Ericsson shares fell 4 per cent on Thursday after the Swedish telecoms equipment maker warned that restructuring a troubled division would cost about $850m. The company said that operating profit in the fourth quarter would be hurt by SKr6.1bn ($700m) in provisions in its lossmaking business support systems unit. Restructuring the unit which provides digital…
Prachi Singh | Thursday, 10 January 2019 Spanish luxury brand Delpozo, part of the perfumes group Perfumes y Diseo, has terminated 20 employees as a part of its restructuring process. The company initiated several measures last year including moving a part of its production to Italy and appointment of German designer Lutz Huelle as the…
SUMMIT, N.J.–(BUSINESS WIRE)–Celgene Corporation (NASDAQ: CELG) today provides a business update, including confirmation that the company achieved its guidance for full-year 2018; its financial guidance for 2019; and reaffirmation of its expected 2020 financial targets. Based on a preliminary review of its results for the fourth-quarter ended December 31, 2018, Celgene achieved guidance for the…
Reported Q3 revenues of $928.4 million, down 8.0% compared to prior year; constant currency decline1 of 5.9% Q3 2018 GAAP EPS of $0.13 vs. $0.39 in Q3 2017. Q3 2018 Non-GAAP EPS of $0.38 compared with Non-GAAP EPS of $0.70 in Q3 2017 The Company updated 2018 guidance and now anticipates 2018 Non-GAAP adjusted EPS…
Getty Images DXC Technology yesterday announced its acquisition of Luxoft, a global-scale digital innovator with world-class digital talent. I think this is an interesting acquisition, not only from a services industry perspective but also from the perspective of benefits to enterprise customers undertaking digital transformation. What The Acquisition Signals For The Services Industry From an…
ISTANBUL Turkeys Football Federation (TFF) chairman Yldrm Demirren has described a plan aimed at restructuring the countrys football clubs debts, estimated to be some 10 billion Turkish Liras, as a milestone. The deal the TFF has struck with the Turkish Banks Association [TBB] will strengthen the clubs financial and administrative structures and represents a strong…
The Greater Williamsburg Chamber and Tourism Alliance is switching things up a bit. When Senate Bill 942 created the Tourism Council under the authority of the alliance in July, there was a chance to do some housekeeping to make the alliance run a little more smoothly, said Jeanne Zeidler, the chairwoman of the alliances board…
Viet Nam News The directive said that the operation of restructured SOEs improved considerably and contributed to stabilising the macroeconomy, citing that 147 were privatised in the period from 2016 to November 2018 and nearly VN155 trillion (US$6.74 billion) in State capital collected from divestments out of none-core businesses in the period. However,…
CHEMICAL Company of Malaysia Bhd (CCM) has emerged as a more nimble entity barely a year after its demerger with its former largest earnings contributor and 73.4%-owned subsidiary, CCM Duopharma Biotech Bhd (CCMD), which also continues to do well. CCMs net profit for the nine months ended Sept 30 (9MFY2018), was 25% lower year on…
A critic of Royal Bank of Scotlands disgraced restructuring unit has spent 20,000 on a billboard berating the high street bank as part of efforts to reinstate an investigation into wrongdoing at the lender. Neil Mitchell, a Scottish businessman, has paid four months up front on a 5,000 a month billboard on the A23 in…