Capital Goods Industrial Conglomerates

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  • TOKYO, April 7- The veteran boss of retail group Seven& i Holdings Co Ltd, who pioneered 24- hour convenience stores in Japan four decades ago, said on Thursday that he is stepping down to take responsibility for a failed management reshuffle. The patriarch's sudden departure without a named successor creates a power vacuum at the sprawling conglomerate, with its...

  • ISTANBUL, April 5- Turkey's Sabanci Holding plans to sell a minority stake in the electricity distribution and energy retail businesses of its Enerjisa subsidiary to cut debt ahead of Enerjisa's initial public offering, a senior executive said on Tuesday. Sabanci, one of Turkey's largest conglomerates, expects to float Enerjisa as early as the end of next year,...

  • DUBAI, April 5- Al Jaber Group missed a March repayment on its $4.5 billion restructuring, three sources aware of the matter told Reuters on Tuesday, adding pressure on the Abu Dhabi- based conglomerate to quickly secure a new debt deal to save it from collapse. A spokesman for Al Jaber declined to comment. Al Jaber began speaking to creditors last year about...

  • PARIS, April 1- Construction-to-media conglomerate Bouygues said on Friday its board had been unanimous in deciding to end talks with state-controlled rival Orange over the takeover of its telecoms unit.

  • BRASILIA/ SAO PAULO, March 31- Brazilian prosecutors on Thursday charged Joseph Safra, the world's richest banker, in connection with an alleged scheme to pay bribes to government officials in return for waiving tax debts. Safra, who alongside his family owns Banco Safra SA and a number of private-banking institutions including Switzerland's J Safra Sarasin,...

  • March 31- A price war has broken out among more than 260 companies that will be allowed to sell electricity in Japan's $70 billion retail market from next month, challenging its old monopolies. From April 1, Japanese consumers will be able to buy electricity from suppliers like telecoms conglomerate Softbank, travel agency H.I.S. and trading firm Marubeni,...

  • March 30- State Street Corp said it would buy General Electric Co's asset management business for up to $485 million as the industrial conglomerate winds down its financing arm to reduce regulatory burden. GE has been disposing assets off GE Capital, a $200 billion financing business, as it seeks to return to its industrial roots. State Street had $28 trillion in...

  • NEW DELHI, March 29- India's Supreme Court has asked the markets regulator to start the process of selling some of embattled conglomerate Sahara's real estate assets in the country to refund millions of investors in its illegal bonds, lawyers said on Tuesday. Sahara, a household name in India as the former main sponsor of the national cricket team, has hotels...

  • NEW DELHI, March 29- India's Supreme Court has asked the markets regulator to start the process of selling some of embattled conglomerate Sahara's real estate assets in the country to refund millions of investors in its illegal bonds, lawyers said on Tuesday. Sahara, a household name in India as the former main sponsor of the national cricket team, has major...

  • March 28- A U.S. appeals court withdrew an opinion on Monday that it said was filed in error four days earlier in a closely watched case stemming from the 2008 bankruptcy of the media conglomerate, Tribune Co.. The 2nd U.S. Circuit Court of Appeals in New York had ruled that creditors of the Tribune Co could not claw back $8 billion paid to public shareholders nearly a...

  • SEOUL, March 24- Samsung Electronics Co Ltd, the world's biggest maker of smartphones and memory chips, announced on Thursday that it plans to adopt a corporate culture akin to a startup, seeking to become more nimble as growth slows. The flagship firm of South Korea's dominant conglomerate will also reduce the number of levels in its staff hierarchy and hold more...

  • SAO PAULO, March 23- Brazilian prosecutors said on Wednesday no plea-bargain talks are underway with executives from engineering conglomerate Grupo Odebrecht SA and that the company's public announcement of its intention to cooperate had no legal standing. Odebrecht, which had previously denied participating in a scheme to siphon money from state-run...

  • MILAN, March 23- Hitachi has bought more shares in Ansaldo STS to take its overall stake in the Italian-based rail signalling group to just under 50 percent as it strengthens its grip in a growing row with minority shareholders. In a statement on Wednesday the Japanese conglomerate said it had bought a further 6.94 million shares at 10.5 euros each to boost its...

  • NEW YORK, March 23- The U.S. Department of Justice is pushing to block the release of documents detailing how the German industrial conglomerate Siemens AG improved compliance in the wake of a sweeping bribery case, in the latest battle over how much information about corporate settlement agreements should be made public. The non-profit news organization 100...

  • NEW YORK, March 22- S&P Dow Jones Indices is negotiating with asset managers to license its new index, which it says represents companies that focus on the long term rather than the current quarter. The Long-Term Value Creation Global Index could be the basis for one or more mutual funds, exchange-traded funds or structured products, Vinit Srivastava, S&P's...

  • *Toshiba considering $1.8 bln writedown for Westinghouse- Asahi. TOKYO, March 18- Japan's Toshiba Corp said on Friday it was looking at whether it would need to write down its nuclear business given damage to the company's credit profile after a $1.3 billion accounting scandal last year. At a business strategy update on Friday, it unveiled an extra 3,000 job cuts,...

  • ZURICH, March 18- Richemont's co-chief executive Bernard Fornas is to retire at the end of March, leaving Richard Lepeu as sole CEO, the Swiss luxury goods conglomerate said on Friday. Sales in Hong Kong, the biggest market for Swiss watches, have been hit by China's economic slowdown and Beijing's anti-corruption campaign and clampdown on extravagant spending,...

  • *Toshiba considering $1.8 bln writedown for Westinghouse- Asahi. TOKYO, March 18- Japan's Toshiba Corp is considering a large writedown for its Westinghouse nuclear power unit, a newspaper report said on Friday, while the company confirmed that U.S. authorities are probing accounting at its U.S. units. But the spokesman confirmed several U.S. units have received...

  • TAIPEI, March 18- A battle among brothers for control of one of Taiwan's biggest conglomerates boiled over into the public domain last week when EVA Airways ejected its chairman. Chang Kuo-Wei, also a pilot for a carrier he had led since 2013, had just flown an EVA jet to Singapore when he was ousted at a March 11 board meeting called by his three older brothers,...

  • *U.S. authorities probing its acccounting practices- Bloomberg. TOKYO, March 17- Japan's Toshiba Corp announced a $5.9 billion asset sale and a big investment in its chip business on Thursday, but saw its shares slide on a report that U.S. authorities were investigating accounting related to its Westinghouse nuclear power unit. U.S. authorities are opening a case...