HONG KONG, April 27 (Reuters) – Embattled property developer China Evergrande Group (3333.HK) will get a signal on Thursday of the level of creditor backing for its offshore debt restructuring proposal, with investors to be given an incentive for early support. While some major creditors have already agreed to support the restructuring proposal, others are…
ST. PAUL, Minn., April 25, 2023 /PRNewswire/ — 3M (NYSE: MMM) today reported first-quarter 2023 results. “In the first quarter we continued our relentless focus on serving customers and aggressively managed costs,” said 3M chairman and CEO Mike Roman. “Market trends were as we expected, and we made changes to improve our operations and position…
April 24 (Reuters) – Embattled property developer China Evergrande Group (3333.HK) said its listed electric vehicle arm will book a $3.6 billion gain from the transfer of two debt-laden companies to another group unit as part of the auto firm’s restructuring. With more than $300 billion in total liabilities including offshore debt, Evergrande has been…
Mitsubishi Electric Corp. shares JP:6503 rose sharply Tuesday morning after the company announced the restructuring of its loss-making car equipment business. Shares were recently 4.7% higher at 1,706.5 yen ($12.71) after rising as much as 5.4% earlier. The company said Monday after market close that it would discontinue its car multimedia… Read the full article…
Getty Images Walt Disney Co has begun a second round of layoffs as part of an earlier announced restructuring expected to result in 7,000 job losses. The media giant has been under pressure as its traditional television and film business shrinks, while its streaming unit continues to post big losses. Chief executive Bob Iger announced…
McDonald’s (MCD) is set to report first quarter earnings on Tuesday, April 25, before the market open. Analysts are keeping an eye on food and labor inflation, the impact of recent restructuring actions, marketing initiatives like the Cardi B & Offset Meal, and digital sales growth. This report also comes as investor concern over a…
A child poses for a photo at the booth of Shanghai Disney Resort during an exhibition of the 2nd China (Wuhan) Culture and Tourism Expo on April 22, 2023 in Wuhan, Hubei Province of China. Walt Disney Co has begun a second round of layoffs as part of an earlier announced restructuring expected to result…
A Vietnamese flag flies atop the State Bank building, near the Vietcombank and Bank for Investment and Development of Vietnam buildings, in central Hanoi, Vietnam. REUTERS/Kham/File photo HANOI Vietnams central bank will restructure loans for some businesses facing difficulties, including delaying loan repayments, the government said, as it seeks to shore up a slowing economy.…
Danny is well-versed in employing cost-reduction and performance improvement initiatives, undertaking interim CFO roles, conducting operational reviews and reviews of business models, cash flow forecasting, operational and financial due diligence, and investigations. He has been involved in various engagements across the financial, retail, logistic, telecommunications, energy and shipping industries. Danny joined Kroll through the acquisition of Borrelli Walsh in…
Troubled Australian casino operator The Star Entertainment Group is to engage new cost and restructuring initiatives as the business warns that it is experiencing a significant and rapid deterioration in operating conditions. Star, which has been the target of multiple parliamentary inquiries into misconduct, said that it intends to restructure due to the compounding impact…