Capital Goods Industrial Conglomerates

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  • *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...

  • 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, because the company cannot access financing through the U.S. In its latest salvo aimed at persuading Congress to renew the trade bank's expired charter, GE said it will invest $265 million in a new...

  • NEW YORK, Sept 25- Early in August, a call came into Sysco Corp from Trian Fund Management LP, warning the food distributor that the activist hedge fund was about to disclose a large stake in the company. Trian, run by veteran investor Nelson Peltz, unveiled its 7.1 stake in Sysco on Aug. 14, and asked for board representation and for the Houston- based company to improve...

  • Sept 24- Caterpillar Inc slashed its revenue forecast for 2015 by $1 billion and said it could cut up to 10,000 jobs through 2018, amid a downturn in the mining and energy industries. Caterpillar said it expected revenue to fall for the third straight year in 2015, to $48 billion. Caterpillar had 114,233 employees as of Dec. 31, according to Thomson Reuters data.

  • Sept 24- General Electric Co said on Thursday it reached an agreement with Britain's export credit agency to access export financing of up to $12 billion, as the U.S. conglomerate continues to spotlight the expiration of the U.S. Export-Import Bank. In GE's latest announcement, the company said the financing deal would support orders for oil and gas and other...

  • *China encouraging robot makers with policy, subsidies. *Alibaba has invested in robotics, could be China's Amazon. DALIAN, China, Sept 21- In a cavernous showroom on the outskirts of this port city in northeastern China, softly whirring lathes and svelte robot arms represent Dalian Machine Tools Group's vision of an automated future for Chinese manufacturing.

  • TOKYO, Sept 18- Japan's financial regulators are investigating an Ernst& Young affiliate over its audit of Toshiba Corp after a $1.3 billion accounting scandal at the industrial and electronics conglomerate, the auditing firm said on Friday. Ernst& Young ShinNihon LLC said the Financial Services Agency has been investigating staff involved with the audit of...

  • WASHINGTON/ NEW YORK, Sept 15- General Electric Co said on Tuesday it will move as many as 500 U.S. power turbine manufacturing jobs to Europe and China because it can no longer access U.S. Export-Import Bank financing, reigniting a congressional battle over the suspended institution's future. The largest U.S. industrial conglomerate said France's COFACE...

  • Mauritius' Rogers annual pretax profit jumps 43 pct Friday, 11 Sep 2015 | 7:38 AM ET

    PORT LOUIS, Sept 11- Mauritius- based conglomerate Rogers said pretax profit rose 43.4 percent in the year to June 30, driven by better performances from its hospitality, real estate and agribusiness operations. It said the hospitality sector was boosted by better performance from one of its units, the Heritage Resorts, a reduction in finance charges and a higher...

  • GE seeks sale of asset management arm Friday, 11 Sep 2015 | 5:53 AM ET
    General Electric

    GE seeks to sell its asset management arm to an investment management firm, as it continues to make moves to focus on its industrial products.

  • BEIJING, Sept 11- China will prosecute the former chairman of state-owned conglomerate China Resources Holding Co Ltd on suspicion of corruption, the country's main anti-graft watchdog said on Friday.

  • Sept 10- United Technologies Corp said on Thursday it would operate its Otis elevator and climate controls and security divisions as stand-alone units, the latest organizational shake-up by the U.S. conglomerate under Chief Executive Greg Hayes. The changes come after United Technologies in July cut its 2015 profit outlook for the third time this year, in...

  • Sept 10- General Electric Co said on Thursday it would seek to sell its asset management arm to an investment management firm, as the U.S. conglomerate continues to make moves to focus on its industrial products. The plan to unload the asset management arm comes after GE announced in April it would seek to sell some $200 billion worth of its GE Capital assets as it...

  • EXCLUSIVE-HNA plans China's first Islamic finance deal Thursday, 10 Sep 2015 | 12:31 AM ET

    *Geneva- based Shariah Advisory Group advising on the deals. SYDNEY, Sept 10- HNA Group, owner of Hainan Airlines, is planning the first Islamic financing deal by a mainland Chinese company, highlighting a growing push by China's private firms to find funding overseas as domestic loans remain scarce and costly. The shipping and airlines conglomerate plans to...

  • *U.S. conglomerate wins EU approval to buy Alstom's power unit. *GE agrees to sell some of Alstom's turbine assets to Ansaldo. BRUSSELS, Sept 8- General Electric has won EU approval for its 12.4- billion-euro acquisition of Alstom's power business after agreeing to sell some of the French company's turbine assets to Italian rival Ansaldo Energia.

  • NEW YORK, Sept 8- Billionaire investing icon Warren Buffett said on Tuesday that there are dozens of countries in which his sprawling Berkshire Hathaway conglomerate would be interested in buying new businesses. It was an ad that paid us, "said Buffett, 85, who over the past five decades has built Berkshire Hathaway into one of the world's most valuable companies.