UniCredit is cutting 14,000 jobs and raising 13 billion (£11 billion) in a record share sale as part of a plan to streamline its business and restructure its balance sheet.The move comes at a pivotal moment for the Italian banking sector, which is weighed down with bad debt and low profitability and buffeted by political…
Independent News and Media has denied that its restructuring of its pension arrangements which will reduce the entitlements of staff is intended to pay a dividend to shareholders. Two weeks ago, the company informed the trustees of the INM defined benefit pension schemes that it was ceasing contributions to the schemes – resulting in an…
Independent News and Media has denied that its restructuring of its pension arrangements which will reduce the entitlements of staff is intended to pay a dividend to shareholders. Two weeks ago, the company informed the trustees of the INM defined benefit pension schemes that it was ceasing contributions to the schemes – resulting in an…
Models present creations from the J. Crew Spring/Summer 2014 collection during New York Fashion Week. Keith Bedford/Reuters U.S. apparel retailer J. Crew Group Inc is taking steps to negotiate with its creditors about cutting the value of its approximately $2 billion debt load, as its struggles with falling sales, people familiar with the matter said…
Michael Bruno, Washington Triumph Group continues to sell business units as it tries to turn-around its finances, this time with a deal to sell three MRO units to The Gores Group. Triumph said Dec. 7 it is selling Triumph Air Repair, the Auxiliary Power Unit (APU) Overhaul Operations of Triumph Aviation Services Asia, and Triumph…
PITTSBURGH–(BUSINESS WIRE)–PPG (NYSE:PPG) announced today that its board of directors approved significant and broad restructuring actions to reduce its global cost structure. The actions are focused on certain regions and end-use markets where business conditions are weakest, and they are targeting structural reductions in operating, functional and administrative costs. Because of continued slow overall growth…
Marvell’s New Management: What’s in Store for Investors? PART 6 OF 12 By Paige Tanner | Dec 8, 2016 1:39 pm EST Marvells Mobile and Wireless segment Marvell Technology Groups (MRVL) Mobile and Wireless segment completes its cycle of storing, moving, and accessing data. This segment has been reporting strong declines after fiscal 4Q16 because…
Ericssons cost reduction plan aimed at saving the company more than $1.05 billion in expenses by year-end 2017 is progressing ahead of schedule. While this means that no further layoffs are planned for the companys workers in Sweden, it will result in higher restructuring costs in 2016. Ericsson said that total restructuring costs for 2016…
Dec 8 Wave Entertainment Pcl * Restructuring transaction will be completed by 2016 with no changes in management and operation * Approved education business restructuring via sale of efficient english services ltd shares held by co to unit Source text for Eikon: Further company coverage: ‘); $(‘.second-article-divide’).append($(‘.slider.slider-module’)); $(‘.third-article-divide’).append(‘ Also In Technology, Media and Telecommunications ‘);…
A pump jack is seen at sunrise near Bakersfield Thomson Reuters By Tom Hals and Tracy Rucinski (Reuters) – After two years of hunkering down, struggling U.S. oilfield service providers are preparing for an expected oil-price recovery in an unexpected way: filing for bankruptcy. Companies that drill wells, haul water and provide other services to…