Chennai: The National Company Law Tribunal (NCLT), Chennai bench has rejected the debt resolution proposal of Siva Industries, which was cleared by the Committee of Creditors (CoC) led by IDBI Bank. The NCLT has also ordered liquidation of Siva Industries.Siva Industries went under CIRP with admitted claims of Rs 4,863.87 crore from financial creditors, Rs…
Andrew Penn (Telstra) Credit: Telstra Telstra has boosted its profit to$1.9 billion in 2021 as it announces an on-market share buy-back of up to $1.35 billion. For the year ended June 30 2021, the telecommunications giant saw its net profit increase by 3.4 per cent as it plans to return 50 per cent of the…
MINNEAPOLIS–(BUSINESS WIRE)–Apogee Enterprises, Inc. (Nasdaq: APOG) today announced plans to realign and simplify its business structure, bring a stronger focus to serving customers, enable a more competitive cost model, and better position the company for future growth and improved profitability. These actions are the initial steps in executing the companys new enterprise strategy, which include:…
Andrew Penn (Telstra) Credit: Telstra Telstra has boosted its profit to$1.9 billion in 2021 as it announces an on-market share buy-back of up to $1.35 billion. For the year ended June 30 2021, the telecommunications giant saw its net profit increase by 3.4 per cent as it plans to return 50 per cent of the…
Sees free cash flow before M&A at -1.2 to -1.5 bln eur Steel unit swings to adj EBIT of 19 mln euros No decision on future steel unit before spring 2022 Shares down as much as 7.7% FRANKFURT, Aug 11 (Reuters) – Thyssenkrupp (TKAG.DE) on Wednesday flagged a cash gap of up to 1.5 billion…
United Kingdom racing team McLaren has raised funds and sold its Applied business division as part of a s… United Kingdom racing team McLaren has raised funds and sold its Applied business division as part of a strategic restructuring. Latham & Watkins acted on McLarenscirca GBP 447 million refinancing and GBP 550 million equity investment.…
The Viking-inspired livery to be used by Norse Atlantic Airways on its Boeing Dreamliner aircraft. Norse Atlantic Airways Startup Scandinavian airline Norse Atlantic Airways has revealed more details on its much-anticipated launch plan, including its stylish Viking-inspired branding, first destinations and new website. The Norway-based low-cost long-haul airline will seek to fill the shoes of…
CHICAGO–(BUSINESS WIRE)–The Claro Group (Claro) welcomes Bill Fasel as a Managing Director in the firms Corporate Finance & Restructuring Services practice. Mr. Fasel will be located in Claros Chicago office and will leverage the firms complex disputes, investigations and insurance claims expertise to deliver turnaround and restructuring, performance improvement and advisory services to underperforming and…
This article first appeared in The Edge Malaysia Weekly, on August 2, 2021 – August 08, 2021. JOHOR Corp Bhd (JCorp), the state-controlled investment arm of Johor, is in the midst of a large-scale restructuring exercise, which entails a full-scale review of its existing business ventures, sources familiar with the matter tell The Edge. While…
SOURCE/ECONOMY Tencent denies laying off employees in short video business restructuring By Global Times Published: Aug 08, 2021 07:23 PM Douyin (left) and Weishi Photo: IC Chinese technology company Tencent denied market rumors that the company will lay off employees in a claimed business merger of its short video platform Weishi and Tencent Video amid…