Lenders of household appliances maker Khaitan Electricals have invoked strategic debt restructuring and has fixed August 17, 2016, as reference date for the exercise. “At the Joint Lenders Forum (JLF) meeting, the lenders have invoked strategic debt restructuring (SDR) in the company and adopted the ‘reference date’ for the purpose as August 17,…
October 31, 2016 | Comments (0) UK crane, access and telehandler rental company Hewden is urgently looking to re-finance around £190 million of debt which matures over the next few months. The company has been working with restructuring experts at Deloitte, with the idea to either refinance the business or sell it. It was acquired…
ANZ will concentrate its resources on institutional banking in Asia with the sale of a portfolio of retail and wealth management assets to Singapore-based DBS. The banks chief executive Shayne Elliott told BlueNotes on video from Hong Kong the move followed an extensive review of ANZs mix of businesses in the region and was part…
A long-awaited report into a unit of Royal Bank of Scotland has found no firm evidence that it deliberately pushed small businesses into bankruptcy for its own profit. An independent report ordered by the Financial Conduct Authority has scrutinised dozens of allegations about RBSs now-defunct Global Restructuring Group. But the most serious of these, that…
With Samsung Electronics Vice Chairman Lee Jae-yong joining the board of directors, the country’s largest conglomerate is expected to accelerate the reform of its corporate governance structure, which the market expects will not only help him inherit managerial control but also enhance shareholder value. Founded by Lee Byung-chul in 1938 as a trading company, Samsung…
Do you find it difficult to manage your expenses and struggle to save or repay debt every month? Countless UAE residents are struggling with debt that has spiralled out of their control. With many owing huge outstanding amounts on multiple credit cards and unsecured loans, the road to being debt-free can seem like…
With Samsung Electronics Vice Chairman Lee Jae-yong joining the board of directors, the country’s largest conglomerate is expected to accelerate the reform of its corporate governance structure, which the market expects will not only help him inherit managerial control but also enhance shareholder value. Founded by Lee Byung-chul in 1938 as a trading company, Samsung…
Published: 19:29 +11:00, 28 October 2016 | Updated: 20:44 +11:00, 28 October 2016 Hefty charges saw Royal Bank of Scotland swing to a £469million third quarter loss but its shares pushed higher on signs of improvement in its ‘core businesses.’ The big loss compares with a profit of £940million in the same period last year,…
Image source: Getty Images. Continue Reading Below While MSA Safety (NYSE: MSA) continues to face challenges in several of its end markets, it is doing an admirable job battling against these issues. That was the case again during the third quarter where the headwinds facing the company kept a lid on revenue growth. However, its…
Bank of Communications third-quarter net profit rose, as a 2015 restructuring spurred its business units to earn more fees and commissions, allowing the lender to reduce its reliance on interest rate spreads for income. Net profit rose 1.4 per cent to 15 billion yuan in the three months ended September, from last years 14.8 billion…