FILE PHOTO: People walk past a Royal Bank of Scotland office in London Thomson Reuters LONDON (Reuters) – Royal Bank of Scotland on Friday said it posted a profit in the first half of 2017 following a 2 billion pound ($2.65 billion) loss in the same period last year amid hefty restructuring and legal costs.…
Moneycontrol News A consortium of lenders led by State Bank of India has ordered a forensic audit of Videocon Industries‘ account to investigate whether the company stumbled because of tough business conditions or financial mismanagement. The measure is a precursor to the debt restructuring process, which has now become inevitable for Videocon after the company…
Aug. 3, 2017 – by Monica Watrous Monica McGurk, chief growth officer, and Andy Callahan, president, North American Foodservice & International, will be leaving Tyson Foods. SPRINGDALE, ARK. Two executives will depart Tyson Foods, Inc. as part of a company restructuring announced Aug. 2. Monica McGurk, chief growth officer, and Andy Callahan, president, North American…
(Adds CFO and CFO comments on future strategy) MILAN, Aug 2 (Reuters) – Poste Italiane will focus on developing its asset- management business, while continuing the restructuring of its mail and parcel service, under a new business plan now being drafted. The Italian group, which is controlled by the government, last year got more than…
LONG BEACH, Calif.–(BUSINESS WIRE)–Molina Healthcare, Inc. (NYSE: MOH): Net loss of $230 million for the quarter, or $4.10 per diluted share. Restructuring plan now underway is expected to reduce annualized run-rate expenses by $300 million to $400 million upon completion in 2018. $200 million total reduction to annualized run-rate expenses resulting from staff reductions expected…
It is evident that there is common ground and everyone is broadly agreed on where we need to get to. There is a still a lot of work to get through. This is a business which we have long believed needed to transform, but once done, could return to growth Johnston Press could seek to…
Shutterstock photo (RTTNews.com) – While reporting its second-quarter financial results today, Radian Group Inc. ( RDN ) said that based on the strategic review of the Services business lines to date, it has decided to restructure this business and currently expects to incur charges relating to the changes necessary to reposition this business…
FORT WASHINGTON, Pa., Aug. 1, 2017 /PRNewswire/ — Walter Investment Management Corp. (the “Company”) (NYSE: WAC.BC) today announced that it had entered into a Restructuring Support Agreement (the “RSA”) with its senior lenders holding, as of July 31, 2017, more than 50% of the loans and/or commitments outstanding (the “Consenting Term Lenders”) under the Company’s Amended…
Goldman Sachs has been having a tough time in bond trading,a business that was once a dependable source of revenue.The US bank delivered $US2.8 billion in fixed income, currencies and commodities client execution revenues in the first half of 2017, down 19% from the same period last year. That figure was $US4.7 billion in 2015…
NEC Australia has reported an operating loss of $19.3 million and engaged in a company restructure that saw redundancies and the elimination of two business lines, costing an additional $22 million to the IT suppliers bottom line. After non-operating adjustments, including interest costs and customer base amortisation, NEC reported a total comprehensive loss before tax…