FRANKFURT, Germany German industrial equipment and technology supplier Siemens AG says net profit fell 5% in the first three months of the year as the company heads into a major restructuring involving the spinoff of its oil, gas and power generation business. Net profit was 1.92 billion euros ($2.15 billion), down from 2.02 billion a…
Oracle Corporationwill shed about 900 employers in its China Development Center in an effort to restructure, 21st Century Business Herald reported. The company announced the decision in a teleconference, saying its a global level business restructuring. The number is equivalent to about 60% of current CDC staff, the report said. Of the 900 employers, more…
| 2 hours ago Lauren Crampsie was promoted to president and will also continue to act as global CMO for the agency. Ogilvy has made major leadership changes for the New York and U.S. teams, including two new roles. Former global CMO Lauren Crampsie was promoted to president of Ogilvys recently combined New York and…
In a bid to scale up its business, the New York-headquartered blockchain company is restructuring its various operations. ConsenSys has consolidated its three wings ConsenSys Ventures, its Tachyon accelerator, and the ConsenSys Labs into a single investment arm, it stated ina May 6 released press release. Discover Barcelona Trading Conference A Top Tier Crypto Trading…
Add to favorites Uniquely positioned to take advantage of the market potential Sungard AS has emerged from its bankruptcy restructuring, with debtors having taken an $800 million haircut and the recovery service specialist provided with $100 million of new liquidity by its creditors and a new CEO. The data infrastructure and disaster recovery companysannouncementthat it…
AUSTIN, Texas, May 06, 2019 (GLOBE NEWSWIRE) — Jones Energy, Inc. (OTC Pink: JONEQ) (Jones Energy or the Company) today announced that the United States Bankruptcy Court for the Southern District of Texas, Houston Division (the Court), confirmed the prepackaged Joint Chapter 11 Plan of Reorganization of Jones Energy, Inc. and its Debtor Affiliates (the…
One of the leading car manufacturers, PSA Group, has chosen Turkey as its pilot country for restructuring. The French automaker has recently merged its Peugeot, Citroen, DS and Opel brands under a single roof for the first time in Turkey. The operation, which started in September 2018, was completed on April 1, 2019, with Opel…
The groups reported net profit came to $3.1 billion while cash earnings came to $3.2 billion, down 22 per cent from the prior corresponding period. Excluding the major remediation costs of $617 million and wealth restructuring expenses of $136 million, cash earnings were down 5 per cent. The banks statutory net profit was down 24…
CTI Foods (CTI or the Company), a leading custom foodservice manufacturer supplying top U.S. restaurant chains and branded food companies, today announced that it has successfully completed its financial restructuring and emerged from Chapter 11. Through the expedited eight-week process, CTI has reduced its debt by more than $400 million and is moving forward with…
Blockchain startup SETL completes corporate restructuring programme Troubled blockchain startup SETL has completed its corporate restructuring programme, the company said in a press release dated May 03. Founded in 2015, SETL is an institutional payment and settlement infrastructure provider which uses blockchain technology. It raised $39 million till date and is backed by Citi, Deloitte,…