Deutsche Bank plans a significant capital hike alongside the flotation of its asset management holding and further restructuring from asset disposals, Germany’s biggest lender said on Sunday. The 8 billion ($8.5 billion) capital raise will be launched on March 21, the bank said in a statement, and undertaken via the issuance of new shares with…
U.S. high-end department store chain Neiman Marcus has hired investment bank Lazard Ltd. to explore ways to bolster its balance sheet as it seeks relief from a $4.9 billion debt pile, people familiar with the matter said on Friday. Neiman Marcus is in no immediate risk of bankruptcy, the sources said. However, the move makes…
The SK Group is speeding up restructurings of its subsidiaries. Through the choice and focus strategy, the group is decisively giving up business items overlapped among subsidiaries or poorly performing businesses while developing new business items that can be used as future growth engines. Analysts say that Deep Change emphasized by SK Group chairman Chey…
[SINGAPORE] RHB Bank Bhd’s Asian head of institutional equities at its securities unit Lena Yong left last week as the Malaysian lender restructured the business. “Yes, there was a restructuring and I was restructured out with the regional roles brought back to Malaysia,” said Singapore-based Yong in a telephone interview. “This is the sad state…
by Andrea Tan and Elffie Chew March 1, 2017, 9:14 PM EST March 2, 2017, 12:17 AM EST RHB Bank Bhd.s Asian head of institutional equities at its securities unit Lena Yong left last week as the Malaysian lender restructured the business. Yes, there was a restructuring and I was restructured out with the regional…
HAMISH MCNEILLY/STUFF.CO.NZ Cadbury workers, Teresa Gooch, left, and Donna Bauma, talk outside the Dunedin factory. OPINION: There has been widespread outrage expressed following the announcement by Cadbury that its landmark Dunedin factory will be closing next year. Its intention is to shift production to Australia with the likely result being that over 350 jobs will…
Theres a kind of harried, yet familiar energy at the downtown Manhattan offices of Refinery29. Young people some sporting small tattoos, piercings, hats or a combination of all three stream past the neon-green lighted sign at the entryway that bears the companys name, and into the open-plan office thats too small for the growing staff…
K.T. Jagannathan February 28, 2017 00:00 IST Updated: February 28, 2017 03:55 IST “; var device = “”; for ( var type in WFClientTypeDef) { if (window.matchMedia(WFClientTypeDef[type]).matches) { switch (type) { case “xlarge”: device = ‘desktop’; break; case “large”: device = ‘desktop’; break; case “medium”: device = ‘tab’; break; case “small”: device = ‘mobile’; break;…
LONDON (AP) Barclays Group says it will complete its restructuring six months earlier than planned as it sheds risky assets and focuses on consumer, corporate and investment banking in New York and London. Barclays now plans to close its non-core unit at the end of June after reducing its stake in Barclays Africa to 12.2…
Soaring household debt and housing prices could make it “dangerous” to cut interest rates, the head of the Reserve Bank of Australia says. Dr Philip Lowe has told a federal parliamentary economics committee that while a deeper cut to the official cash rate could deliver a short-term boost to jobs and inflation but also push…