Drake and Scull International (DSI) incurred a net loss of AED 498 million ($135.58 million) in the third quarter of the year, largely due to a restructuring effort that has seen it hand over its legacy projects, it was announced on Wednesday. In a statement, DSI attributed the operating law to the final phase of…
Tencent executives have told employees that the companys silo culture, which helped create its hugely successful WeChat product, will need to change to a more collaborative approach if it is to succeed in the future in areas such as AI and cloud computing. The Shenzhen-based company aims to break up in-house fiefdoms and promote more…
Kellogg Company is making two major changes to its North American business as part of a recently announced growth strategy. The Battle Creek-based food maker announced two changes yesterday as part of its Deploy for Growth plan that are designed to ensure it has the right operating model and portfolio to deliver profitable growth in…
BRAMPTON, Ontario–(BUSINESS WIRE)–DATA Communications Management Corp.: HIGHLIGHTS THIRD QUARTER 2018 Revenues increased 6.7% year over year to $74.9 million compared with $70.2 million in the prior year, enhanced by a 4.1% increase in our core DCM business Adjusted EBITDA of $5.2million, compared to $3.3 million in the prior year (See Table 2 and Non-IFRS Measures…
Everstone Group CEO Sameer Sain. A study has shown that Everstone Capital had become top heavy and there were too few junior people to do the leg work. Photo: Abhijit Bhatlekar/Mint Mumbai: Everstone Capital has hired UK-based Kiddy and Partners to assist with the restructuring of its private equity business and the organizations review system,…
Thembinkosi Mthembu worked his way up the factory floor at Nampaks former Mobeni plant before taking over the tissue-making facility and developing it into a multimillion-rand business. Picture: Zanele Zulu/African News Agency (ANA) Leading packaging company Nampak is undergoing a group restructuring project that organised labour fears will result in massive job losses as the…
Canadian plane and train makerBombardier, announced today that it will slash 5,000 jobs in a sweeping corporate restructuring plan over the next 12 to 18 months. The Montreal-based company also announced the sale of what it called a number of non-core assets. The company will sell itsQ Series aircraft program andde Havillandaerospace trademark to a…
by James Fernyhough Optus has reporteda 20 per cent fall in net profit for the first half of the financial year, blaming lower NBN migration charges and workforce restructuring costs. In the six months endedSeptember, Optus reported a net profit of $259 million, down from $325 million in the previous corresponding period. The fall for…
By Jacky Houlie,JH & Co. Law Office & Shlomo Hubscher, JH Consulting Ltd. Israel is often referred to as the Startup Nation, with many technology companies being acquired by foreign multinationals. As such, the transfer pricing aspects of such exits and other restructurings, including implementation thereof, has become very much on the radar of the…
On Nov 6, we issued an updated research report on Pentair plc (PNR – Free Report) . The company will gain from launch of new products, acquisitions and investments in sync with its growth initiatives of advancing pool growth, and accelerating residential and commercial water treatment. Sound Q3 Results Pentair delivered third-quarter 2018 adjusted earnings…