Rolls-Royce said its restructuring efforts begun in February are starting to show results. The companys Power Systems division saw a stand out performance during the first half of the year, according to CEO Warren East, who made the comment during a conference call about the companys earnings. We continued to make good progress in the…
| 7 mins ago Ad agency network MDC Partners called its financial performance for the first half of 2018 poor in an earnings call today but sounded more optimistic about the last six months of the fiscal year. Executives focused on several recent moves to reduce costs and improve efficiency, along with major hires including,…
Video PlayerClose BERLIN, Aug. 2 (Xinhua) — Siemens has published mixed earnings data for the second quarter (Q2) of 2018 on Thursday, shortly after a new round of restructuring was announced at the German industrial corporation. Gross revenue at the DAX-listed company fell by an annual rate of 4 percent to 20.5 billion euros (23.8…
Impala Platinum the worlds second-largest platinum miner is cutting its future production to 520000oz of platinum and slashing the number of its mines to six from 11 with 13000 jobs to go within two years. Implats is the latest mining company to announce a major restructuring shaft closures and job cuts to cope with a…
Implats now employs 40,000 people to produce 750,000oz of platinum a year. Implats has already started the restructuring process and reduced its workforce from 42,300 in 2017. At 520,000oz it will fall below equally troubled Lonmin, which produces about 650,000oz of platinum a year. Lonmin, which is the takeover target of Sibanye-Stillwater, is in the…
LINCOLN, Neb.–(BUSINESS WIRE)–Jul 31, 2018–Nebraska Book Holdings, Inc. (NBC) announced today, July 31, 2018, that it has successfully completed the restructuring of its balance sheet eliminating the substantial majority of its legacy long-term debt. Going forward the company will have a capital structure that will enable growth and profitability. This was accomplished by NBCs major…
Health-focused fast-food chain Sumo Salad is still searching for a buyer after the business went into voluntary administration late last month. The Sumo Group, which boasts a network of 85 franchise stores, called in Ferrier Hodgson partners Morgan Kelly and Peter Gothard as administrators on July 18. The administration process has an approximate timeline of…
DALLAS–(BUSINESS WIRE)–International law firm Dorsey & Whitney LLP announced today that Matthew Matt DeArman has joined the Firms Finance & Restructuring Group in Dallas as a Partner. Mr. DeArmans practice focuses on the representation of agents, lenders and public and private corporate borrowers in a variety of finance transactions and restructuring matters, including in connection…
LINCOLN, Neb.–(BUSINESS WIRE)–Nebraska Book Holdings, Inc. (NBC) announced today, July 31, 2018, that it has successfully completed the restructuring of its balance sheet eliminating the substantial majority of its legacy long-term debt. Going forward the company will have a capital structure that will enable growth and profitability. This was accomplished by NBCs major debt holders…
The City watchdog has confirmed that it has no power to take action against RBS senior managers over their treatment of small firms involved with the banks disgraced Global Restructuring Group. The Financial Conduct Authority last year launched an investigation into the unit of Royal Bank of Scotland set up to help struggling businesses. GRG,…