(PRESS RELEASE JOHANNESBURG) AngloGold Ashanti has made the difficult decision to begin a consultation process with employees in terms of section 189 and 189A of the Labour Relations Act, with respect to restructuring certain of its South African business units. This follows a review of the options to safely turn around the performance of these…
Leon Mok and Bryan Hughes of Pitcher Partners.Picture: supplied WA businesses are showing more resiliency and banks more leniency as the State battles the worst trading conditions in recent memory, according to insolvency veteran Bryan Hughes. Mr Hughes was yesterday named to a new role as executive chairman of Pitcher Partners in Perth as part…
By Tom Hals WILMINGTON, Del., June 27 (Reuters) – Lawyers for people injured by exploding Takata Corp air bags told a U.S. bankruptcy court judge on Tuesday that the company’s restructuring plan is being skewed to benefit automakers over victims. TK Holdings Inc, the U.S. business of Takata, filed for Chapter 11 bankruptcy on Sunday…
OSLO Shipping magnate John Fredriksen is trying to buy more oil tankers despite a glut of vessels afloat, a looming $10 billion in debt and two failed takeover attempts that have left his empire reeling. Continue Reading Below The self-made billionaire, who also is a major player in offshore oil drilling and salmon farming, says…
Lenders to Jaiprakash Associates Ltd., led by ICICI Bank, have given an in-principle approval to a debt restructuring plan, two people close to the development told BloombergQuint requesting anonymity. The restructuring would involve division of the nearly Rs 30,000-crore debt into three parts. The first portion of about Rs 10,000-crore debt would be moved off…
Sears Canada said on Monday it had received a notice from Nasdaq to delist the company’s shares. The trading would be suspended on July 3, 2017, unless the company requests an appeal to delist shares, Sears Canada said, adding that it will not appeal the decision. The Toronto-based retailer, which has been struggling with years…
Pitcher Partners managing director Leon Mok and executive chairman Bryan Hughes.Picture: Supplied Pitcher Partners has appointed executive director and taxation specialist Leon Mok as managing director of the accounting, audit and advisory firms growing Perth practice. Former managing director Bryan Hughes will step up to a new executive chairman role from July 1, where he…
By Julia Love | nSAN FRANCISCO Googles self-professed mission is to organize the worlds information. But a company known for engineering excellence is still trying to solve the very human problem of how to organize itself. Nearly two years ago, Google co-founder Larry Page announced the tech giant would be remade as Alphabet, a holding…
The administrator of the Ten Network has declared he expects the ailing television station to be saved. Key points: Creditors met to discuss options for restructure, voted for committee including Lachlan Murdoch, WIN TV’s Bruce Gordon and James Packer Administrator Mark Korda says cash-flow is positive and ratings are good, so network should be…
He said that earlier, the group had allowed all of its subsidiaries to manage their own businesses, but now the company had |restructured so that all opera-tions are managed by six group executives. Under the new system, there will be six business units. The unit overseen by the chief operating officer will be responsible for…