Capital Goods Industrial Conglomerates

  • Aug 5- Berkshire Hathaway Inc on Friday said second-quarter profit rose 25 percent, helped by improved results from insurance underwriting and investments and the purchase of Precision Castparts Corp, Warren Buffett's largest-ever acquisition. Net income for the Omaha, Nebraska- based conglomerate rose to $5 billion, or $3,042 per Class A share, from $4.01...

  • MADRID, Aug 5- A slump in Spanish builder OHL's stock price this week has turned the spotlight on its parent company, an indebted conglomerate built up by one of Spain's richest businessmen and which has secured loans against its affiliate's shares. OHL, one of few construction firms to have survived Spain's 2008 property market crash had, as of Friday afternoon,...

  • *Foreign firms in Turkey concerned by events. Erdogan accuses Gulen of harnessing an extensive network of schools, charities and businesses, built up in Turkey and abroad over decades, to infiltrate state institutions and build a "parallel structure" that aimed to take over the country. An Istanbul court on Thursday issued an arrest warrant for the cleric for...

  • *Foreign firms in Turkey concerned by events. Erdogan accuses Gulen of harnessing an extensive network of schools, charities and businesses, built up in Turkey and abroad over decades, to infiltrate state institutions and build a "parallel structure" that aimed to take over the country. An Istanbul court on Thursday issued an arrest warrant for the cleric for "...

  • *Foreign firms in Turkey concerned by events. ISTANBUL, Aug 4- Turkish President Tayyip Erdogan vowed on Thursday to choke off businesses linked to the U.S.-based cleric he blames for an attempted coup, describing his schools, firms and charities as "nests of terrorism" and promising no mercy in rooting them out. Erdogan accuses Gulen of harnessing an extensive...

  • *2016 EPS now seen at 6.50- 6.70 euros vs 6.00-6.40. FRANKFURT, Aug 4- German industrial group Siemens raised its full-year earnings forecast for the second time this year after large energy projects helped to take its third-quarter results above expectations and sent its shares to a 12- month high. Siemens expects annual earnings per share of 6.50 to 6.70 euros,...

  • SAO PAULO, Aug 2- Investors eyeing Brazil's auction to privatize state-owned utility Celg-D said its heavy debt and the high minimum price could jeopardize the Aug. 19 sale. Investors said this week that might be too much, even after regulatory changes by Brazil's interim President Michel Temer have improved the sector's outlook. Thais Prandini, a director at...

  • COPENHAGEN, Aug 2- Maersk Drilling will cut 122 jobs in the United States due to the early termination of a contract for deepwater rig Maersk Valiant, a spokeswoman told Reuters. Maersk Drilling, a unit of conglomerate A.P. The rig firm announced earlier in July it would cut up to 140 jobs in Norway due to lack of work for two other rigs.

  • COPENHAGEN, Aug 2- Maersk Drilling will cut 122 jobs in Norway due to the early termination of a contract for deepwater rig Maersk Valiant, a spokeswoman told Reuters. Maersk Drilling, a unit of conglomerate A.P. The rig firm announced earlier in July it would cut up to 140 jobs in Norway due to lack of work for two other rigs.

  • SAO PAULO, July 28- Brazil's state-run oil company Petroleo Brasileiro SA said in a statement on Thursday it is in exclusive talks for 60 days with Mexico's Alpek over the potential sale of PetroquimicaSuape and Citepe assets in Brazil's northeast. Mexico's Alpek is the petrochemicals unit of Mexican conglomerate Alfa. Petrobras, as Brazil's state oil...

  • July 28- Duracell said it plans to close a battery-making plant in South Carolina that employs 430 people, making the announcement fewer than five months after being acquired by Warren Buffett's Berkshire Hathaway Inc.. Duracell said the move will lead to "some" job growth in LaGrange, which is about 330 miles southwest of Lancaster, and that Lancaster workers...

  • *Profits at Japan telecoms business offset Sprint losses. TOKYO, July 28- Japan's SoftBank Group Corp on Thursday flagged a sharp recovery for struggling U.S. unit Sprint and was bullish about long-term prospects for soon-to-be-acquired UK chip designer ARM. The telecoms and internet conglomerate unveiled plans this month to purchase ARM for $32 billion in...

  • *Profits at Japan telecoms business offset Sprint losses. TOKYO, July 28- SoftBank Group Corp reported flat first-quarter operating profit as solid earnings for its domestic telecommunications business offset losses at U.S. unit Sprint Corp.. The Japanese telecoms and internet conglomerate, which this month said it would buy UK chip designer ARM for $32...

  • NEW DELHI, July 27- India's largest telecom network operator, Bharti Airtel Ltd, reported a 30.8 percent fall in first-quarter net profit on Wednesday, blaming an adverse foreign exchange impact in Nigeria, although it beat analysts' estimates. Consolidated net profit fell to 14.62 billion rupees in the quarter ended June 30, from 21.13 billion rupees last year,...

  • Donna Karan

    LVMH is selling Donna Karan International, the parent of New York label DKNY, to U.S. clothing firm G-III Apparel Group.

  • PARIS, July 25- French luxury group LVMH is selling Donna Karan International, the parent of New York label DKNY, to U.S. clothing firm G-III Apparel Group in a deal valuing the loss-making fashion brand at $650 million. Analysts estimate DKNY's annual sales at $450 million to $500 million, meaning G-III would be paying 1-1.5 times annual revenue, less than the 1.9...

  • SINGAPORE, July 22- China's conglomerate CITIC Ltd expects its net profit to roughly halve in the first half of the year due to lower property sales, a sluggish stock market and a depreciation of the yuan currency. In another sign of China's slowing economy, CITIC's net profit is expected to fall by about 40-50 percent in the six months ended June, it said in a filing...

  • MONTERREY, July 19- Mexican conglomerate Alfa on Tuesday cut its 2016 sales forecast by 0.5 percent to $16.170 billion while raising its outlook for earnings before interest, taxes, depreciation and amortization this year by more than 1 percent to $2.371 billion. Alfa filed the update in a statement with the Mexican stock exchange. On Monday, Alfa posted a sharp...

  • RIYADH, July 19- Saudi Binladin Group, the kingdom's biggest construction conglomerate, appears to have pulled back from the brink of a financial crisis that risked damaging the wider economy. It was then barred from receiving new state contracts altogether after one of its cranes toppled into Mecca's Grand Mosque during a storm, killing 107 people.

  • MONTERREY, Mexico, July 18- Mexican conglomerate Alfa posted a 70.9 percent drop in profits in the second quarter, dragged down by a depreciation in the peso currency, the company said on Monday. Net profit at Monterrey- based Alfa was 817.3 million pesos, sharply down from 2.81 billion pesos in the same quarter of last year, the company said in a statement.