Noble Group Ltd. lost money in the second quarter and net debt increased as the embattled commodities trader withdraws from some markets in an attempt to conserve cash and reverse a two-year collapse in its shares. The company made a loss of $54.9 million in the three months to June compared with a net profit of…
BEIJING – China is looking to universities and research institutes for an engine to sustain economic growth and drive economic restructuring. On Monday, the State Council published a national plan for progress in science and technology by 2020, listing a set of targets as well as government actions to help meet them. Among the set…
ATLANTA–(BUSINESS WIRE)–BDO Consulting, a division of BDO USA, LLP, one of the nations leading professional services organizations, today announced the appointment of Basil Karampelas as Managing Director in the firms Business Restructuring and Turnaround Services practice. Mr. Karampelas brings more than 25 years of experience in corporate restructuring and turnarounds to his new role, where…
BENGALURU: Logistics firm GoJavas, which has suspended operations amid an impasse in its sale talks with Snapdeal, is considering an organisational overhaul involving layoffs and a restructuring of its business model, according to two people aware of the developments. The GoJavas management is discussing a proposal to switch to a franchisee business model wherein the…
ANZ chief executive, Shayne Elliott, has confirmed that the bank’s restructuring project is a work in progress at the same time as releasing a trading update revealing a three per cent decline in adjusted cash profit of $4.3 billion. The trading update for the nine months to 30 June, 2016, declared that profits before provisions…
. thinkstockphotos.com Some 59 Denver employees of Integra Telecom Holdings Inc. have been laid off as part of a split of the telecom into two businesses. … Read the full article at: http://www.bizjournals.com/denver/news/2016/08/06/telecom-lays-off-denver-workers-in-company.html
I recently received a bit of news that seemed to come like a bolt of lightning straight out of the blue sky: a sentence by the Court of Pesaro, Italy, declared that Benelli motorcycles was insolvent, the first step into bankruptcy. I had to dig into it and double check to believe it for myself.…
August 05, 2016 8:45 a.m. Updated By Ma Jie and Masatsugu HorieBloomberg Takata Corp., the airbag maker behind the biggest automotive recall, said quarterly profit plunged by a third as the supplier drafted restructuring plans in the face of billions of dollars in potential costs related to its defective safety products. Net income fell to…
©Bloomberg Goldman Sachs has said the UKs vote to leave the EU could force it to restructure some of its UK operations, in one of the clearest signs from a major Wall Street institution that is preparing specific measures following the landmark vote. In a US regulatory filing on Thursday, Goldman which employs about 5,500…
By Promit Mukherjee MUMBAI (Reuters) – India’s Suzlon Energy Ltd hopes to exit a process of corporate debt restructuring by March 2017, its chairman said on Thursday, a turnaround for a company that four years ago reeled under heavy debt after an ill-advised overseas expansion. Suzlon’s purchase of German wind energy firm RePower, now…