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Capital Goods Industrial Conglomerates

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  • *Fosun total debt at $16.7 bln, not far off its market value. HONG KONG, May 29- A $1.2 billion share sale by Fosun International Ltd this month was likely only the start of a love affair with equity deals, bankers say, as the Chinese conglomerate seeks to cut reliance on debt to fund its huge acquisition ambitions. Led by tycoon Guo Guangchang who models himself on...

  • LONDON, May 28- General Electric Co has picked Deutsche Bank to sell Italian lender GE Capital Interbanca as part of a strategic review to refocus the U.S. conglomerate around its industrial base, two sources familiar with the matter said. Deutsche Bank could conduct a piecemeal sale and offload Interbanca's units such as lending, factoring, leasing and fleet as...

  • May 20- U.S. healthcare conglomerate Johnson& Johnson said on Wednesday it expects to submit more than 10 new medicines with annual revenue potential of at least $1 billion each to regulators by 2019, and is testing dozens of new uses for existing medicines. J&J said it would file for approval of daratumumab for the blood cancer multiple myeloma in the United...

  • NEW YORK, May 20- U.S. healthcare conglomerate Johnson& Johnson said on Wednesday it expects to submit more than 10 new medicines with annual revenue potential of at least $1 billion each to regulators by 2019, and is testing dozens of new uses for existing medicines. J&J said it would file for approval of the experimental drug daratumumab for the blood cancer...

  • SEOUL/ SINGAPORE, May 20- Samsung's heir-apparent Jay Y. Lee faces a delicate balancing act: carefully pacing preparations for change- of style more than strategy- at South Korea's biggest conglomerate, while preserving his ailing father's legacy from more than a quarter of a century in charge. Samsung Group a sprawling corporation of dozens of affiliates...

  • WASHINGTON, May 19- General Electric Co would lose a $350- million deal to build locomotives for Angola, and perhaps billions of dollars more in future export opportunities, if Congress closes the U.S. Export-Import Bank, a senior GE executive told Reuters. GE, along with other major U.S. exporters including Boeing Co and business groups like the U.S. Chamber of...

  • RPT-Milking it: Israel leads the way in dairy tech Tuesday, 19 May 2015 | 8:39 AM ET

    *Israel applies hi-tech methods to increase dairy yields. *China, India, other Asian countries, look to Israeli expertise. TEL AVIV, May 19- Decades ago Israeli dairy farmers confronted a quandary- how could they provide milk to a fast-growing population in a country that is two-thirds desert, with little grazing land?

  • ISTANBUL, May 18- Turkish automaker Tofas halted production at its main factory on Monday, as a protest against working conditions intensified and threatened to embarrass President Tayyip Erdogan and the ruling AK Party weeks before a parliamentary election. Tofas, owned by Italy's Fiat and local conglomerate Koc Holding, said it had halted production until...

  • ISTANBUL, May 18- Turkish automaker Tofas halted production at its main factory on Monday, as a protest against working conditions intensified and threatened to embarrass President Tayyip Erdogan and the ruling AK Party weeks before a parliamentary election. On Friday it spread to the neighbouring Tofas plant. Tofas, owned by Italy's Fiat and local...

  • SEOUL, May 15- Samsung Group heir apparent Jay Y. Lee will take over from his father Lee Kun- hee as head of two key foundations, the conglomerate said on Friday, suggesting that a transfer of leadership is underway at South Korea's largest conglomerate. Jay Y. Lee, 46, will succeed his 73- year-old father, who has been hospitalized since suffering a heart attack more...

  • SEOUL, May 15- Samsung Group heir apparent Jay Y. Lee will take over from his father Lee Kun- hee as head of two key foundations, the conglomerate said on Friday, suggesting that a transfer of leadership is underway at South Korea's largest conglomerate. A Samsung Group spokeswoman said Jay Y. Lee would succeed his father as chairman of Samsung Life Public Welfare...

  • Toshiba says to mark down reported profit for 3 years Wednesday, 13 May 2015 | 9:28 PM ET

    Toshiba is likely to mark down three fiscal years of profit by at least $419.43 million in total after an internal probe into accounting irregularities.

  • WILMINGTON, Del., May 13- DuPont said on Wednesday its shareholders voted to support all 12 board members backed by the U.S. chemical conglomerate, rejecting a challenge from activist investor Nelson Peltz's Trian Fund Management. DuPont shares fell nearly 6 percent to $70.50 in early trading. "We look forward to continuing to execute our strategic plan to make...

  • *AOL shares jump 19 pct; Verizon down 0.5 pct. May 12- Verizon Communications Inc said on Tuesday it will buy AOL Inc for $4.4 billion, turning the biggest U.S. wireless carrier into a leading provider of content and video for the web and mobile phones. AOL and its properties, including the Huffington Post, TechCrunch and Engadget websites, would become a Verizon...

  • TOKYO, May 12- U.S. private equity firm Cerberus Capital Management LP is effectively pulling back from Japan after failing to win control of railway firm Seibu Holdings and due to a lack of investment targets, sources with direct knowledge of the matter said. Having turned the businesses around and sold them for a profit in initial public offerings, most have...

  • GE mulls concessions to win approval of Alstom deal Tuesday, 12 May 2015 | 3:24 AM ET
    GE General Electric

    General Electric said it would be willing to consider concessions in order to win European approval to acquire the power equipment unit of Alstom.

  • NEW YORK/ BRUSSELS, May 11- General Electric Co said on Monday for the first time it would be willing to consider concessions in order to win European approval to acquire the power equipment unit of France's Alstom. "We are willing to explore remedies to get this deal done even though again we believe in the merits of the deal," Steve Bolze, president and CEO of GE Power&...

  • LAS VEGAS, May 6- Hedge fund mogul Daniel Loeb on Wednesday took aim at the " Oracle of Omaha," calling beloved billionaire Warren Buffett a hypocrite. He criticizes activists but he was the first activist, "Loeb, who runs $17.5 billion hedge fund Third Point, said about Buffett who has been running conglomerate Berkshire Hathaway for 50 years. Loeb, known in investment...

  • May 5- Mexican conglomerate Alfa Sab de CV and Harbor Energy Ltd have agreed to acquire Canadian oil and gas company Pacific Rubiales Energy Corp for C $6 billion, including debt, a person familiar with the matter said on Tuesday. Toronto- listed Pacific Rubiales, whose shares also trade in Colombia, suspended trade in its Bogota shares on Tuesday afternoon after...

  • May 5- Mexican conglomerate Alfa Sab de CV and Harbour Energy Ltd have agreed to acquire Canadian oil and gas company Pacific Rubiales Energy Corp for C $6 billion, including debt, a person familiar with the matter said on Tuesday. Toronto- listed Pacific Rubiales, whose shares also trade in Colombia, suspended trade in its Bogota shares on Tuesday afternoon after...