SANTA ANA, Calif.–(BUSINESS WIRE)–Stearns Holdings, LLC (Stearns or the Company), the parent company of Stearns Lending, LLC, a leading provider of residential mortgage lending services in Wholesale, Retail and Strategic Alliances sectors, today announced that it has reached an agreement with its majority equity holder, funds affiliated with Blackstone (Blackstone, NYSE: BX), on the terms…
Deutsche Bank to cut 18,000 jobs Deutsche Bank has been the big story of the morning, as a new week starts to the news that the struggling German bank will cut a colossal 18,000 jobs in a bid to become profitable once again. Much of this can be attributed to the shift out of the…
Hundreds of City workers are fearing for their jobs after Deutsche Bank, the global bank that is one of the Square Miles largest employers, said it plans to axe 18,000 staff worldwide in the latest attempt to revitalise its reputation and business. The layoffs, equivalent to 20% of the banks workforce, come after chief executive…
Curtis Solsvig, managing director at Goldin Associates and interim CEO at uBiome Courtesy of Goldin Associates The new interim CEO of troubled microbiome startup uBiome, Curtis Solsvig, is a longtime turnaround and restructuring expert at financial advisory firm Goldin Associates and the former chief restructuring officer of failed drone startup Lily Robotics. Earlier this week,…
Venezuelas opposition plans to treat equally creditors ensnared in the countrys $150bn web of defaulted debt if President Nicols Maduro is removed after weeding out inflated, fraudulent, or corrupt claims. In a new policy paper, advisers to US-backed opposition leader Juan Guaid sketch out how his administration would go about restructuring Venezuelas huge and varied…
Policy decisions in France are aimed at reducing or even eliminating the use of phytosanitary products in agriculture. The economic situation of companies in the EXEL Industries group that manufacture agricultural sprayers is coming under increasing pressure, particularly if they mainly sell to the French market. Our companies are currently having to consider some serious…
Troubled live exporter Wellard has voluntarily suspended its shares, pending the release of an announcement about a proposed recapitalisation and restructure. The suspension follows the company putting its shares into a trading halt on Monday, foreshadowing the announcement, which was planned for Wednesday but is now set to be released by Friday. The announcement relates…
A new report from Muscle Cars And Trucks, citing unnamed sources, says General Motors has canceled development of the sixth-generation Chevy Camaro Z/28. The news comes after last weeks revelation the automaker is rumored to discontinue the Camaro after 2023 with the seventh-generation Camaro program shelved for now. Deliveries for the sixth-generation Camaro have been…
Cosmetics and fragrance giant Coty Inc. said it would restructure its operations and take a $3 billion write-down on the multibillion-dollar beauty business it acquired nearly three years ago from Procter & Gamble Co. Coty, whose products include OPI nail polish and CoverGirl makeup, said Monday it struck a deal with creditors to provide enough…
State-owned steel producer PT Krakatau Steel has denied rumors that the company will layoff more than 2,000 people in an effort to improve its financial performance. The rumor is false, Krakatau Steel president director Silmy Karim said in a statement. There are many ways for a company to restructure its organization and firing employees is…