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  • MUMBAI/ TURIN, Dec 14- India's Mahindra group, with interests from tractors to IT outsourcing, has agreed to buy Italy's Pininfarina SpA in an all-cash deal valuing the Turin- based car designer at just a quarter of its closing price on Friday. In March for instance China National Chemical Corp agreed to buy into tire maker Pirelli& C SpA in a 7.3 billion euro deal.

  • *Aluminum prices shrug off China output cuts. LONDON, Dec 14- Copper slipped on Monday as oil tumbled towards 11- year lows and risk appetite was subdued ahead of an expected U.S. rate hike, although better than expected Chinese economic data put a firm floor under prices. "Given the weakness in oil and U.S. equities, the odds of base metals pushing substantially...

  • MUMBAI, Dec 14- India's Mahindra group, with interests in cars and tractors, finance and IT outsourcing services, is to buy Italian car designer Pininfarina for about 33 million euros in an all-cash deal. In March, China National Chemical Corp agreed to buy into tire-maker Pirelli in a 7.3 billion euro deal. Mahindra will do the deal via a new unit in which automaker...

  • JOHANNESBURG, Dec 14- The chief executive of ArcelorMittal's South African unit said on Monday he was stepping down, after less than two years at the helm, to pursue other interests. Its shares fell more than 5 percent on news of Paul O'Flaherty's departure. In a statement, the company said O'Flaherty will join the company's board as a non-executive director, after...

  • Worries about weak demand from top consumer China and excess supply have hit benchmark prices, which have slid about a quarter this year. "Copper industry fundamentals remain for now relatively healthy across the globe but have also been affected to some extent by the deceleration in China," Trafigura said in its annual report. During 2015, there was a major draw...

  • NEW YORK, Dec 14- Cash-strapped U.S. shale oil producers are facing another sharp sell-off in a 18- month-old crude slump with reduced hedging protection, risking a severe hit to earnings if prices fail to recover. "Producers have survived 2015 as they benefited from large reductions in service costs while having a significant amount of production hedged at...

  • BEIJING, Dec 12- China's output of key industrial commodities including coal and steel remained weak in November amid chronic oversupply as slowing construction demand took its toll. Our house view is for slowing growth in 2016, and importantly the mix is moving further towards less commodity-intensive services sectors, "analysts with ANZ Research said in a...

  • BEIJING, Dec 12- China produced 320 million tonnes of coal in November, down 2.7 percent from the same time last year, the country's statistics bureau said on Saturday, with struggling miners cutting output in order to minimise losses. Coal production for the first eleven months of the year was 3.37 billion tonnes, down 3.7 percent compared to the same period last...

  • BEIJING, Dec 12- China produced 63.32 million tonnes of crude steel in November, down 1.6 percent on the year, hit by stagnant demand and a collapse in prices. Total steel production in the first eleven months of the year reached 738.4 million tonnes, down 2.2 percent on the year, the National Bureau of Statistics said on Saturday. The Chinese steel sector, the world's...

  • *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...

  • Dec 11- Seeds and chemical maker Dow Chemical Co said it would assume full control of Dow Corning, its joint-venture with Gorilla glass maker Corning Inc.. The transaction is expected to yield more than $1 billion in additional annual EBITDA at full run-rate synergies, Dow Chemical said. Dow and Corning will maintain their current equity stake in Hemlock,...

  • Dec 11- Seeds and chemical maker Dow Chemical Co said it would assume full control of its joint-venture with Corning Inc, the supplier of Gorilla Glass for iPhones. Formed in 1943, Dow Corning produces silicon-based products for aerospace, automotive and electrical industries. The transaction is expected to yield more than $1 billion in additional annual...

  • *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...

  • *Lonmin says 71 pct of shares on offer sold. JOHANNESBURG, Dec 11- Platinum producer Lonmin's deeply discounted $400 million rights issue was undersubscribed, forcing the company's underwriters to buy shares in the company, showing that investors are losing faith in the beleaguered mining sector. The underwriters, HSBC, J.P. Morgan Cazenove and Standard Bank,...

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

  • NEW DELHI, Dec 11- India imposed import duties for five years on some stainless steel imports from China, the European Union and the United States on Friday, as the government tries to protect local companies suffering from what it says is unfair competition. Imports from South Korea, South Africa, Taiwan and Thailand will also be taxed. Firms including the Steel...

  • *Each co's shareholders to get about 50 pct of DowDuPont. Dec 11- Chemical giants DuPont and Dow Chemical Co agreed to merge in an all-stock deal valuing the combined company at $130 billion, with plans to eventually split into three. DuPont Chief Executive Ed Breen will be CEO of DowDuPont, and Dow Chemical CEO Andrew Liveris will be executive chairman.

  • Dec 11- Seeds and chemical maker Dow Chemical Co said it would buy the remaining stake in its joint-venture with Gorilla glass maker Corning Inc.. The transaction is expected to yield more than $1 billion in additional annual EBITDA at full run-rate synergies, Dow Chemical said. Dow and Corning will maintain their current equity stake in Hemlock Semiconductor...

  • Dec 11- Seeds and chemical maker Dow Chemical Co said it would buy the remaining stake it its joint-venture with Corning Inc, the supplier of Gorilla Glass for iPhones. Formed in 1943, Dow Corning produces silicon-based products for aerospace, automotive and electrical industries. The transaction is expected to yield more than $1 billion in additional annual...

  • NEW DELHI, Dec 11- India imposed five-year anti-dumping duties on stainless steel imports from China, the European Union and the United States on Friday, as the government tries to help local companies suffering from cheaper imports. Imports from South Korea, South Africa and Thailand will also be taxed. Indian Trade Minister Nirmala Sitharaman said New Delhi...

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