Babcock & Wilcox Enterprises (NYSE:BW) -9.6% premarket after cutting its 2016 earnings guidance and saying it will cut 200 jobs as part of a restructuring of its coal-fired power generation business. BW says its restructuring plan is a proactive measure to prepare for a projected reduction in U.S. coal generation, as it anticipates U.S. coal…
June 28, 2016 08:30 AM Eastern Daylight Time CHARLOTTE, N.C.(BUSINESS WIRE)Babcock & Wilcox Enterprises, Inc. (B&W) (NYSE:BW) today announced actions to proactively restructure its traditional power business in advance of a lower projection for U.S. coal generation and has updated guidance for 2016 to reflect: These changes will allow us to continue to provide outstanding…
TEL AVIV, Israel, June 30, 2016 /PRNewswire/ — Metalink Ltd. (OTCQB: MTLK) today announced that, further to its previously announced plan to voluntary liquidate the Company, it has received notice from one of its principal shareholders (holding, to the Company’s knowledge, approximately 24.9% of the outstanding shares) whereby such shareholder stated, among other things, its…
Puerto Rico has $70 billion in debt. The measure passed by the Senate sets up a fiscal control board for the island, and helps it avoid defaulting on a critical $2 billion debt payment due Friday. Read the full article at: http://www.npr.org/2016/06/30/484129397/senate-passes-bill-to-help-puerto-rico-restructure-debt
While the seismic changes caused by the EU Referendum vote are quite rightly uppermost in retailers minds, the UK Insolvency Service has issued a consultation document reviewing the UK corporate insolvency framework. It is a response to consistent messages from the World Bank which recently put the UK at number 13 in a league table…
Late last year, the Grand Court of the Cayman Islands dismissed a winding up petition presented by the directors of China Shanshui Cement Group on the ground that they had no standing to present it. David Butler, partner at Harneys in the Cayman Islands, considers the options for restructuring in the absence of shareholder support.…
The last few months have seen a flurry of activity from Hogan Lovells in Asia, particularly in Indonesia. Months after ending its association with Hermawan Juniarto, which lasted for more than three years, Hogan Lovells has teamed up with Dewi Negara Fachri & Partners (DNFP). DNFP was established by founding partners Dewi Djarot and Fachri…
JOHANNESBURG Former Congress of South African Trade Unions (Cosatu) head Zwelinzima Vavi says the call by some parts of the African National Congress (ANC), for people to help President Jacob Zuma pay his Nkandla debt, shows that Zuma has become the party and the ANC has become Zuma. Both the ANC in KwaZulu-Natal and the party’s…
Late last year, the Grand Court of the Cayman Islands dismissed a winding up petition presented by the directors of China Shanshui Cement Group on the ground that they had no standing to present it. David Butler, partner at Harneys in the Cayman Islands, considers the options for restructuring in the absence of shareholder support.…
Tony Ayres’ advice to voters is simple. Author Michael Robotham says: “Traditionally, the Labor Party has been a better friend to the Arts than the Coalition … ” Photo: Michele Mossop “I would say that anyone who cares about the future of the arts and screen industry in Australia will not be voting for the…