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Capital Goods Industrial Conglomerates

  • Aug 31- Samsung Electronics Co Ltd said on Thursday it has received a permit to test self-driving vehicles in California, marking the entry of the world's largest smart phone maker four months after iPhone maker and arch rival Apple Inc received a permit. In a statement to Reuters, Samsung did not say what precisely what it planned to test in the United States but...

  • TOKYO, Aug 31- Toshiba Corp failed to seal a deal to sell its prized chip business by an internal deadline of Thursday, raising doubts about whether it can plug a balance sheet hole in time to avoid a delisting and keep the unit competitive. The embattled Japanese conglomerate said in a statement it has tried but so far not come to an agreement and it was continuing to...

  • TOKYO, Aug 31- Toshiba Corp failed to seal a deal to sell its prized chip business by an internal deadline of Thursday, raising doubts about whether it can plug a balance sheet hole in time to avoid a delisting and keep the unit competitive. The embattled Japanese conglomerate said in a statement it has tried but so far not come to an agreement and it was continuing to...

  • BEIJING Aug 31- In the industrial outskirts of Beijing, a local community in the shadow of a giant Hyundai Motor Co manufacturing complex is feeling the fallout from a fierce diplomatic standoff between China and South Korea. Workers said shifts at the cluster of Hyundai plants had been slashed as Hyundai struggles with plunging sales in China amid the...

  • HONG KONG, Aug 31- Fosun International, one of China's most acquisitive conglomerates, brushed off the impact of a crackdown on overseas dealmaking and said it welcomed Beijing's guidelines on offshore investment, as it posted a record jump in first-half profits. In June, Beijing ordered a group of lenders to assess exposure to some of China's more aggressive...

  • PARIS, Aug 31- French conglomerate Bouygues kept its 2017 outlook for higher earnings as growth in its construction and telecoms businesses drove a rise in first-half profits. Bouygues, which builds roads and owns France's biggest private TV broadcaster TF1, said first-half current operating profits surged 87 percent from a year ago to 385 million euros.

  • TOKYO, Aug 31- Toshiba Corp failed to seal a deal to sell its prized chip business by a self-imposed deadline of Thursday, raising doubts about whether it can plug a balance sheet hole in time to avoid a delisting and keep the chips unit competitive. The board of the embattled Japanese conglomerate met earlier in the day to review a $17 billion offer by a consortium...

  • Aug 30- Chinese conglomerate HNA Group Co's financing costs more than doubled in the first half of the year following two years of aggressive deal-making, Bloomberg reported on Wednesday. Financing costs surged to 14.2 billion yuan in the first half of 2017 from 6.47 billion yuan a year earlier, Bloomberg said, citing the company's semiannual report....

  • MOSCOW, Aug 30- Russian conglomerate Sistema said on Wednesday it had no plans to reduce its stake in mobile phone operator MTS to pay oil giant Rosneft a $2 billion settlement and would be able to raise the funds from banks. A court in the Russian region of Bashkortostan ruled last week that Sistema should pay 136.3 billion roubles to settle the claim that...

  • NEW YORK, Aug 30- Billionaire investor Warren Buffett told CNBC on Wednesday that he had not sold a share of Apple and was not concerned about Wells Fargo as a long-term investment and that it was a "terrific" bank. Buffett, chairman and chief executive of conglomerate Berkshire Hathaway Inc, said about Apple: "I've never sold a share." Buffett said he was more certain...

  • TOKYO, Aug 30- A consortium led by Bain Capital and including Apple Inc has offered a revised last-ditch bid for Toshiba Corp's prized memory chip unit worth $18 billion, Japanese broadcaster NHK reported. Under the new proposal, Bain and Toshiba would both hold 46 percent each of the unit, NHK said, adding that talks between the Japanese conglomerate and a Western...

  • Aug 29- Warren Buffett's Berkshire Hathaway Inc has become Bank of America Corp's largest shareholder by exercising its right to acquire 700 million shares at a steep discount, more than tripling an investment it made six years ago. Bank of America on Tuesday said Berkshire exercised warrants to acquire its shares for roughly $7.14 each, well below their...

  • LAUNCESTON, Australia, Aug 29- Adani Enterprises' decision to start building Australia's biggest coal mine would appear at face value to be a straightforward announcement that a major project is finally getting underway. The Indian conglomerate said on Aug. 28 that it will start work in October on the Carmichael coal mine in Queensland state, initially using A...

  • MOSCOW, Aug 28- A conglomerate controlled by Russian billionaire Mikhail Gutseriev and his family is selling off a $400 million portfolio of assets, including Russia's only completed building designed by architect Zaha Hadid, two real estate sources told Reuters. The most expensive single lot, according to a prospectus circulated by Safmar and seen by...

  • DUBAI, Aug 27- Major Qatari shipping conglomerate Qatar Navigation is launching a direct service between Qatar and Karachi in Pakistan, the company said on Sunday, as it seeks to counter economic sanctions against Doha by other Arab States. Saudi Arabia, the United Arab Emirates, Bahrain and Egypt severed diplomatic and transport links with Doha on June 5, ending...

  • *Choi Gee-sung sentenced to 4 years jail in corruption trial. SEOUL, Aug 25- Over four decades, Choi Gee-sung, the fourth son of a poor civil servant, worked his way to the top of South Korea's Samsung Group, one of the world's leading business empires, inspiring a legion of salaried workers. The Samsung scandal is the latest in a series to mire South Korea's so-called...

  • *Seoul court says Lee paid bribes to seek ex-leader's favor. *Prosecutors sought 12- year jail term on bribery, other charges. SEOUL, Aug 25- The billionaire head of South Korea's Samsung Group, Jay Y. Lee, was jailed for five years for bribery on Friday in a watershed for the country's decades-long economic order dominated by powerful, family-run conglomerates.

  • *Choi Gee-sung sentenced to 4 years jail in corruption trial. SEOUL, Aug 25- Over four decades, Choi Gee-sung, the fourth son of a poor civil servant, worked his way to the top of South Korea's Samsung Group, one of the world's leading business empires, inspiring a legion of salaried workers. The Samsung scandal is the latest in a series to mire South Korea's so-called...

  • *Seoul court says Lee paid bribes to seek ex-leader's favor. SEOUL, Aug 25- The billionaire head of South Korea's Samsung Group, Jay Y. Lee, was jailed for five years for bribery on Friday after a six-month trial over a scandal that brought down the president. Lee had paid bribes in anticipation of favors from then president Park Geun-hye, according to a landmark...

  • SEOUL, Aug 25- A South Korean court ruled on Friday that Samsung Group leader Jay Y. Lee had paid bribes in anticipation of favors from then president Park Geun-hye. A Seoul Central District Court judge delivering its ruling on bribery and other charges after a six-month trial in a scandal that triggered Park's impeachment and ouster, also found Lee guilty of...