Category Archives: Restructuring

3M beats estimates as restructuring combats strong dollar – NorthJersey.com

3M beats estimates as restructuring combats strong dollar – Business – NorthJersey.com ‘); $(‘.adwrapper’).css(‘margin’,’0′); if (document.getElementById(“localNewsCountyList”)){ $(“select#localNewsCountyList”).val(“1”); } if (document.getElementById(“difDealsFrame”)){ document.getElementById(“difDealsFrame”).src = “http://my.northjersey.com/apps/deals_widget/dealsparser.php”; } if (document.getElementById(“newincwidget”)){ document.getElementById(“newincwidget”).src = “http://widget.newsinc.com/_fw/northjerseyrecord/toppicks_njrecord_top.html”; } if (document.getElementById(“difJobsiFrame”)){ document.getElementById(“difJobsiFrame”).src = “http://jobs.northjersey.com/clientmodules/featuredj… Read the full article at: http://www.northjersey.com/news/business/3m-beats-estimates-as-restructuring-combats-strong-dollar-1.1499121

3M Beats Estimates as Restructuring Combats Strong Dollar – Bloomberg

3M Co. beat analysts fourth-quarter profit estimates as the maker of Post-it notes and Scotch tape cut costs to fight the effects of a strong U.S. dollar. Earnings fell 8.3 percent to $1.66 a share, including a 14-cent restructuring charge, the St. Paul, Minnesota-based company said Tuesday in a statement. Analysts had expected profit of…

The boss of the world’s biggest advertising company says rival Publicis is ‘having a French Revolution’ – Business Insider

Sir Martin Sorrell, CEO of the worlds biggest advertising holding group by revenues, WPP, thinks rival company Publicis Groupes recent big restructuring was to distract attention from the companys other issues. Speaking to Business Insider at the World Economic Forums Annual Meeting in Davos, Sorrell said the restructure had some fundamental flaws. In December, Publicis…

American Apparel restructuring plan gets court approval – L.A. Biz

Under the plan, the company’s secured lenders will convert $230 million of secured debt into equity, provide $40 million of exit financing, in the form of debt and equity, and provide a $40 million asset-backed loan. The $80 million of incremental liquidity will support American Apparels turnaround plan, and interest expense will decrease by $20…

American Apparel restructuring plan gets court approval – New York Business Journal

Charney and backers, Hagan Capital Group and Silver Creek Capital, had made a $300 million for the company, which was rejected by American Apparels board. The proposal would have brought back Charney, who was fired as CEO in 2014 after allegations of misconduct. In his testimony in bankruptcy court last week, Charney accused company executives…

Wincor Nixdorf revises guidance upwards as restructuring yields rewards.. – Finextra (press release)

Wincor Nixdorf AG saw net sales rise by 14% year on year in the first quarter of the current fiscal year 2015/2016, while operating profit (EBITA) before restructuring expenses increased by 78%. After restructuring expenses EBITA was up by 46%. In absolute terms, net sales generated by the Group totaled 727 million (previous year:…

Toshiba Semiconductor Business Restructure Attracts Interested LED Chip Business Buyers – LEDinside

Toshiba is considering to sell its less profitable semiconductor businesses including its System LSI business to concentrate resources in advanced NAND, flash memory, and nuclear power generators and other coal fire equipment, according to a recent Nikkei report. The report pointed out with the exception of NAND flash operations, Toshiba planned to sell most of…

GE doubles down on restructuring to combat slow growth – Reuters

General Electric Co (GE.N) said on Friday that it would double its 2016 budget for restructuring spending to fight the effects of low oil prices and slow global growth that pummeled its earnings last year. The U.S. conglomerate plans to spend $3.4 billion on restructuring measures this year, double the $1.7 billion it targeted just…

AmEx Profit Falls 38% on Higher Expenses, Restructuring Cost – Bloomberg

American Express Co., the biggest credit-card issuer by purchases, said fourth-quarter profit fell 38 percent as expenses rose and the company took a restructuring charge. The shares slid in extended trading. Net income dropped to $899 million, or 89 cents a share, from $1.45 billion, or $1.39, a year earlier, the New York-based company said…

EIG Provides Update on Proposed Restructuring of Pacific Exploration & Production Corp. – Business Wire (press release)

WASHINGTON–(BUSINESS WIRE)–EIG Pacific Holdings Ltd. (the Offeror), a Cayman Islands limited company and subsidiary of Harbour Energy Ltd. (Harbour Energy), today provided an update regarding its pending tender offers (the Tender Offers) for the outstanding senior notes (the Notes) of Pacific Exploration & Production Corporation (TSX: PRE) (BVC: PREC) (Pacific E&P or the Company). On…