Medicines Co. (NASDAQ:MDCO) +8% premarket after reporting a smaller than expected Q3 loss and announcing plans to restructure the company, including laying off more than 85% of its workforce. MDCO says the restructuring, which it plans to substantially implement within the next 45 days, will cut headcount to fewer than 60 people. MDCO also expects…
Oil and gas vessel operators are doing it tough.Picture: Chevron The oil price slump has claimed a victim in WA oil and gas vessel operator Go Marine Group, which has been put into administration. Go Marines board appointed administrators from KordaMentha last Friday to the company, which is owned by Singapores Otto Marine. Its understood…
MUMBAI: Reliance Communications (RCom) is believed to be closing down major parts of its wireless business in the next 30 days, blaming among other factors, the creative destruction brought in by new entrant Reliance Jios free voice and cheap data services, and has told its employees that their last date of employment will be November…
Caterpillar Inc. continued to benefit in the third quarter from the combination of increased overall sales and comparisons with a weaker performance a year ago. The company, with a railroad-equipment production plant in Winston-Salem, reported Tuesday significantly increased domestic and global sales in its construction, energy and mining units. Third-quarter net income jumped more than…
SCOTTSDALE, Ariz.–(BUSINESS WIRE)–Carlisle Companies Incorporated (NYSE:CSL) reported record net sales of $1,089.1 million for the third quarter ended September 30, 2017, a 9.9% increase from $991.0 million in the third quarter of 2016. Acquired net sales contributed a total of 5.3% in the quarter. Organic net sales grew 4.4% (organic net sales are defined as…
The Financial Conduct Authority is considering whether it can take action against Royal Bank of Scotland over the way it treated its small business customers in the five years after the 2008 banking crisis. Publishing a summary of a report it commissioned on the banks controversial global restructuring group (GRG), the FCA said lending to…
PKBR Staff Writer Published 24 October 2017 West African glass producer Frigoglass has completed the restructuring process of the group. The restructuring process has allowed the company to reduce its outstanding gross indebtedness by around 138m. Frigoglass also secured 70m of additional liquidity to fulfill its business requirements, as well as restructuring-related expenses. According to…
Noble Group Ltd.s sale of its oil business to Vitol Group probably buys the embattled commodity trader time. But even if it survives long enough to complete the deal, theres still an almighty struggle ahead: the near-inevitable restructuring of over $3 billion in debt. Analysts at BNP Paribas SA, Nomura Holdings Inc., JPMorgan Chase &…
LONDON, Oct 23 (Reuters) – Royal Bank of Scotland said on Monday the potential bill for claims against its small business restructuring division will remain at 400 million pounds ($528 million) after misconduct allegations against it were dismissed by Britains financial regulator. Britains Financial Conduct Authority on Monday published a detailed summary of a report…
LONDON (Reuters) – Royal Bank of Scotland (RBS.L) said on Monday the potential bill for claims against its small business restructuring division will remain at 400 million pounds after misconduct allegations against it were dismissed by Britains financial regulator. The logo of RBS (Royal Bank of Scotland) bank is seen reflected in the windows of…