(Adds banking index, analyst quote, details, background) By Ebru Tuncay ISTANBUL, Sept 19 (Reuters) – Turkeys banks agreed to help businesses that are struggling to pay off debt, a move that sent shares of lenders sharply higher on Wednesday as investors bet it could ease bad loans. Turkeys banks face a potential deluge of bad…
Floating production and subsea specialist Crondall Energy has made two management appointments following a restructuring of the business. Crondall split its consulting and technology businesses last year. Anna-Louise Peters has been made the new managing director of the consultancy division, having been promoted from finance director. Her predecessor Duncan Peace, who set up Crondall Energy…
Good morning, this is Eleanor Ainge Roy bringing you the main stories and must-reads on Thursday 10 January. Top stories The director of the collapsed flight booking service Bestjet has told a meeting of the companys creditors he was forced to put the company into voluntary administration after he did not receive a promised $3.2m…
FRANKFURT The headwinds buffeting the global auto industry made themselves felt in Europe on Thursday as mass-market carmaker Ford and luxury-focused Jaguar Land Rover announced sweeping restructurings that will cost thousands of jobs. Ford Motor Co. said it will drop an unspecified number of jobs in Europe as it seeks to make its business there…
Medical debt is part of the terrible legacy of asbestos exposure in America. Cancer therapies are expensive for all patients in the U.S. The average cost of a major chest surgery is about $40,000, and eight weeks of chemotherapy may cost up to $30,000. These medical bills often come at the same time the patient…
For financial goals that are about three years away, investing in debt funds help in generating tax effective returns. Compared with a net inflow of Rs 1.42 lakh crore in November 2018, mutual funds registered a net outflow of Rs 1.36 lakh crore in December 2018. While the equity asset base continues to be robust,…
Debt: Why more people are pressing the bankruptcy button By Kevin Peachey Personal finance reporter 20 January 2017 Image copyright Thinkstock A hug, a dance and a song is hardly the reaction you would expect from someone just about to be declared bankrupt. The threat of losing your home, a year of financial restrictions, three…
STOCKHOLM — Ericssons (NASDAQ: ERIC) focus on simplifying and stabilizing the business has during the three first quarters of 2018 resulted in stronger gross margins and a stabilizing topline. Focus has been on addressing underperforming areas while creating a strong platform for future growth. There has been solid progress in most portfolio areas. In…
Ericsson shares fell 4 per cent on Thursday after the Swedish telecoms equipment maker warned that restructuring a troubled division would cost about $850m. The company said that operating profit in the fourth quarter would be hurt by SKr6.1bn ($700m) in provisions in its lossmaking business support systems unit. Restructuring the unit which provides digital…
BERLIN Ford Motor Co. F -0.41% is launching an overhaul of its loss-making European business that is expected to include thousands of job cuts, plant closures and the scrapping of low-profit models amid a storm of bad news for global car makers. The move is part of a broad cost-cutting effort Ford Chief Executive Jim…