The City regulator is at loggerheads with MPs after refusing to publish a report it commissioned into the way Royal Bank of Scotland treated small business customers. Andrew Bailey, the chief executive of the Financial Conduct Authority, has told MPs on the Treasury select committee that publication of information in the report could be a…
Dana Gas dismisses fresh restructuring proposal – The National x Abu Dhabi, UAEThursday 14 September 2017 Read the full article at: https://www.thenational.ae/business/energy/dana-gas-dismisses-fresh-restructuring-proposal-1.628349
Sales are still falling at Myer. Progress on restructuring the department store has proved slower than expected. The company today posted a 1.4% drop in sales to $3.2 billion, down 0.2% on a comparable store basis, for the full year. Net profit after tax was down 1.9% to $67.9 million, but within analyst expectations. A…
Myer’s net profit plunged 80 per cent to $11.9 million in 2017 – the weakest result since its 2009 initial public offer – after the department store chain slashed the value of fashion labels and booked hefty restructuring costs. Myer’s underlying net profit, before one-off costs, slipped 1.9 per cent to $67.9 million – in line with revised guidance…
Alexion Pharmaceuticals, Inc . ALXN announced that it will undertake a restructuring plan to re-align the organization with refocused corporate strategy. Details of Restructuring The company plans to focus on rare diseases businesses in core areas of hematology, nephrology, neurology and metabolic disorders to enhance productivity. Alexion will reduce spending and headcount associated with the…
Getty Images (Reuters) – Seadrill Ltd, the indebted oil rig firm controlled by Norwegian billionaire John Fredriksen, has agreed a restructuring that almost wipes out existing shareholders after filing for Chapter 11 bankruptcy protection. A deal with a consortium of investors, as well as bank lenders and many of its bondholders, will bring in more than $1…
by Prashant Rao and Chad Bray DowDuPont, the chemicals giant, says it it will shift the focus of its reorganisation plan after shareholders opposed a proposal to break up the company. The decision, announced on Wednesday (AEST), is the latest response by a big company to activist shareholders who have taken on ever-larger targets in…
September 12, 2017 18:44 ET | Source: Seadrill Partners LLC London, United Kingdom, September 12, 2017 – Seadrill Partners LLC (“Seadrill Partners” or the “Company”) announces today that the Company’s largest shareholder, Seadrill Limited (“Seadrill”), has entered into a restructuring agreement with secured lenders, bo… Read the full article at: https://globenewswire.com/news-release/2017/09/12/1118428/0/en/SDLP-Seadrill-Limited-Restructuring-Update.html
Members of boards of directors will now have to have unique director identification numbers as a way of combating phoenix companies where businesses are sent broke but their assets rise again in another company. The federal government says illegal phoenixing costs the economy up to $3.2 billion a year. Among the latest measures are making…
A family shops at the Wal-Mart Supercenter in SpringdaleThomson Reuters CHICAGO (Reuters) – Wal-Mart Stores Inc is restructuring its U.S. store operations and will consolidate its business divisions from six to four, the company said on Tuesday. “Our last field restructure was several years ago and our business has changed over that time,” the company…