Simon Maude/Stuff NZME has pursued a bold paywall strategy, making most of the content on its NZ Herald website only available to subscribers. NZME, publisher of the New Zealand Herald, is restructuring its newsroom. The NZX-listed media company is intending to separate out its print and digital operations. The New Zealand Herald reported that the…
NEW YORK, Aug 21 (Reuters) – Goldman Sachs (GS.N) is weighing the sale of a part of its wealth business, it said on Monday, as it shifts its focus back to serving the ultra-rich and away from high-net-worth clients in mass markets. The Wall Street bank is evaluating alternatives for its registered investment adviser (RIA)…
Akin has been shortlisted by Legal Business in the category Restructuring Team of the Year as part of the publications annual Legal Business Awards. Akins shortlisted submission highlighted the firms lead role in the successful global chapter 11 restructuring of $6 billion in financial indebtedness of Nordic Aviation, the largest lessor of regional aircraft in…
Domestic Debt Restructuring (DDR) is necessary and viable. The term debt restructuring includes three possibilities extension of maturities (re-profiling), coupon resets or reduction of the principal. There is no fourth option. Principal haircuts are generally avoided, and they are not necessary. Re-profiling and coupon resets are sufficient to achieve policy goals. Why restructure domestic debt?…
Iris Gonzales – The Philippine Star August 21, 2023 | 12:00am MANILA, Philippines Snack food giant Monde Nissin Corp. has completed the restructuring of its meat alternative business, cautiously optimistic of the growth of this business segment in the coming quarters. The previously announced restructuring of our meat alternative business has been substantially completed and…
Embracer Group has announced its financial results for the first fiscal quarter ended June 30. The Swedish holding company saw growth in key business metrics, also saying that its restructuring is proceeding according to plan. Financial highlights According to its latest report, Embracer Groups net sales reached SEK 10.45 billion ($955.3 million), up 47% year-over-year.…
(Adds Chinese central bank comments) By Jason Xue and Clare Jim SHANGHAI/HONG KONG, Aug 17 (Reuters) – A major Chinese asset manager has told its investors it needs to restructure its debt, stoking fears that a chain of defaults could spread through the financial sector and deliver a destabilising shock to the country’s weakened economy.…
SHANGHAI/HONG KONG, Aug 17 (Reuters) – Faced with a liquidity crisis, Zhongzhi Enterprise Group will conduct a debt restructuring, the Chinese asset manager has told investors, as a deepening property sector downturn raises fears about spillover risks to the broader financial sector. Beijing-based Zhongzhi, which has sizable exposure to real estate, has stopped payment to…
Last week, synthetic biotechnology company Amyris formally announced that the company will be moving forward with filing voluntary Chapter 11 bankruptcy proceedings and will undergo significant financial restructuring intended to improve the Company’s cost structure, capital structure, and liquidity position while streamlining Amyris’ business portfolio to focus on its core competencies in R&D and the…
Despite its products being found in millions of homes across the globe, international houseware and appliance manufacturer Instant Brands has filed for Chapter 11 bankruptcy protection. The company, which is controlled by private equity firm Cornell Capital, cited rising interest rates for its financial difficulties and Chapter 11 filing in the Southern District of Texas,…