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Capital Goods Industrial Conglomerates

  • *Global M&A volume fell 17 pct to $3.6 trln vs 2015' s record. *China outbound cross-border M&A a record $221 billion. NEW YORK/ LONDON, Dec 29- A telecommunications carrier seeks to become a TV network and movie studio owner.

  • LONDON, Dec 29- Oil's plunge to its lowest in over a decade and fears over China's economy hammered global commodity markets and share prices earlier this year, but investors who held their nerve will be partying the hardest this holiday season. Shares in mining and commodity trading giant Glencore are up 200 percent this year and shares in Anglo American are up...

  • *Toshiba writedown could be $4.3 billion- source. TOKYO, Dec 29- Faced with the prospect of a multi-billion-dollar writedown that could wipe out its shareholders' equity, Japan's Toshiba is running out of fixes: it is burning cash, cannot issue shares and has few easy assets left to sell. The Tokyo- based conglomerate, which is still recovering from a $1.3 billion...

  • TOKYO, Dec 29- Shares in Toshiba fell more than 19 percent on Thursday, clocking a third day of heavy losses after the Japanese tech-to-nuclear conglomerate said earlier this week it faced a potential multi-billion dollar writedown. "Although Toshiba is still assessing the exact amount of the impairment loss, its financial metrics will likely deteriorate...

  • RABAT, Dec 28- The court-appointed manager of Morocco's only oil refiner, Samir, has received a $3 billion offer for the business from a foreign conglomerate, he said on Wednesday, without naming the bidder. "We were planning to launch expressions of interest this week, but we have received an offer of 31 billion dirham from a foreign conglomerate," Mohamed El-Krimi,...

  • HYDERABAD, Dec 28- Vasudeva Prakash left his job as a mechanic in Hyderabad three years ago for what he calls a more lucrative career: taking part in clinical trials on generic drugs. Half of more than a dozen volunteers interviewed by Reuters across four cities- Chennai, Hyderabad, Bengaluru, and New Delhi- also said they waited much less than 90 days between trials.

  • *Follows $1.3 bln accounts scandal, $2 bln charge for nuclear biz. TOKYO/ NEW YORK, Dec 27- Toshiba Corp said it may have to book several billion dollars in charges related to a U.S. nuclear power plant construction company acquisition, sending its stock tumbling 12 percent and rekindling concerns about its accounting acumen. Toshiba's latest writedown would be...

  • *Mistry dismissed as Tata Sons chairman in October. NEW DELHI/ MUMBAI, Dec 27- As India's biggest corporate showdown heads from the boardroom to the courtroom and brings in a Who's Who of the country's legal profession, ousted Tata Sons chairman Cyrus Mistry vows a multi-layered battle for governance reforms at the $100 billion conglomerate, people close to him...

  • MUMBAI, Dec 27- Tata Sons on Tuesday accused its former chairman Cyrus Mistry of breaching confidentiality rules and said it would take legal action against him, intensifying a battle between the conglomerate and the top executive it sacked in October. Tata Sons, in a two-page legal notice from its law firm on Tuesday seen by Reuters, alleged that Mistry had "...

  • *Follows $1.3 bln accounts scandal, $2 bln charge for nuclear biz. TOKYO, Dec 27- Toshiba Corp said it may have to book several billion dollars in charges related to a U.S. nuclear power acquisition, a shock warning that sent its stock tumbling 12 percent and rekindled concerns about its accounting acumen. Such a hit would be another slap in the face for a sprawling...

  • MUMBAI, Dec 27- Tata Sons on Tuesday filed a legal notice against Cyrus Mistry, accusing the former chairman of the Tata conglomerate of breaching confidentiality rules, according to a letter from Tata Sons' law firm seen by Reuters. Tata Sons, in a two-page legal notice from its law firm, alleged that Mistry shared "confidential data, business strategies, financial...

  • TOKYO, Dec 27- Toshiba Corp said on Tuesday the conglomerate was considering to steps to raise capital as it could not rule out that a huge charge to its U.S. nuclear business might wipe out its shareholders' equity. "We are considering measures including some kind of capital strategy," CEO Satoshi Tsunakawa told a news conference, after Toshiba announced it may have...

  • TOKYO, Dec 27- Toshiba Corp said it may have to book several billion dollars in losses related to a U.S. nuclear power acquisition, a shock warning that sent its stock tumbling 12 percent and rekindled concerns about its accounting acumen. Big losses would be another slap in the face for a sprawling conglomerate hoping to recover from a $1.3 billion accounting...

  • TOKYO, Dec 27- Toshiba Corp said it may book a goodwill impairment loss of several hundreds of billion yen on a U.S. nuclear power acquisition- a shock warning that sent it stock tumbling 12 percent and rekindled concerns about its accounting acumen. Potential losses reported by domestic media have ranged from 100 billion yen to 500 billion yen.

  • TOKYO, Dec 27- Toshiba Corp said on Tuesday it may book a goodwill impairment loss of several hundreds of billion yen on a U.S. nuclear power acquisition made by its Westinghouse division, sending its stock tumbling 12 percent. Potential losses reported by domestic media have ranged from 100 billion yen to 500 billion yen. Such a loss would deal another heavy blow...

  • NEW DELHI/ MUMBAI, Dec 26- When Ratan Tata retired as chairman of Tata Sons Ltd in 2012, he proposed a change in the laws governing the relationship between India's largest conglomerate and its key shareholder, according to sources familiar with the situation. But an outsider, Cyrus Mistry, had just taken the top job at Tata Sons. "It is going to be very difficult for an...

  • SAO PAULO, Dec 23- Orascom TMT Investments SARL will have two of nine seats on Oi SA's board if its binding offer to buy the Brazilian telephone carrier succeeds, Karim Nasr, the executive who is leading the talks, said in an interview on Friday. The presence of Orascom, a conglomerate owned by Egyptian billionaire Naguib Sawiris, is "not about controlling the board,"...

  • SAO PAULO, Dec 23- Orascom TMT Investments SARL will have two of nine seats on Oi SA's board if its binding offer to buy the Brazilian telephone carrier succeeds, Karim Nasr, the executive who is leading the talks, said in an interview on Friday. The presence of Orascom, a conglomerate owned by Egyptian billionaire Naguib Sawiris, is "not about controlling the board,"...

  • MUMBAI, Dec 21- Tata Sons' ousted chairman Cyrus Mistry, in his first legal salvo against the conglomerate, has appealed to a quasi-judicial body to either replace the company's current board of directors or appoint a retired Supreme Court judge as its non-executive chairman. Mistry ratcheted up his battle against the $100 billion software-to-salt...

  • TEL AVIV, Dec 20- Israeli police arrested a former business associate of mining billionaire Beny Steinmetz on Tuesday in a widening inquiry into allegations of bribery and corruption in Africa. Asher Avidan, ex-president of a company linked to Steinmetz's BSG Resources and a former employee of Israel's Ministry of Foreign Affairs, has been placed under house...