A Justice Department official asked a federal judge to withhold payments to McKinsey & Co. for its work advising a bankrupt Colorado coal miner, adding another voice to a chorus of criticism faulting how the firm discloses potential conflicts of interest. In a Friday filing with the U.S. Bankruptcy Court in Houston, Acting U.S. Trustee…
Sat, Dec 15, 2018 – 7:00 AM [NEW YORK] Embattled commodity trader Noble Group is on track to complete its mammoth restructuring deal after a Bermuda court approved an officer to carry out the plan, using a local kind of insolvency process. In a brief court hearing on Friday, the judge called the company insolvent…
Axa Investment Managers has shaken up its top management teams after completing a widespread restructuring of its businesses in Europe. Axa first laid out its restructuring plans in June, saying at the time that the goal was sharpening its operating model and driving future growth and competitiveness. Savings of 100m would come from a new…
GE stock rose nearly 12% as a longtime bear raised rating on the stock, signaling that, as GE moved to revamp its digital business, the worst may be behind the troubled conglomerate. Since July 2016, GEs stock has lost 78% of its value, while the S&P 500 Index has risen 23%. Years of building up…
Adherium Limited (ASX: ADR) operates in the business segment of digital health technology providing technologies for medication use and remote patient management in chronic diseases. The companys Hailie solution has proven to be very effective and improve medication adherence and health results for patients who are suffering from various chronic respiratory diseases. The company has…
MINNEAPOLIS, Dec. 12, 2018 /PRNewswire/ —Communications Systems, Inc. (NASDAQ: JCS) (“CSI” or the “Company”), a global provider of connectivity infrastructure and services for deployments of broadband networks, today announced it will initiate a series of restructuring measures by year end that will materially reduce expense levels in its corporate operations and in its Suttle business.…
PV inverter supplier SMA Solar is to lay off 425 full-time staff and discontinue China as a location as part of a restructuring plan announced in September in order to return the company to profitability quickly. The planned restructuring measures, due to be implemented from January 2019, include the sale of the Chinese companies to…
WPP will be cutting 3,500 of its 134,000 workforceas part of a major restructure. According to media reports, the ad giant will also shut 80 offices globally and merge nearly 100. Though, to make up for the 3,500 job cuts, WPP has promised it will hire 1,000 more creatives in the coming months. Speaking on…
The restructuring of a fast-food operator Famous Brands UK-based Gourmet Burger Kitchen (GBK) passed an important milestone when its creditors approved the groups turnaround plan. Famous Brands bought GBK for 120m in 2016, but its poor performance has led it to write down R874m. When it bought GBK and its 97 stores from Nandos, the…
NEW YORK & LONDON–(BUSINESS WIRE)–WPP (NYSE: WPP) today announces the results of its strategic review, setting out a new plan to return the business to growth. The strategy reflects a new vision for WPP as a leader in creativity and technology. It incorporates a simpler, improved offer designed to capture the opportunities of a changing…