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Capital Goods Industrial Conglomerates

  • NEW YORK, Aug 8- Global Bankers Insurance Group is the previously undisclosed buyer of assets from the Beechwood family of reinsurance and asset management companies, a person familiar with the matter told Reuters. The recent purchase by Global Bankers a $3.5- billion, Durham, North Carolina- based subsidiary of conglomerate Eli Global LLC was bound by a...

  • SHANGHAI, Aug 8- McDonald's Corp said it would almost double the number of stores in mainland China by 2022, slightly more than was expected, as part of its strategic partnership with state-backed conglomerate CITIC Ltd and Carlyle Group. Earlier in the year, the U.S fast food chain agreed to sell most of its China and Hong Kong business to CITIC and Carlyle for up...

  • Lee Jae-yong (front R), vice chairman of Samsung Electronics Co., arrives for his trial at the Seoul Central District Court in Seoul on August 7, 2017. South Korean prosecutors on August 7 demanded the heir to the Samsung empire be jailed for 12 years over his role in the corruption scandal that brought down the country's last president.

    Samsung Electronics Vice Chairman Jay Y. Lee fought back tears and denied wrongdoing on Monday as prosecutors sought a 12-year jail term.

  • *Lower court says will make ruling Aug 25. SEOUL, Aug 7- Samsung Electronics Vice Chairman Jay Y. Lee fought back tears and denied wrongdoing on Monday as prosecutors sought a 12- year jail term on charges that include bribing the former president to help cement control of the South Korean tech giant. Lee, the de facto leader of one of Asia's largest conglomerates, has...

  • *Lower court says will make ruling Aug 25. SEOUL, Aug 7- Samsung Electronics Vice Chairman Jay Y. Lee fought back tears and denied wrongdoing on Monday as prosecutors sought a 12- year jail term on charges that include bribing the former president to help cement control of the South Korean tech giant. Lee, the de facto leader of one of Asia's largest conglomerates, has...

  • *Lower court says will make ruling Aug 25. SEOUL, Aug 7- Samsung Electronics Vice Chairman Jay Y. Lee fought back tears and denied wrongdoing on Monday as prosecutors sought a 12- year jail term on charges that include bribing the former president to help cement control of the South Korean tech giant. Lee, the de facto leader of one of Asia's largest conglomerates, has...

  • SEOUL, Aug 7- South Korean prosecutors on Monday sought a 12- year jail term for Samsung Electronics Vice Chairman Jay Y. Lee, over charges that include allegedly bribing the former president for government support to help Lee cement control of the group. Lee, the de facto leader of one of Asia's largest conglomerates, has been in detention since February, on trial...

  • *PwC hasn't endorsed Toshiba's books since April 2016 appointment. TOKYO, Aug 7- Toshiba Corp's auditor will sign off on its annual financial results after months of being at odds with the embattled conglomerate- in a step that would lessen the risk of a delisting, the Nikkan Kogyo Shimbun newspaper reported on Monday. PricewaterhouseCoopers Aarata has not...

  • TOKYO, Aug 7- Toshiba Corp's auditor will sign off on its financial results for the year ended March, the Nikkan Kogyo Shimbun newspaper reported on Monday, sending shares in the embattled conglomerate up over 9 percent. Toshiba's auditor, Pricewaterhouse Coopers Aarata, will issue a so-called "unqualified opinion" or a "qualified opinion" by a bourse-imposed...

  • Aug 4- Warren Buffett's Berkshire Hathaway Inc on Friday said second-quarter profit fell 15 percent, reflecting lower investment gains and a loss from insurance underwriting. Net income for the Omaha, Nebraska- based conglomerate fell to $4.26 billion, or $2,592 per Class A share, from $5 billion, or $3,042 per share. Operating profit declined 11 percent to $4.12...

  • NEW YORK, Aug 3- Kabbage Inc, a U.S. online lender for small businesses, said on Thursday it had raised $250 million in equity funding from SoftBank Group Corp, the latest fintech investment by the Japanese technology conglomerate. The Atlanta- based startup, which operates in North America and Europe, will use the cash to add lending products and other types of...

  • FRANKFURT, Aug 3- Siemens said it plans to wait until next year to list its healthcare business, one of the world's top medical technology providers and a solid performer in a generally disappointing third quarter for the German industrial group. Investors have been wondering about Siemens' plans for Healthineers, valued at up to 40 billion euros, since Chief...

  • SEOUL, Aug 2- Wealthy South Koreans and leading conglomerates potentially face a big hit from tax hikes proposed by the government, as President Moon Jae- in seeks higher revenue to fund rising welfare costs and make housing more affordable for the less privileged. The government also said it will raise capital gains taxes on owners of multiple homes in Seoul and...

  • SEOUL, Aug 2- South Korea imposed stiff tax hikes on Wednesday, targeting leading conglomerates, high-income individuals and investors with large holdings of South Korean shares as President Moon Jae- in seeks to tackle income inequality and fund increased welfare benefits. The corporate tax changes will hit 129 companies in South Korea and are expected to...

  • SEOUL, Aug 2- South Korea imposed stiff tax hikes on Wednesday, targeting leading conglomerates, high-income individuals and investors with large holdings of South Korean shares as President Moon Jae- in seeks to tackle income inequality and fund increasing welfare benefits. The corporate tax changes will hit 129 companies in South Korea and are expected to...

  • *HNA having trouble taking money out of China. HONG KONG, Aug 1- At least two of HNA Group's overseas deals have hit a hurdle as the Chinese conglomerate struggles to take money out of China, said four people familiar with the process, amid a widening crackdown by Beijing on debt-fueled corporate acquisitions. The two HNA deals hit by the crackdown on transferring...

  • *HNA having trouble taking money out of China. HONG KONG, Aug 1- At least two of HNA Group's overseas deals have hit a hurdle as the Chinese conglomerate struggles to take money out of China, said four people familiar with the process, amid a widening crackdown by Beijing on debt-fueled corporate acquisitions. The two HNA deals hit by the crackdown on transferring...

  • NEW YORK, July 31- Anthony Scaramucci's swift exit as U.S. "The transaction remains on track and is expected to close by the end of the summer," said Robert Rendine, a spokesman for HNA Capital U.S., a subsidiary of Chinese conglomerate HNA Group. She declined to comment on Scaramucci's exit from the White House and whether he would return to the firm.

  • NEW YORK, July 27- Generic drug makers are turning to M&A to shield themselves against a concerted effort by U.S. regulators to crack down on steep drug prices. Impax Laboratories Inc, Perrigo Company Plc and Alvogen Inc have been talking to advisers about strategic options for their generics businesses, ranging from acquisitions to increase scale to an...

  • RIO DE JANEIRO, July 27- Brazilian federal police on Thursday arrested former Petrobras Chief Executive Officer Aldemir Bendine on suspicion he received large bribes from construction conglomerate Odebrecht. 1/ 8. In a statement, the prosecutor-general's office said police served three arrest warrants and executed 11 search and seizure orders as part of...