After seven years of restructuring that involved cutting thousands of jobs and bank branches, HSBC has turned itself around with profits rising more than 140 percent over the last year. But the job of strengthening the bank is not over, Chairman Mark Tucker said Wednesday, as the ever-changing global environment calls for a more agile…
The Treasury committee has published the full unredacted report into Royal Bank of Scotlands disgraceful treatment of struggling small businesses that came to it for financial assistance in the wake of the banking crisis. The influential group of MPs, chaired by Nicky Morgan, released the report after a long-running stand-off with City watchdog the Financial…
WASHINGTON, Feb. 20, 2018 (GLOBE NEWSWIRE) — FTI Consulting, Inc. (NYSE:FCN) today announced the appointment of Keith McGregor as a Senior Managing Director in the Corporate Finance & Restructuring segment, continuing to deepen the firms global company-side restructuring capabilities. Mr. McGregor, who joins FTI Consulting from EY, will be based in New York. In his…
Retailer Steinhoff’s local unit has secured a new $300 million loan from its existing banking syndicate. Steinhoff Asia Pacific announced on Tuesday morning that the new loan was struck on normal commercial terms and was based on the operating performance of its local business. Six banks, including domestic and offshore names, tipped into the offer. King &…
The new boss of Godfreys Group has embarked on a rescue mission at the vacuum cleaner retailer, promising to ramp up e-commerce and wholesale distribution as sales continue to slide. Godfreys has suffered a further sales slump and plunged to a $59 million loss for the first half of 2017/18, with new recently installed chief…
The Australian share market has opened lower in the absence of a lead from US markets, which were shut for a public holiday, leaving local investors with only a negative lead from Europe and Britain. The benchmark S&P/ASX200 stock index was down 21 points, or 0.36 per cent, at 5,882 points at 1030 AEDT, with…
Headwinds in the Australian consumer market has caused Vocus to revise its full-year earnings guidance for the second subsequent time, the company has revealed. In reporting its first-half 2018 revenue and earnings growth, Vocus said it had revised full-year earnings guidance in underlying EBITDA to $365-380 million down from between $370-$390 million on revenue of…
Godfreys Group has suffered a further sales slump and slid to a $59 million half-year loss as the vacuum cleaner retailer’s new chief executive pledges to turn around the business’s declining fortunes. Godfreys booked a net loss of $58.6 million for the half, compared with its $21.7 million loss a year ago, following a previously…
Vacuum cleaner retailer Godfrey’s Group has deepened its first-half loss on the back of a $75.2 million impairment charge and other business restructuring costs. The company’s net loss of $58.6 million for the six months to December 29 compares to its $21.7 million loss a year ago, while underlying profit – which excludes one-off significant…
HSBC Holdings (0005) releases its annual results today and many investment houses seem positive. Goldman Sachs expects the total amount of share buybacks of the banking group to hit US$3 billion (HK$23.4 billion) this year and the dividend payout to be maintained at 51 US cents per share. The conglomerate has had three public repurchases…