Korean companies such as Kumho Tire, STX Offshore & Shipbuilding and GM Korea have wrapped up restructuring to walk the road to recovery. Unlike in the past, when restructuring was mostly about large-scale layoffs, these companies showed that labor and management could work together to create a new framework for corporate restructuring. Here is Lee…
FILE PHOTO: A general view of the lobby outside of the Carlyle Group offices in Washington Thomson Reuters By Sumeet Chatterjee and Kane Wu HONG KONG (Reuters) – Carlyle Group is set to close its biggest-ever Asia private equity fund at $6.5 billion, people with direct knowledge of matter said, in a deal that adds…
FILE PHOTO: A general view of the lobby outside of the Carlyle Group offices in Washington Thomson Reuters By Sumeet Chatterjee and Kane Wu HONG KONG (Reuters) – Carlyle Group is set to close its biggest-ever Asia private equity fund at $6.5 billion, people with direct knowledge of matter said, in a deal that adds…
Troubled asset manager Blue Sky has withdrawn profit guidance and flagged changes to its board. Shares fell by as much as 10% in morning trade. The company said it will provide additional information on its assets at half-year and full-year reporting intervals. Asset manager Blue Sky Alternative Investments has notified the market that its withdrawing…
Australian banks have faced a string of scandals in financial advice, alongside weak returns from their wealth businesses. ANZ and Commonwealth Bank are also selling out of wealth management. The royal commission into misconduct in financial services last month exposed serious flaws in advice, but NAB chief executive Andrew Thorburn on Thursday said the sale of…
National Australia Bank will divest its wealth arm MLC, as its ambitious plan to restructure its workforce had a big impact on its half-year results, with cash profit down 16 per cent to $2.76 billion for the half-year due to a restructuring charge. NAB chief executive Andrew Thorburn said it intends pursue the sale of MLC –…
Neo-lender Wisr Limited saw a 42% growth in its origination of personal loans in the latest financial quarter. This was the companys largest quarter in loan originations since Wisr, formerly known as DirectMoney, began in 2014. Loan originations have continued to grow over the financial year, growing by 20% in the first quarter and by…
House of Fraser is to close stores, potentially putting hundreds of jobs at risk, as part of a formal restructuring deal under which the Chinese owner of Hamleys will take control of the ailing department store chain. C.banner is buying a 51% stake in House of Fraser from its current owner Nanjing Cenbest, which will…
May 1 (Reuters) – Gibson Brands Inc: * GIBSON BRANDS REACHES RESTRUCTURING SUPPORT AGREEMENT TO REORGANIZE AROUND CORE BUSINESSES * GIBSON BRANDS INC – TRANSACTIONS TO BE EFFECTUATED THROUGH PRE-NEGOTIATED CHAPTER 11 FILINGS * GIBSON BRANDS INC – SECURED $135 MILLION IN DEBTOR IN POSSESSION FINANCING * GIBSON BRANDS – REACHED RESTRUCTURING SUPPORT AGREEMENT WITH…
May 1 (Reuters) – Gibson Brands Inc: * GIBSON BRANDS REACHES RESTRUCTURING SUPPORT AGREEMENT TO REORGANIZE AROUND CORE BUSINESSES * GIBSON BRANDS INC – TRANSACTIONS TO BE EFFECTUATED THROUGH PRE-NEGOTIATED CHAPTER 11 FILINGS * GIBSON BRANDS INC – SECURED $135 MILLION IN DEBTOR IN POSSESSION FINANCING * GIBSON BRANDS – REACHED RESTRUCTURING SUPPORT AGREEMENT WITH…