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Capital Goods Industrial Conglomerates

  • Oct 6- U.S. industrial conglomerate General Electric Co said on Friday it promoted Jamie Miller to chief financial officer, effective Nov. 1, replacing Jeffrey Bornstein. Earlier this week, GE named CEO John Flannery chairman of the board, three months ahead of schedule, after former CEO Jeff Immelt retired earlier than expected from the chairmanship.

  • Oct 6- U.S. industrial conglomerate General Electric Co said on Friday it appointed Jamie Miller, chief executive of GE Transportation, as its chief financial officer, effective Nov. 1.

  • Oct 6- Indian oil-to-telecoms conglomerate Reliance Industries Ltd signed a deal to exit a U.S. shale asset, a move that marks the end of its seven years of investment which slumped into losses due to the global oil price downturn. Houston- based Carrizo Oil& Gas Inc, the operator of the Marcellus shale in north-eastern and central Pennsylvania, also exited its...

  • MOSCOW, Oct 5- Saudi Arabia's SALIC is considering investing in a Russian grain producer owned by Russian conglomerate Sistema and members of the Louis-Dreyfus family, Sistema said on Thursday. The memorandum of understanding was one of several signed at the Russian-Saudi Business Investment Forum in Moscow. Saudi Arabia's King Salman is meeting Russia's...

  • SAO PAULO, Oct 4- French energy conglomerate Engie SA has appetite for more Brazil acquisitions, and will evaluate assets being sold by Eletrobras, despite spending more than $1 billion in a licensing auction last week, Engie's local unit head told Reuters on Wednesday. Brazil's state-controlled utility Eletrobras, or Centrais Elétricas Brasileiras SA, said...

  • HONG KONG/ NEW YORK, Oct 4- An Indian-American dealmaker for HNA Group, who recently held a big stake in the Chinese conglomerate, said he kept the shares for a decade as an "accommodation" to the company and received no compensation for doing so. The reason was that he is not a Chinese citizen and would not need Beijing's approval to hold shares outside of China, he said...

  • HONG KONG/ NEW YORK, Oct 4- An Indian-American dealmaker for HNA Group, who recently held a big stake in the Chinese conglomerate, said he kept the shares for a decade as an "accommodation" to the company and received no compensation for doing so. The reason was that he is not a Chinese citizen and would not need Beijing's approval to hold shares outside of China, he said...

  • It employs more than more than 27,000 people and is the 15th- largest private company in the United States, with annual sales of about $19.6 billion, Forbes magazine said. The Haslam family led by billionaire Jimmy Haslam, who also controls the Cleveland Browns football team, will keep a 50.1 percent stake and the Maggelet family's FJ Management Inc will retain...

  • Oct 2- U.S. industrial conglomerate General Electric Co's chairman Jeff Immelt retired earlier-than-expected on Monday, with the company naming Chief Executive John Flannery as his replacement. Immelt, who was expected to retire by the end of this year, had resigned as GE's CEO in June amid amounting pressure from activist-investor Nelson Peltz's Trian Fund...

  • The divisions between Uber and its former chief executive, Travis Kalanick, are widening.

  • Sept 29- U.S. industrial conglomerate Honeywell International Inc announced plans to increase its annual divided by 12 percent on Friday as it resists pressure from investors to part with its aerospace unit. Activist investor Daniel Loeb and his hedge fund Third Point LLC have argued Honeywell is undervalued compared to peers in industrial automation and...

  • Sept 29- U.S. industrial conglomerate Honeywell International Inc announced plans to increase its annual divided by 12 percent on Friday as it resists pressure from investors to part with its aerospace unit. Sources told Reuters the company was now not planning to spin off its largest single business and would sell only some limited assets, potentially...

  • Sept 29- U.S. industrial conglomerate Honeywell International Inc will increase its annual divided by 12 percent as of the fourth quarter of this year, the company said on Friday, as it resists pressure from investors to part with its aerospace unit. Separately, CNBC cited sources as saying that the company would not now spin off the aerospace unit, as activist...

  • FRANKFURT, Sept 27- Siemens and Alstom have agreed to merge their rail businesses, creating a bigger second player to China's CRRC, with sales of 15.3 billion euros. 2013- Siemens bought Britain's Invensys Rail Group for 1.7 billion pounds. 2015- Japan's Hitachi bought Ansaldo STS& Breda from Italy's Finnmeccanica for about 800 million euros.

  • BEIJING/ HONG KONG, Sept 27- Privately-run conglomerate CEFC China Energy has obtained preliminary state approval for its proposed $9.1 billion investment in Russian oil major Rosneft, three sources with knowledge of the matter told Reuters. CEFC said earlier this month it will buy a 14.16 percent stake in Rosneft from a consortium of Glencore and the Qatar...

  • BEIJING/ HONG KONG, Sept 27- Privately-run conglomerate CEFC China Energy has obtained preliminary state approval for its proposed $9.1 billion investment in Russian oil major Rosneft. just about a week after the deal was announced, three sources with knowledge of the matter told Reuters. CEFC said earlier this month it will buy a 14.16 percent stake in Rosneft...

  • *Arguments to begin mid-October at Seoul High Court. SEOUL, Sept 27- Samsung Electronics Vice Chairman Jay Y. Lee on Thursday will begin an appeal of his five-year jail term for corruption, in a case highlighting South Korea's issues with the family-run conglomerates that dominate the economy. At Thursday's hearing, the Seoul High Court will set the order of...

  • *Signs of political backlash in France. MUNICH/ PARIS, Sept 27- German industrial group Siemens AG and French rival Alstom SA agreed to merge their rail operations, creating a European champion to better withstand the international advance of China's state-owned CRRC Corp Ltd.. Siemens will own 50 percent plus a few shares of the joint venture, to be called...

  • DUBAI, Sept 26- Rising oil prices helped Middle East indexes eke out modest gains on Tuesday, though shares more exposed to foreign funds followed global markets lower, weighed down by a list of worries including North Korea. The main stock index had dropped 1.4 percent on Monday amid rumors that index compiler FTSE might not upgrade Riyadh to emerging-market...

  • BEIJING, Sept 26- HNA Group, the high-flying Chinese conglomerate caught in the cross-sights of Beijing, has hit turbulence as deals stall and scrutiny of its finances and shareholding structure intensifies. Beijing's clampdown on highly-leveraged foreign investment has led to more regulatory scrutiny around the world, putting the brakes on a remarkable...