CIT, a financial conglomerate, has placed its chief executive and two other senior managers on leave.
IMI, a financial conglomerate, have delivered positive returns to investors, they have badly trailed the Milan stockmarket.
Strikingly, the financial conglomerate is paying slightly higher interest on its five-year debt than Lehman or Bear Stearns.
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Ping An's ambition is to move beyond insurance and become a financial conglomerate by further developing its banking and asset management units.
Citic Trust is a unit of Chinese financial conglomerate Citic Group Corp.
The supposed advantage of a financial conglomerate is the ability to meet all of its customers' needs, from personal loans to put options, in one financial supermarket.
Blackstone Group, the private equity firm founded by Stephen Schwarzman that has evolved in recent years into a financial conglomerate, has now turned its attention to investment banking.
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Certainly, when Salomon Brothers, an investment bank, was acquired last September by Travelers, a financial conglomerate, many on Wall Street suspected that the deal had more to do with the considerable ego of Sandy Weill, the boss of Travelers, than with commercial logic.
Weill, who built the company in a series of acquisitions starting in the late 1980s, when he rescued a little Baltimore commercial credit firm, said the financial conglomerate model now under fire at Citi and elsewhere is a solid model and worth fighting for.
In 1991, American Express was suffering from the results of a failed attempt to expand into a full-fledged financial services conglomerate and needed cash.
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Job cuts have been ongoing at many conglomerate financial firms including Bank of America which announced last year it would be cutting 30, 000 jobs.
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That would put it at odds with most countries, where mixing business and banking is considered toxic, but would mean new entrants with financial muscle (although the butchest conglomerate of them all, Reliance Industries, said on June 3rd that it would not seek a licence).
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The car company (30%-owned by the Agnellis) is creating an Internet portal, selling everything produced not just by Fiat, but also by the various industrial and financial interests of the Agnellis' separate conglomerate, Ifil.
The conglomerate is strong in both industrial operations and financial.
The company is part of Dubai World, the state conglomerate at the center of Dubai's 2009 financial meltdown.
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Fortunately, the stimulus package passed stateside gave Ener1 new life and the company is producing batteries for everyone from the military for a hybrid Humvee to Japanese conglomerate Itochu as well as Think, in which it took a financial stake.
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As a finance conglomerate with tentacles in everything, GE lobbied for the bailout of the entire financial system in 2008.
UBS involved in financial dealings with Parmalat before the massive fraud that caused the bankruptcy of the Italian food conglomerate was uncovered last December, he has now set off a new round of litigation.
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Adolf Merckle, the founder of a drugs, cement and engineering conglomerate, committed suicide on January 5th after burdening his empire with heavy debts and misguided financial gambles that ultimately cost his family control.
Christie's won't name the seller, a Japanese conglomerate that bought the work at the height of the 1980s art bubble and must now, because of financial pressure, get rid of it.
Christie's won't name the seller, a Japanese industrial conglomerate that bought the work at the height of the 1980s art bubble and must now, because of financial pressure, get rid of it.
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