WALLDORF, Germany (Reuters) – Business software company SAP said on Tuesday it would undertake a company-wide restructuring to accelerate its business transformation, after missing its revenue and profits guidance in 2018. FILE PHOTO: The logo of German software group SAP is pictured at its headquarters in Walldorf, Germany, May 12, 2016. REUTERS/Ralph Orlowski/File Photo SAP,…
Employees of Pacific Gas & Electric (PG&E) mark gas lines in the aftermath of the Camp Fire in Paradise, California, U.S., November 14, 2018.REUTERS/Terray Sylvester California utility owner PG&E is preparing to name a restructuring chief as it finalizes preparations for a bankruptcy filing expected to come as soon as early Tuesday morning. PG&E plans…
Up to 9,000 jobs are at risk as part of a restructuring programme announced by British supermarket giant Tesco on Monday. “Overall, we estimate that up to 9,000 Tesco colleague roles could be impacted, however, our expectation is that up to half of these colleagues could be redeployed to other customer-facing roles,” the supermarket…
Boutique investment bank PJ Solomon is starting to push the boundaries of the word boutique, at least in terms of its size. The private U.S. advisory firm has been rapidly adding headcount after entering an agreement with Natixis in 2016 that made the French investment bank a majority owner. Nearly three years after inking the…
Business News of Saturday, 26 January 2019 Source: 3news.com Felix Addo The Bank of Ghana (BoG) has appointed Felix E. Addo as an Advisor for the National Investment Bank (NIB) to help improve the banks affairs. Mr. Addos appointment is pursuant to Section 101 (1) of the Banks and Specialised Deposit-Taking Institutions Act of 2016…
How are businesses in the U.K. faring as Brexit looms? Not well, if a boom in insolvency and restructuring advice and the level of unpaid tax bills are any guide. Members of the trade body R3, which represents restructuring advisors, are anecdotally reporting increasing demand for help and advice from businesses and individuals, according to…
IKEA US President Lars Petersson is set to retire at the end of August 2019. Javier Quiones, the retail manager of the chains UK and Ireland divisions, will take his place. Petersson worked at IKEA for 36 years and will remain with the company through the summer as a senior advisor. IKEA US President Lars…
When is BTs earnings date? BT Group will report third quarter (Q3) results on Thursday 31 January. This will cover the three months to the end of December 2018. Who is BT Groups new chief executive Philip Jansen? The results mark the end of Gavin Pattersons two year tenure as CEO of BT as he…
Kerala Governor P Sathasivam Friday came down on the Union government for “penalising” the state for its achievements in various fields and sought a restructuring of Centre-state relations. Delivering his customary policy address in the state Assembly marking the beginning of its 14th session, he said the restructuring should be in such a way…
The struggling clothing retailer New Look may be forced to put itself up for sale in order to complete a rescue refinance. New Look, which has 500 stores, will hand bondholders up to 92% of the company in return for reducing its 1.35bn debt pile to about 500m. The company closed 85 stores last year…