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CHARGED: Former billionaire Nathan Tinkler has been charged by police for allegedly destroying property.BANKRUPT former billionaire Nathan Tinkler is embroiled in a family
(RTTNews) - While reporting its fourth-quarter financial results today, Kimberly-Clark Corp. (KMB) announced a new global restructuring initiative, which includes
There is insufficient research on what can tip a gambler towards destructive addiction.Credit: Simon Dawson/Bloomberg/Getty Pathological gambling is thought to
In early January, news of Anil Agarwal-backed Vedanta Resources emerging as a bidder for debt-laden Electrosteel Steels sent the latters stock soaring. While Vedanta wasnt the only bidderEdelweiss Asset Reconstruction Company, Tata Steel and Abhishek Dalmia-promoted Renaissance Steel were also in the fraythe process marked the beginning of proceedings under the Insolvency and Bankruptcy Code (IBC).
If the Electrosteel bid goes ahead (the insolvency professional could still reject the bids) it would be the first time an Indian company is sold after ousting the promoters and the lenders taking a significant haircut on the 10,000 crore (13,000 crore with interest) loan due. T…
CHARGED: Former billionaire Nathan Tinkler has been charged by police for allegedly destroying property.
BANKRUPT former billionaire Nathan Tinkler is embroiled in a family feud that has seen him charged with allegedly smashing a stained glass window at his sisters house.
The case was briefly mentioned in Port Macquarie Local Court on Wednesday, but Mr Tinkler did not appear.
Police allege that Mr Tinkler went to his sister Donna Dennis and her husband Lindsays home in Kendall, on the north coast, on December 28 and smashed the window.
Mr Dennis has also applied for an apprehended domestic violence order against the 41-year-old former owner of the Newcastle Knights and Jets.
The criminal charge comes just days after Mr Tinklers creditors ref…
Kleenex-maker Kimberly-Clark has said it will close or sell 10 manufacturing plants and cut at least 5,000 jobs – about 12% of its workforce.
The move comes as the Texas company struggles to lift sales. In the fourth quarter of 2017, sales rose by just 1%.
Kimberly-Clark said the restructuring would streamline its supply chain, saving at least $500m by the end of 2021.
The savings are in addition to a plan to reduce costs by $1.5bn in that time.
Kimberly-Clark chief executive Thomas J Falk said the restructuring – which carries costs of as much as $1.9bn by 2020 – will make the company “leaner, …
Gambling has forever been linked to culture and is intrinsically connected to the history of the U.K. Though its form may have changed throughout the centuries, gambling has been a part of and has helped to shape society since prehistory, the Middle Ages and well into the modern day. Lets take a walk back in time and explore the impact of gambling and gaming legislation.
Prehistory Divination and Competition
To understand the recorded history of gambling in the U.K., its important to understand that gambling has always played a part in civilisation. Gambling itself essentially has two components; gaming, in which players participate in games of chance and have an equal opportunity of winning or games of part skill and part chanc…
Bombardier Inc. expects to see another year of 10 percent sales growth from its train segment as the Canadian manufacturer holds the line against bigger rivals from China and Europe.
Rail-equipment orders outpaced deliveries last year, and the trend is likely to continue in 2018 with potential orders in Asia, Europe and elsewhere demonstrating strong demand, said Laurent Troger, head of Bombardiers train business. The units backlog of future work was valued at about $33 billion as of September, r…
(Reuters) – Kleenex and Huggies maker Kimberly-Clark Corp said on Tuesday it expects to eliminate 5,000-5,500 jobs, or 12-13 percent of its workforce, as part of its global restructuring program.
The company said it expects to close or sell about ten manufacturing facilities and would exit or divest some lower-margin businesses.
The restructuring is expected to broadly impact all the business segments of the company, it said.
The cost-savings program, which will begin in the current quarter, is expected to be completed in two years and the company sees incurring related pretax charges of $1.7 billion to $1.9 billion over that period.
Kimberly-Clark said the program would generate annual pretax cost savings of $500…
(RTTNews) – While reporting its fourth-quarter financial results today, Kimberly-Clark Corp. (KMB) announced a new global restructuring initiative, which includes job cuts in a range of 5,000 to 5,500, or 12 percent to 13 percent of current headcount, as well as the closure or sale of about 10 manufacturing facilities.
In addition, the company set a multi-year savings target to its ongoing cost savings program and raised its quarterly dividend by 3.1 percent.
Kimberly-Clark announced the new 2018 global restructuring program to reduce the company’s structural cost base by streamlining and simplifying its manufacturing supply chain and overhead organization.
The company expects the restructuring to generate annual pre…
There is insufficient research on what can tip a gambler towards destructive addiction.Credit: Simon Dawson/Bloomberg/Getty
Pathological gambling is thought to affect as many people as autism and schizophrenia. It disrupts employment, relationships and health, and places an enormous burden on the state. It is the only behavioural addiction formally recognized by the American Psychiatric Association, appearing in the fifth edition of the organizations Diagnostic and Statistical Manual of Mental Disorders (DSM–5) in 2013. And what is the contribution of science to this pressing debate? A review last year of all research literature looked for well-designed studies conducted in real gambling environments with r…
Commissioner Margrethe Vestager, in charge of competition policy, said: “Polish Regional Railways has already benefitted from state support in the past. We need to assess whether the aid received is compatible with EU State aid rules and make sure that public support does not lead to distortions of competition in this market”.
In September 2015, Poland notified to the Commission restructuring aid granted to Polish Regional Railways (Przewozy Regionalne), worth PLN 770 million (around 181 million).
Under EU State aid rules companies in financial difficulty, such as Polish Regional Railways, can receive restructuring aid only once over a period of 10 years (the so called “one time, last time” principle). This is to avoid that str…
Cabify, the Madrid-based startup that competes with the likes of Uber and 99 in Latin America as well as Spain and Portugal, has closed out another round of funding as competition continues to heat up in the on-demand transportation sector. Cabifys parent company Maxi Mobility has raised $160 million at a valuation of $1.4 billion, the company confirmed to TechCrunch today.
But its not a completely rosy picture. TechCrunch has learned and confirmed that the company is also undergoing a restructuring that one source says affects up to 10 percent of employees. Cabify has also changed CEOs, with Vicente Pascual who had been a co-founder of the company and its COO taking on the CEO role; and Ricardo Weder, who had been the CEO for o…
The Insolvency and Bankruptcy Code (Amendment) Ordinance, 2017, dated 23 November 2017, was promulgated by President RN Kovind to amend the provisions relating to the insolvency resolution process contained in the Insolvency and Bankruptcy Code, 2016. The ordinance has made several amendments in order to bring clarity to the resolution process under the code. Some of the key changes are:
Applicability of the code. The ordinance has expanded the applicability of the code to include personal guarantors who have provided a guarantee for a borrowing by a corporate borrower, which was hitherto an uncertain position. The ordinance makes the code applicable to proprietorship firms, which could potentially bring several small and …
Illustation: Sameer Pawar
