Israeli Prime Minister Benjamin Netanyahu said his government will do its utmost to blunt the impact of job cuts at Teva Pharmaceutical Industries Ltd. as the debt-saddled company carries out its restructuring plan. Netanyahu and Finance Minister Moshe Kahlon will meet this week with Teva Chief Executive Officer Kare Schultz to try to minimize the blow…
Networking and communications vendor Avaya has announced that it has successfully completed its debt restructuring and emerged from Chapter 11 bankruptcy nearly a year after filing. With a new board and leadership team, Avaya said it is now well positioned to deliver on its growth strategy and invest in contact centre and unified communications markets.…
Shayne Elliott has rounded off a big year for the bank he is shrinking to greatness with a $1.5 billion capital return to shareholders. The timing plays out well ahead of the bank’s annual general meeting on Tuesday and means shareholders now have evidence Elliott can deliver on his commitment to return surplus cash to…
Teva might have been better off as a smaller company, new CEO says. The generic drugs powerhouse is now carrying a $34.7 billion debta result of a $40.5 acquisition of Actavis. New CEO Kåre Schultz presented a detailed restructuring plan on Thursday. Read more Israel goes on strike in support of Teva…
Large swaths of Israels economy slowly returned to business on Sunday afternoon after a solidarity strike over pharmaceutical giant Tevas plan to lay off some 1,750 Israeli employees shut down the public sector across the country for four hours. On Sunday morning, Teva employees gathered outside the pharmaceutical companys offices in Jerusalem, in the coastal…
Administrators have said Dover-based ship repairers Burgess Marine went under because a major customer failed to pay up. The company, which did everything from upgrading superyachts to repairing warships, has made 102 people redundant. Although based in Channel View Road the company has four other sites across the South Coast all of which have been…
Israel’s trade union federation Histadrut has called for a nationwide general strike on Sunday to protest planned massive layoffs at Teva Pharmaceutical Industries, the world’s largest generic drug producer and Israel’s largest company. The strike will hit airports, ports, banks and government offices across the country, which are set to remain closed until noon. On…
Israel’s trade union federation Histadrut has called for a nationwide general strike on Sunday to protest planned massive layoffs at Teva Pharmaceutical Industries, the world’s largest generic drug producer and Israel’s largest company. The strike will hit airports, ports, banks and government offices across the country, which are set to remain closed until noon. On…
CESC Ltd, the RP-Sanjiv Goenka group flagship, has got its shareholders approval for the companys proposed corporate restructuring by way of a demerger scheme of its multiple businesses. (Image: Reuters) CESC Ltd, the RP-Sanjiv Goenka group flagship, has got its shareholders approval for the companys proposed corporate restructuring by way of a demerger scheme of…
Getty Images Sears’ sales are down 45% since early 2013, its debt load has spiked to over $4 billion, and the company is losing well over $1 billion annually. To meet its obligations, Sears has been selling off valuable brands and properties. Now its pool of assets is dwindling, increasing the risk of a bankruptcy,…