Hedge funds have started to pull some of their business from Deutsche Bank, setting up a potential showdown with German authorities over the future of the countrys largest lender. As its shares fell sharply in New York trading, Deutsche was forced to issue a statement emphasising its strong financial position. European regulators and government officials…
BERLIN (AP) German lender Commerzbank says it expects to cut a net 7,300 full time jobs as part of a restructuring to concentrate on its core businesses. The bank said Thursday that some business activities would be discontinued which, combined with the digitalization and automation of some workflows, would amount to the loss of 9,600…
Commerzbank is to cut nearly 10,000 jobs and suspend its dividend as part of a wide-ranging restructuring plan. Germanys second biggest lender after Deutsche Bank said on Thursday it expected restructuring costs of 1.1bn (£948m) as it combined business operations and cut costs to offset the impact of low loan demand and negative European Central…
New Delhi: Draft rules for various aspects of the infrastructure and ecosystem required to manage insolvencies will be ready soon and shared in the public domain to seek comments, an official at the corporate affairs ministry said. The government set up four working groups to look at various aspects of this and they are expected…
The total number of corporate insolvencies to the end of Quarter 3 2016 have totalled 765, according to the latest analysis from Deloitte. This represents a 3% increase on the same period in 2015 and is a reversal of the decreases seen in the first half of 2016. The total number of insolvencies…
BERLIN (AP) ” German lender Commerzbank says it expects to cut a net 7,300 full time jobs as part of a restructuring to concentrate on its core businesses. The bank said Thursday that some business activities would be discontinued which, combined with the digitalization and automation of some workflows, would amount to the loss of…
BERLIN (AP) German lender Commerzbank says it expects to cut a net 7,300 full time jobs as part of a restructuring to concentrate on its core businesses. The bank said Thursday that some business activities would be discontinued which, combined with the digitalization and automation of some workflows, would amount to the loss of 9,600…
The owner of the Daily Mail is considering a string of asset sales and potential restructuring options, after more than axing 400 jobs to protect its profitability. Daily Mail & General Trust (DMGT), which is listed on the stock exchange but controlled by the Harmsworth dynasty led by Lord Rothermere, said it had almost completed the…
By Maiya Keidan | LONDON/BENGALURU, Sept 29 Johnston Press shareholder Crystal Amber Fund Ltd can help management avoid a poor debt restructuring deal, the hedge fund’s chief executive officer told Reuters. “We have a good track record of assisting companies,” Richard Bernstein told Reuters on Tuesday, ahead of London-listed activist manager Crystal Amber disclosing it…
By Maiya Keidan | LONDON/BENGALURU LONDON/BENGALURU Johnston Press (JPR.L) shareholder Crystal Amber Fund Ltd CRS.L can help management avoid a poor debt restructuring deal, the hedge fund’s chief executive officer told Reuters. “We have a good track record of assisting companies,” Richard Bernstein told Reuters on Tuesday, ahead of London-listed activist manager Crystal Amber disclosing…