SEOUL, June 29 (Xinhua) — Confidence among South Korean businesses stayed low this month on worries about the ongoing restructuring in shipbuilders and shipping firms, central bank data showed on Wednesday. The business sentiment index (BSI) for manufacturers stood at 71 in June, unchanged from the previous month, according to the Bank of Korea (BOK).…
Updated June 28, 2016 8:32 a.m. ET Dow Chemical Co. DOW -2.43 % on Tuesday said it planned to cut 2,500 jobs globally, or about 4% of its workforce, as it restructures Dow Corning Corp., which it now owns completely. Earlier this month, Corning Inc. had exchanged shares of silicone company Dow Corning for cash…
CHARLOTTE, N.C.–(BUSINESS WIRE)–Babcock & Wilcox Enterprises, Inc. (B&W) (NYSE:BW) today announced actions to proactively restructure its traditional power business in advance of a lower projection for U.S. coal generation and has updated guidance for 2016 to reflect: The net impact of the restructuring and decreased coal-related revenue in the second half of 2016. A charge…
KUALA LUMPUR: RHB Banking Group completed its corporate restructuring exercise when RHB Bank Bhd assumed the listing status of RHB Capital Bhd on the main market of Bursa Malaysia today. At the opening bell, its shares opened at RM4.64, a discount of five sen against the reference price of RM4.69, with 4,100 shares changing hands. RHB Cap was…
Cetin Sekercioglu President, Asia Millennium Hotels and Resorts At the heart of business restructuring lies the notion of discontinuous thinking identifying and abandoning the outdated rules and fundamental assumptions that underlie current business operations. Effective communication throughout the transition is key to a leaders success in continuously addressing employees concerns while also acting as a…
Toshiba Corp. plans to keep its personal computer business for the time being, its new president said Thursday, in a shift from the initial plan to integrate it with other partners. After a broad restructuring triggered by its accounting scandal last year, Toshiba, the maker of Dynabook brand PCs, is tilting toward keeping the PC…
Introduction Creditor protection Winding-up process Timescale Future changes Introduction After months of consultation and debate, the Companies (Winding Up and Miscellaneous Provisions) (Amendment) Ordinance 2016 has been published, although an enforcement date is yet to be set. This update focuses on the major changes to creditor protection and the winding-up process brought about by the…
(ATTN: UPDATES with photo) SEJONG, June 23 (Yonhap) — South Korea’s finance minister said Thursday that the government will make all-out efforts to minimize the possible fallout in the local economy from tough corporate restructuring in the shipbuilding sector. “The government will map out plans to support smooth corporate restructuring and business reorganization, and to…
BOULOGNE-BILLANCOURT, France–(BUSINESS WIRE)–Regulatory News: As announced on 19 May 2016, SoLocal Group (Paris:LOCAL) is actively working on a plan to drastically reduce its financial debt. The company has solicited the appointment of a mandataire ad hoc to assist the company in the discussions it will have in this context. Maître Frédéric Abitbol has been appointed…