Capital Goods Industrial Conglomerates

  • An employee welds the shell frame of a train car at the Siemens Industry manufacturing facility in Sacramento, California.

    German industrial group Siemens beat expectations for second-quarter profit as it accelerated a cost-cutting program and lifted its savings target for the year on Wednesday.

  • LONDON, May 3- Metals group Liberty House will submit a letter of intent to buy the British assets of Tata Steel on Tuesday, a spokeswoman said, in the first concrete bid since the Indian conglomerate put the business up for sale, threatening thousands of jobs. India's Tata group announced plans to sell its entire UK steel operation in March, leaving the government...

  • LONDON, May 3- Metals group Liberty House will submit a letter of intent to buy the British assets of Tata Steel on Tuesday, a spokeswoman said, in the first concrete bid since the Indian conglomerate put the business up for sale, threatening thousands of jobs. Liberty's Executive Chairman Sanjeev Gupta had been the first businessman to express an interest in...

  • DUBAI, May 1- Stock markets in the Gulf were mixed in early trade on Sunday with Saudi Arabia's bourse buoyed by commodity-related shares while banks weighed on United Arab Emirates indexes. Saudi Basic Industries added 1.2 percent; Abdullah bin Mohammed al-Issa, a board member of Saudi Basic Industries, will also join Ma'aden's board. Heavyweight First Gulf...

  • OMAHA, Neb., April 30- Warren Buffett on Saturday defended several of Berkshire Hathaway Inc's larger or struggling investments, including Coca-Cola and the BNSF railroad. Speaking at Berkshire's annual shareholder meeting in Omaha, Nebraska, Buffett also said overall first-quarter operating profit probably fell 12 percent to $3.73 billion from $4.24...

  • OMAHA, Neb., April 30- Warren Buffett on Saturday said preliminary first-quarter profit at his Berkshire Hathaway Inc fell about 12 percent, hurt by weaker performance in its railroad and insurance operations. Quarterly operating profit for the Omaha, Nebraska- based insurance and investment conglomerate probably fell to $3.73 billion from $4.24 billion.

  • *Central beats rival TCC to win Vietnam business. *Vietnam deal takes Casino asset sales to 4.2 bln euros. Casino, facing weak markets in Brazil and fierce competition in France, has said it aimed to raise around 4 billion euros this year by selling off businesses in Thailand and Vietnam plus the sale of real estate assets in Latin America.

  • *Central beats rival TCC to win Vietnam business. *Thai tycoons jostle for deals in Vietnam. SINGAPORE/ BANGKOK, April 29- France's Casino Group agreed to sell its Vietnam unit to Thai conglomerate Central Group for 1 billion euros including debt, giving the retailer respite from a debt pile that pushed its credit rating to junk.

  • SINGAPORE/ BANGKOK, April 29- France's Casino Group has agreed to sell its Vietnam unit to Thai conglomerate Central Group for 1 billion euros including debt, the retailer said on Friday confirming an earlier Reuters story. Central Group, controlled by business family Chirathivat with interests in real estate, department stores and retailing, beat rival Thai...

  • Serge Pun, the 63- year-old project developer and one of Myanmar's richest men, says his Landmark development- which includes office, residential and hotel space- has been strangled by red tape and costly delays all because of his adherence to clean business. Companies and international agencies have long identified corruption and a lack of transparency as...

  • Serge Pun, the 63- year-old project developer and one of Myanmar's richest men, says his Landmark development- which includes office, residential and hotel space- has been strangled by red tape and costly delays all because of his adherence to clean business. Companies and international agencies have long identified corruption and a lack of transparency as...

  • Anadolu Holding, which has interests in banking, retail and brewing, plans to venture into real estate with two developments in Istanbul this year, while Aksoy Holding, an energy-to-tourism conglomerate, is building a luxury residential complex on the Aegean coast and plans another project in Istanbul. Construction lies close to heart of President Tayyip...

  • KHOBAR, Saudi Arabia, April 27- The world's biggest energy company Saudi Aramco outlined financing plans on Wednesday that will support its expansion into new areas under a sweeping economic reform plan released by Riyadh this week. The plans suggest Saudi Arabia's state oil company, which Deputy Crown Prince Mohammed bin Salman estimated this week was worth...

  • *Expansion to Nigeria will not happen hastily- CEO. JOHANNESBURG, April 26- South African supermarket operator Pick n Pay plans to expand into Nigeria next year through a partnership with a local conglomerate, as it seeks to reduce its reliance on its home market, it said on Tuesday. "We are not suddenly going to explode onto the scene in Nigeria next year but we are...

  • NEW YORK, April 22- General Electric Co reported lower first-quarter underlying revenue, citing weak sales of oil and gas drilling equipment, but it forecast a second-half upturn for power generation products that should help it meet its full-year target. "Given the negative revision in the oil and gas outlook, we believe investors will be viewing this growth...

  • NEW YORK, April 22- General Electric Co reported a higher-than-expected quarterly profit on Friday, but a closely watched revenue measure declined, raising questions about the company's full-year target. "The oil and gas environment is challenging," Chief Executive Officer Jeff Immelt said in a statement. The company's shares were down 0.9 percent at $30.70 in...

  • PARIS/ JOHANNESBURG April 21- South African retailer conglomerate Steinhoff raised its bid for Darty to $1.2 billion, trumping a sweetened offer from French rival Fnac in the battle for Europe's third-largest electrical goods firm. Steinhoff's new offer is the latest twist in a wrestling match with Fnac after initially showing up in March with a 673 million...

  • PARIS, April 21- French retailer Fnac said on Thursday it would offer 145 pence per share to buy Darty, Europe's third-largest electronics retailer, trumping an offer from Conforama, part of South African retail conglomerate Steinhoff. Conforama on Wednesday had increased its offer to 138 pence, valuing Darty at approximately 742 million pounds.

  • *Westinghouse writedown to be around 200 bln yen- sources. TOKYO, April 20- Japan's Toshiba Corp is preparing to write down the value of its stake in U.S. nuclear subsidiary Westinghouse by around 200 billion yen, sources familiar with the matter said on Wednesday. Separately, a company committee is meeting on Wednesday to approve the resignation of Chief...

  • April 19- A unit of U.S. industrial conglomerate Textron Inc said on Tuesday it has won a contract from Boeing Co to design and manufacture flight simulators for 777 X aircraft. The division, TRU Simulation+ Training Inc, will produce a suite of equipment to instruct pilots on flying and landing the aircraft in a range of situations, in time for the 2020 delivery date...