Fighting to survive: Noble Group’s fate hangs on investors restructuring vote – Business Insider

FILE PHOTO: Fighting to survive: Noble Group’s fate hangs on investors restructuring vote Thomson Reuters By Anshuman Daga SINGAPORE (Reuters) – Singapore-listed Noble Group Ltd faces a make-or-break shareholders’ meeting on Monday as investors vote on a $3.5 billion debt restructuring plan that its creditors and board say is vital to prevent insolvency. The company,…

Optus slashes 440 jobs as telco undergoes business restructure – Nine

Optus will make 440 employees redundant as the telecommunications company restructures the business to focus on “digitisation and automation”. Employees were informed of the redundancies this morning, two week after Optus announced a 2018 quarterly profit of $154 million. An Optus spokesperson said the telco was committed to “becoming a world-class, mobile-led, digital service provider”.…

Noble Group founder declines executive director role in restructured firm – Business Insider

FILE PHOTO: Noble Group founder and Chairman Richard Elman poses at his office in Hong Kong Thomson Reuters SINGAPORE/BENGALURU (Reuters) – Embattled commodity trader Noble Group Ltd said on Monday that its founder, Richard Elman, will not take up a previously announced position as an executive director in the restructured company, citing “personal reasons”. Once…

Greencross under the weather, vet business and impairments to blame – Business News Australia

Poor performance in its veterinary business and a myriad of exceptional costs have drained Greencross’ (ASX: GXL) profits in FY18. The pet product retailer and veterinary specialist realised $24.2 million worth of impairments across areas including projects, investments, store assets and provisions. In the second half alone, Greencross paid $22.6 million in…