Shareholders at Independent News & Media (INM) have approved a capital restructuring that should pave the way for a resumption of dividends, after a stormy EGM in the Alexander hotel in Dublin. INM announced to the stock exchange, about two hours after the meeting closed on Monday afternoon, that two motions enabling a capital reduction…
NEW DELHI: The potential sale of Tata Steel UK’s Speciality Steel business to the Liberty House Group will help the embattled giant improve operational performance, Moody’s Investor Service said today. Last month, Tata Steel UK Holdings Ltd (TSUKH, a wholly- owned subsidiary of Tata Steel UK, announced that it had signed a letter of intent…
Treasurer Tom Koutsantonis SOUTH Australian businesses have saved more than $160 million under tax cuts delivered in last years State Budget which make it easier for them to restructure, modelling shows. Treasurer Tom Koutsanotnis has released State Government data showing 35 businesses operating in SA, including the locally-headquartered Cheap As Chips, have taken advantage of…
Get the Pulse of the Market with StreetInsider.com’s Pulse Picks. Get your Free Trial here. FuelCell Energy, Inc. (Nasdaq: FCEL) announced a business restructuring to reduce costs and align production levels with current levels of demand in a manner that is consistent with the Companys long-term strategic plan. The Company is reducing materials spend as…
Kesoram Industries’ restructuring programme, which began in June 2014, has finally started paying off for the company, as it was able to pull out from the red during the first half of the current fiscal year. The restructuring agenda mainly centred around the tyre business which saw an over-capacity production resulting…
Rolls-Royce has today announced plans to accelerate the transformation of its Marine business as a result of continuing weakness in the maritime market. Rolls-Royces Marine business supplies a range of technology and services to customers operating merchant, offshore and naval vessels. Planned measures include a further simplification of the structure of the business, with a…
Redundancies will be unavoidable at UTV Ireland following TV3 Groups completion of its deal to buy the channel, the broadcaster said. TV3 has advertised 40 open vacancies and said it hoped many of them would be filled by current UTV Ireland employees. UTV Ireland employs 61 permanent staff, meaning some job losses will occur. The…
GoPro is restructuring and cutting around 15 percent of jobs in an effort to improve its struggling business. The latest job cuts, around 200 positions, follow a cut of 7 percent of GoPros workforce back in January, and they include the closure of GoPros entertainment division. GoPro president Tony Bates, who was previously Skype CEO…
The Yomiuri ShimbunThe government and ruling parties plan to revise the tax system in a bid to provide a boost to the business restructuring of Japanese companies, The Yomiuri Shimbun has learned. Under the current tax system, when a company separates its business divisions or subsidiaries and makes them fully independent, corporate income tax and…
Daily deals provider Groupon Inc. GRPN continues to exit international markets as a part of its restructuring plans. Fave platform developer KFit Group which acquired Groupon Indonesia in August recently acquired Groupon Malaysia. However, financial terms of the transaction were not disclosed. Last September, Groupon announced the restructuring plan under which it not only started…