Capital Goods Industrial Conglomerates

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  • SAO PAULO, Dec 14- Spanish conglomerate Abengoa told Brazil's power sector regulator Aneel that it has stopped work on concessions to build and operate new transmission lines in the country, according to a document seen by Reuters on Monday. The document, obtained with a freedom of information request, detailed Aneel's recent meeting with Abengoa executives,...

  • SHANGHAI, Dec 14- Shanghai stocks jumped more than 2 percent on Monday in their best session in a month, as stronger-than-expected November factory activity lifted sentiment without dashing hopes of fresh stimulus. But stocks linked to Chinese conglomerate Fosun Group slumped, as investors had their first chance to react to news that Fosun's billionaire...

  • BEIJING, Dec 13- Guo Guangchang, one of China's best-known entrepreneurs, is helping police with an investigation that mostly concerns his personal affairs, the president of Guo's investment conglomerate Fosun International said on Sunday. Fosun had confirmed on Friday that Guo, a self-styled student of investor Warren Buffett, was assisting authorities...

  • BEIJING, Dec 13- Guo Guangchang, one of China's best-known entrepreneurs, is helping police with an investigation that focuses mostly on his personal affairs, the president of Guo's investment conglomerate Fosun International said on Sunday. Fosun had confirmed on Friday that Guo, a self-styled student of investor Warren Buffett, was assisting authorities...

  • *Dow, Du Pont to merge, then split into three. Dec 11- Chemical titans DuPont and Dow Chemical Co agreed to combine in an all-stock merger valued at $130 billion in a move that pleased activist investors, would generate tax savings and trigger more consolidation while drawing scrutiny from regulators. The "deal of three centuries," as Wells Fargo analyst Frank Mitsch...

  • *Companies to merge, then split into three. Dec 11- Chemical titans DuPont and Dow Chemical Co agreed to combine in an all-stock merger valued at $130 billion in a move that pleased activist investors, would generate tax savings and trigger more consolidation while drawing scrutiny from regulators. The "deal of three centuries," as Wells Fargo analyst Frank Mitsch...

  • SHANGHAI, Dec 11- China stocks ended at a nearly two-week low on Friday, with a sliding yuan and widening problems at conglomerate Fosun Group hurting investor sentiment. "A U.S. rate hike would have a major impact on money flows out of emerging markets including Hong Kong and China," said Linus Yip, chief strategist at First Shanghai Securities.

  • *Fosun's US-traded OTC stock fell 6.6 pct on Thursday. *Fosun says current business operations normal. HONG KONG, Dec 11- Shares in firms controlled by one of China's best-known entrepreneurs were suspended in Hong Kong and the mainland after a financial magazine said the Fosun conglomerate had lost contact with billionaire founder and chairman Guo...

  • HONG KONG, Dec 11- Shares in China's largest privately owned conglomerate Fosun Group were suspended in Hong Kong on Friday hours after a Chinese financial magazine reported the company had been unable to contact its billionaire chairman and founder. In a statement, Fosun said it had requested the halting of its shares pending the release of an announcement...

  • *Sees 2016 adjusted EPS $6.30- $6.60, revenue $56- $58 bln. Dec 10- United Technologies Corp raised the lower end of its full-year adjusted earnings forecast and announced a $1.5 billion restructuring plan aimed at reducing costs, mainly through factory consolidation. United Technologies, whose shares rose 1.4 percent in extended trading, makes Otis elevators,...

  • *Toshiba has 60 pct stake in NuGen project. TOKYO, Dec 10- Toshiba Corp is asking Japanese financial institutions to help fund a nuclear project in northwest England, sources with direct knowledge of the matter said, as the conglomerate seeks ways to ease its financial burden after a $1.3 billion accounting scandal. Toshiba holds a 60 percent stake in the NuGen UK...

  • TOKYO, Dec 10- Toshiba Corp is asking Japanese financial institutions to help fund a nuclear project in northwest England, sources with direct knowledge of the matter said, as the conglomerate looks for ways to ease financial burdens after a $1.3 billion accounting scandal. Toshiba holds a 60 percent stake in the NuGen UK nuclear joint venture with France's...

  • Dec 9- A potential marriage of chemicals titans Dow Chemical and DuPont would draw intense scrutiny from regulators in the United States and other countries, but Wall Street welcomed the reported merger talks, lifting shares of both companies by 12 percent. "I look at it like Pepsi and Coca-Cola merging, then splitting into syrup, bottling, and snacks& sundry...

  • Dec 9- Merger talks between Dow Chemical Co and DuPont to create a chemicals titan with a $130 billion market value lifted Dow shares to a record on Wednesday and put DuPont on track for its biggest daily gain in more than six years. The Wall Street Journal first reported on Tuesday that the companies were in advanced merger talks that would create a chemicals...

  • *Abengoa halts construction of 6,300 km of new power lines. SAO PAULO, Dec 8- Spanish conglomerate Abengoa, teetering on the verge of bankruptcy, has halted construction of power transmission lines in Brazil, a potential setback for the South America nation's bid to emerge from its worst energy crisis in 14 years. Abengoa, which opened pre-insolvency proceedings...

  • TOKYO, Dec 7- Fifty individual shareholders of Toshiba Corp sued the Japanese conglomerate in Tokyo on Monday, seeking 301.99 million yen in damages after the firm's stock plunged in the wake of a multi-billion dollar accounting scandal. Toshiba later said it inflated profits by around 155 billion yen over about seven years. The lawyers representing the group...

  • *Toshiba plans to restructure after accounting scandal. TOKYO, Dec 4- Toshiba Corp and Fujitsu Ltd are in talks to split off and merge their personal computer units, people familiar with the matter said, as Japan's electronic conglomerates seek to retreat further from loss-making businesses. At the same time, Toshiba is under pressure to restructure in the wake...

  • TOKYO, Dec 4- Toshiba Corp and Fujitsu Ltd are considering a merger of their personal computer businesses, two people familiar with the matter said on Friday, as the companies look to shed struggling units to overhaul their operations. The Nikkei business daily reported earlier that Toshiba, Fujitsu and unlisted Vaio Corp, which was spun off from Sony Corp last...

  • *Jay Y. Lee under pressure to fix smartphone decline, find growth. SEOUL, Dec 4- Nearly 19 months after becoming de facto leader of Samsung Group, Jay Y. Lee is running out of time to show he has a plan to fix crown jewel Samsung Electronics Co Ltd as it stumbles toward possibly its first annual fall in smartphone sales. "We have yet to get a clear blueprint on how Samsung...

  • SEOUL, Dec 1- Tech giant Samsung Electronics Co Ltd's long-time handset division chief is ceding day-to-day management of the struggling smartphone business in the biggest leadership change yet under the Samsung conglomerate's heir-apparent, Jay Y. Lee. Samsung Group said 54- year-old Dongjin Koh will take over as president of the mobile communications...