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Capital Goods Industrial Conglomerates

  • *Appeals likely to go to Supreme Court next year- experts. SEOUL, Aug 25- A South Korean court will rule on Friday on corruption charges against Jay Y. Lee, the billionaire head of Samsung Group, after a six-month trial in a nationwide bribery scandal that triggered the dismissal from office of the country's president. The third-generation de facto head of the...

  • *Appeals likely to go to Supreme Court next year- experts. SEOUL, Aug 25- A South Korean court will rule on Friday on corruption charges against Jay Y. Lee, the billionaire head of Samsung Group, after a six-month trial in a nationwide bribery scandal that triggered the dismissal from office of the country's president. The third-generation de facto head of the...

  • TOKYO, Aug 24- A consortium that includes Western Digital is offering 1.9 trillion yen for Toshiba Corp's memory chip business, which the Japanese conglomerate is trying to sell to cover losses from its U.S. nuclear business, sources said on Thursday. The consortium also includes U.S. private equity firm KKR& Co as well as the state-backed Innovation Network Corp...

  • TOKYO, Aug 24- A consortium that includes Western Digital is offering 1.9 trillion yen for Toshiba Corp's memory chip business, which the Japanese conglomerate is trying to sell to cover losses from its U.S. nuclear business, sources said on Thursday. Western Digital is set to offer 150 billion yen through convertible bonds and will not seek voting rights in the...

  • *Nidera hit by losses, accounting irregularities in Brazil. Aiming to become a stronger global player, COFCO had hoped to combine Nidera with Noble Agri, a unit of Singapore- listed trading house Noble Group, which it also began buying in 2014.. "And the accounting issue in Nidera's Brazil business helped accelerate the sale."

  • *Any appeal likely to go to Supreme Court next year- experts. SEOUL, Aug 24- If convicted and given a jail sentence, home for Jay Y. Lee, the billionaire de facto head of South Korean conglomerate Samsung, could be a crowded prison set in wooded hills just to the north of Seoul, where disgraced politicians and business leaders have previously served time.

  • *Lower court ruling in Jay Y. Lee trial on Friday. *Samsung Securities regulatory approval delayed due to trial. SEOUL, Aug 24- Samsung Group, South Korea's leading conglomerate, has no' Plan B' for taking big decisions if its billionaire de facto leader Jay Y. Lee is jailed for corruption, people familiar with the matter said.

  • Aug 23- General Electric Co has resumed negotiations to sell its industrial solutions business to Swiss engineering company ABB Ltd, after the U.S. industrial conglomerate moderated its price expectations, people familiar with the matter said. The move underscores the determination of John Flannery, who took over from Jeffrey Immelt as GE's chief executive...

  • JEDDAH, Aug 23- Saudi Aramco is expected to sign a final deal with PetroChina, China's second-largest state-run refiner, within six months to invest in its Yunnan refinery, Saudi Arabia's Energy Minister Khalid al-Falih told Reuters on Wednesday. The world's top oil exporter aims to push ahead with its oil investments in China to become the country's biggest...

  • *Nidera hit by losses, accounting irregularities in Brazil. Aiming to become a stronger global player, COFCO had hoped to combine Nidera with Noble Agri, a unit of Singapore- listed trading house Noble Group, which it also began buying in 2014.. "And the accounting issue in Nidera's Brazil business helped accelerate the sale."

  • MUMBAI/ SINGAPORE, Aug 23- India's Reliance Industries Ltd expects to increase operating profit and naphtha exports as it switches to cheaper ethane at its petrochemical projects, a company executive said on Wednesday. Reliance's annual naphtha exports will rise by 500,000 tonnes this fiscal year, said Vipul Shah, chief operating officer for petrochemicals...

  • TOKYO, Aug 23- Japan's Toshiba Corp is prioritizing talks with Western Digital to sell its memory chip business, as negotiations with a previously preferred bidder have stalled, the Nikkei business daily reported on Wednesday. Shares in the conglomerate, which is scrambling to sell its flash memory unit for around $18 billion to cover losses from its bankrupt...

  • TOKYO, Aug 23- Japan's Toshiba Corp is prioritising talks with Western Digital to sell its memory chip business, as negotiations with a previously preferred bidder have stalled, the Nikkei business daily reported on Wednesday. Shares in the conglomerate, which is scrambling to sell its flash memory unit for around $18 billion to cover losses from its bankrupt...

  • SAO PAULO, Aug 22- A Brazilian appeals court upheld a prior ruling that froze assets held by Construtora Odebrecht SA, a unit of the Brazilian engineering conglomerate Odebrecht SA that has been ensnared in a massive corruption probe, dubbed "Operation Car Wash." A group of judges at the Regional Federal Tribunal of the 4th Region said in a statement on Tuesday that...

  • Aug 22- Warren Buffett's failure to clinch a $9 billion takeover of the Texas utility Oncor prompted S&P Global Ratings on Tuesday to say the billionaire's Berkshire Hathaway Inc is no longer at risk of a credit rating downgrade. S&P affirmed Berkshire's "AA" rating, its third-highest grade, with a "stable" outlook after Sempra Energy struck an agreement with...

  • SAO PAULO, Aug 22- Cesar Mata Pires, the owner and co-founder of Brazilian engineering conglomerate OAS SA, one of the largest companies involved in Brazil's corruption scandal, died on Tuesday. The son of a wealthy cattle rancher in the northeastern state of Bahia, Mata Pires' links to politicians were central to the expansion of OAS, which became Brazil's No. 4...

  • HONG KONG, Aug 22- Dalian Wanda Group said on Tuesday it had scrapped plans to buy Nine Elms Square in London, the latest setback for the Chinese conglomerate as Beijing tightens controls on overseas investment. It would be the second time in a matter of weeks that the Chinese developer has stepped in to take over assets from Wanda, owned by one of China's richest men,...

  • SEOUL, Aug 22- South Korea's new antitrust chief said he had been in talks with the autos-to-steel conglomerate Hyundai Motor Group about overhauling its complex ownership structure, helping lift shares of major companies on Monday. How does cross shareholding at Hyundai work? However, he singled out Hyundai Motor Group, South Korea's No.2 conglomerate with...

  • TOKYO, Aug 21- The head of auditor PricewaterhouseCoopers Aarata LLC on Monday denied it came under political pressure to sign off on an annual financial report by Toshiba Corp, a move which helped the troubled Japanese conglomerate avert a delisting. The auditor's rare, two-part verdict came at a sensitive time for Prime Minister Shinzo Abe.

  • Aug 21- U.S. biofuels regulations, which mandate mixing corn-based ethanol into gasoline, have lately drawn together a diverse cast of political opponents. They include an upstart gas station owners' trade group, a former Obama administration environmental adviser and billionaire activist investor Carl Icahn, who owns a refiner and served as U.S.