The group said it will reduce its five operating businesses to three core units, civil aerospace, defence and power systems, as part of a simplification of the business. At the same time, Rolls will begin a strategic review of its commercial marine operation, which supplies equipment and vessel design across oil and gas markets. The…
Peggy Hollinger, Industry Editor January 17, 2018 Rolls-Royce will consider selling its commercial marine business as chief executive Warren East launches the strategic phase of the blue-chip engineers two-year restructuring. Mr East said he was looking at the strategic options for the division as part of a wider shake-up that will reduce the number of…
Aliya Ram and Cat Rutter Pooley January 17, 2018 Pearson, the UK educational publisher, expects profits next year to be lower than in 2017 because of costs from selling parts of its business and the impact of the weaker dollar against the pound. The FTSE 100 company forecast on Wednesday that this years profits would…
LONDON (Reuters) – Pearson said it had seen no let up in the pressures weighing on its North American business as retail partners turned increasingly cautious when ordering books, sending its shares down more than 6 percent. In a full-year trading update, Pearson said sales in U.S. higher education course materials fell 3 percent on…
by Madison Marriage and Barney Thompson PwC’s role in the liquidation process of the collapsed contractor Carillion has come under scrutiny after it emerged that the auditor already has two separate, and apparently conflicting roles, including one advising the defunct company’s pension trustees. Six PwC executives were appointed by the High Court on Monday as…
Bill Gates charitable foundation has agreed to pay Nigerias debt to Japan so the African nation can become polio-free. The Bill and Melinda Gates Foundation announced it will shoulder the $76m debt for Africas largest economy, which is recovering from its first recession in 20 years. Nigeria originally took the loan in 2014 and…
The good news is small businesses are currently being charged the lowest interest rates they have paid since the Reserve Bank of Australia started collecting this data back in 1993. According to the Australian Bankers’ Association’s latest figures, small businesses are paying $9 billion less in interest now compared to 2011. Low interest rates are…
— Group brings together a global network of proven EY professionals with deep experience and political insights — EY and Teneo Intelligence collaborate as part of the geostrategic offering LONDON, Jan. 16, 2018 /PRNewswire/ — EY announces the launch of the EY Geostrategic Business Group aimed at actively working with organizations and institutions globally to understand…
LONDON, United Kingdom Its been a tough time for Paul Smith, the namesake fashion label of the 71-year-old godfather of British style, known for its sharp suits and eccentric English touch. Operating profit at the company has declined for five consecutive years. Smith has been in business since 1970, when he started a store in…
DALLAS–(BUSINESS WIRE)–EXCO Resources, Inc. (NYSE: XCO.BC) (OTC Pink: XCOO) (“EXCO” or the “Company”) today announced that in order to facilitate a restructuring of its balance sheet, the Company and certain of its subsidiaries have filed voluntary petitions for a court-supervised reorganization under Chapter 11 of the United States Bankruptcy Code in the U.S. Bankruptcy Court…