  • MEXICO CITY, Oct 20- Mexican mining and railroad company Grupo Mexico expects to invest $1 billion in new oil projects over five years from a mix of contracts and joint ventures with national oil firm Pemex, a top executive said on Tuesday. One of Mexico's biggest conglomerates and controlled by reclusive billionaire German Larrea, Grupo Mexico is divided into...

  • Oct 16- General Electric Co reported a better-than-expected quarterly profit on Friday, as its businesses producing jet engines and power turbines offset declines in its oil and gas segment. GE shares, up about 10 percent since activist investor Nelson Peltz unveiled a $2.5 billion stake in the company earlier this month, were little changed at $28 in...

  • Oct 16- Japanese beverage conglomerate Suntory Holdings could unwind its loss-making joint venture with China's Tsingtao Brewery Co Ltd as sales have stalled amid stiff competition in the Chinese market, people familiar with the matter said on Friday. Scrapping the joint venture would highlight the difficulties Japanese brewers face in expanding in the...

  • Oct 13- General Electric Co said it will sell its commercial lending and leasing businesses worth more than $30 billion to Wells Fargo& Co as the industrial conglomerate shifts its focus back on the manufacturing businesses. The sale is part of a plan announced in April to sell off some $200 billion in GE Capital financing assets, setting off a series of...

  • *Charles Kau, chairman of Inotera Memories, joins Tsinghua. BEIJING/ TAIPEI, Oct 13- Chinese state-backed technology conglomerate Tsinghua Unigroup has hired Charles Kau, the chief of Micron Technology Inc's Taiwanese joint venture, as its global executive vice president, a person familiar with the matter said. Kau is the chairman of Inotera Memories Inc, a joint...

  • SHANGHAI, Oct 9- A unit of conglomerate China Resources Corp plans to sell minority stakes it holds in 21 Wal-Mart Stores Inc outlets around China, a spokesman for the U.S. retailer told Reuters on Friday. Wal-Mart, France's Carrefour SA and Britain's Tesco PLC have all seen sales growth slip over the last five years in China, losing market share to local rivals,...

  • GE combines technologies into energy efficiency company Wednesday, 7 Oct 2015 | 10:39 AM ET

    Oct 7- General Electric Co said on Wednesday it had started a company to focus on energy efficiency to help corporate and other customers lower their energy bills and better manage power distribution. The company, which will be run by Maryrose Sylvester, who has been president of GE Lighting, will begin with $1 billion in revenue, and is expected to grow to $5...

  • Oct 5- DuPont Chief Executive Ellen Kullman is stepping down this month and will replaced temporarily by board member and veteran U.S. executive Edward Breen, who oversaw the break-up of conglomerate Tyco International. Shares of DuPont, officially known as E.I. du Pont de Nemours& Co, rose 5.6 percent to $54.17 in extended trading. Kullman, 59, joined the company...

  • Oct 5- DuPont said on Monday Chief Executive Ellen Kullman is to retire this month and will be replaced temporarily by board member and veteran U.S. executive Edward Breen, who oversaw the break-up of conglomerate Tyco International. Shares of DuPont, officially known as E.I. du Pont de Nemours& Co, rose 4.9 percent to $53.79 in extended trading.

  • Oct 5- Activist investor Nelson Peltz's fund has bought a $2.5 billion stake in General Electric Co, adding fresh pressure on the U.S. conglomerate to shift away from finance operations toward its industrial roots. Shares of Dow industrials component GE rose 4 percent to $26.48 in morning trading on Monday after Peltz's Trian Fund Management disclosed its...

  • Oct 5- Nelson Peltz's Trian Fund Management said it bought $2.5 billion in shares of General Electric Co since May, making it one of the top 10 shareholders in the industrial conglomerate. "Trian believes GE has significant long-term potential and that its implied target value per share, including dividends, could be $40 to $45 by the end of 2017 based on our view...

  • Nelson Peltz, Founding Partner and Chief Executive Officer, Trian Fund Management, at the 5th annual CNBC Institutional Investor Delivering Alpha Conference on Wednesday, July 15, 2015 at the Pierre Hotel in New York.

    Trian, the $13B activist hedge fund run by Nelson Peltz, will unveil a roughly $2.5B investment in General Electric.

  • Oct 5- Nelson Peltz's Trian Fund Management has accumulated $2.5 billion in General Electric shares since May- a roughly 1 percent stake- making it one of the company's top 10 shareholders, the Wall Street Journal reported. GE shares closed at $25.47 on Friday on the New York Stock Exchange. The U.S. conglomerate said in April it would seek to sell some $200 billion...

  • MEXICO CITY, Oct 1- Mexican industrial conglomerate Alfa said on Thursday it would buy a majority stake in telecoms company Axtel in order to better rival Carlos Slim's America Movil, which dominates Mexico's fixed-line phone market. Axtel will remain traded on Mexico's stock exchange, the two firms said in a joint statement. The merger follows a sweeping...

  • MEXICO CITY, Oct 1- Mexican telecommunications firms Alestra, a unit of industrial conglomerate Alfa, and Axtel announced they would merge on Thursday to better rival Carlos Slim's America Movil, which dominates the fixed-line market. Alfa will own 51 percent of the new company once new shares are issued, while Axtel will remain traded on Mexico's stock...

  • *China's economy officially growing at 7 pct. SHANGHAI, Sept 30- China's economy is officially growing at a brisk clip of 7 percent, but many locally based executives at multinationals say they wouldn't know it from the performance of their businesses. By China's standards 7 percent is already the weakest annual growth in 25 years, but on the ground the slowdown in...

  • Multinational China execs feel chill wind, not hot growth Wednesday, 30 Sep 2015 | 1:21 AM ET

    *China's economy officially growing at 7 pct. SHANGHAI, Sept 30- China's economy is officially growing at a brisk clip of 7 percent, but many locally based executives at multinationals say they wouldn't know it from the performance of their businesses. By China's standards 7 percent is already the weakest annual growth in 25 years, but on the ground the slowdown in...

  • Sept 29- General Electric Co expects its software revenue to roughly triple to $15 billion by 2020 as it reaps significant gains from its digital operations, the U.S. industrial conglomerate said on Tuesday. The company released its projection at its annual Minds and Machines conference in San Francisco, which spotlights its digital technology capabilities.

  • MOSCOW, Sept 29- While others are scrabbling for cash and struggling to restructure large debts, farming conglomerate Rusagro is grappling with an unusual challenge in today's Russia- where else to invest money to capitalize on a weak rouble. Chief Executive Maksim Basov said he had been tasked with finding investment projects for 100 billion roubles for the...

  • WASHINGTON, Sept 28- General Electric Co said on Monday it will move production of large, gas-powered engines to Canada from Waukesha, Wisconsin, along with 350 jobs, to access export financing no longer available in the United States. In its latest salvo aimed at persuading Congress to renew the U.S. Export-Import Bank's charter which expired in June, GE will...