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Autodesk ( ADSK ), a maker of computer-aided design software, reported slightly better-than-expected fiscal third-quarter results, but gave mixed guidance
[TOKYO] Nomura Holdings Inc is returning to private equity – a move that comes as it seeks more stable income through consulting services and as Japanese firms increasingly look to divest non-core businesses as part of restructuring plans.
Japan’s biggest brokerage and investment bank on Wednesday said in a statement it would initially invest about 100 billion yen (S$1.21 billion) in the new business. It has yet to identify any specific investment targets.
Nomura and other brokerages, which generate much of their revenues from securities trading, are increasingly looking to more stable income streams in an effort to reduce their exposure to volatility in financial markets.
MUMBAI: A recent Supreme Court judgement restraining independent directors of Jaiprakash Associates from transferring any personal assets over a group companys insolvency issue has sent shock waves through the independent directors fraternity, with experts warning that there would be few takers for this role.
Several independent directors on boards of companies are now seeking legal advice to find out to what extent they can be held liable for any operational issues in those firms.
Kiran Mazumdar Shaw, chairperson of Biocon, said the country is moving from poor governance to extreme governance. It is unfair to place the entire onus on independent directors who are only privy to the information shared with them by the management, she …
HAZLETON A new building may be constructed in Valmont Industrial Park, even though most of the land there is spoken for.
Officers of CAN DO Inc., the areas economic developers, told the organizations board of directors recently there is a parcel of land planned for a building that was never built that would be a good place for a speculative industrial building.
In the late 1980s, a private developer, March Development of Allentown, bought land on the north side of Rotary Drive a…
People running labour hire companies that exploit workers and dodge tax will face up to three years in jail under laws that have passed South Australia’s Parliament.
The laws were sparked by a Four Corners investigation that found extreme exploitation and slave-like conditions in the food production industry, mostly affecting workers employed by labour hire companies.
The legislation means companies operating in South Australia must be licensed and will face tougher penalties, including jail time, if they flout the law.
Employment Minister Kyam Maher told Parliament unscrupulous operators were underpaying workers and avoiding tax, workers compensation payments…
Meanwhile, eChoice, an award-winning mortgage aggregator with more than 400 brokers, could be sold to a ‘major financial institution’ after being placed into voluntary liquidation because of unsustainable debt.
Tony Wales, a director of eChoice and Welas, a private investment company, which is a secured creditor of eChoice, called in liquidators’ Rodgers Reidy after deciding that he could no longer support the group in its current form.
A spokesman for the liquidator said eChoice is in liquidation because of an “unsustainable historical debt burden to Welas Pty Ltd, which had supported the group for many years but formed the view that it could no longer continue support”.
Thirteen subsidiaries, which are involved in activit…
Santa Clara, Calif., November 28, 2017 Avaya announced today that the United States Bankruptcy Court for the Southern District of New York (the Court) has confirmed its second amended chapter 11 plan of reorganization (the Plan). As a result, Avaya expects to emerge from its restructuring process before the end of this year.
The Courts approval of our plan is the culmination of months of hard work and extensive negotiations among our various stakeholders, said Jim Chirico, Avayas President and CEO. In the coming weeks, Avaya will emerge from this process stronger than ever and positioned for long-term success, with the financial flexibility to create even greater value for our customers, partners and stockholders.
A regional trial court has issued an order to liquidate the assets of the Uniwide group, declaring as insolvent the former high-flying retailer which was still pleading for a chance to undergo corporate rehabilitation.
In an order dated Nov. 23, the RTC of Parañaque Branch 258 issued an order to liquidate Uniwide Sales Inc., Uniwide Holdings Inc., Naic Resources and Development Corp., Uniwide Sales Realty and Resources Corp., First Paragon Corp. and Uniwide Sales Warehouse Club.
The court petition for liquidation was filed by creditor Manila Bay Development Corp., through Zamora Poblador Vasquez & Bretana Law Offices.
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Finding the allegation in the instant petition to be sufficient in form and substance, debtors …
Shares of telecommunications companies rose, but not by as much as the broad market, as traders rotated into economically sensitive areas.
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In a highly unusual move, China Development Bank, a policy bank which often helps fund Chinese companies’ investments overseas, late last week filed a petition for Indian carrier Reliance, also known as RCom, to be d…
Autodesk ( ADSK ), a maker of computer-aided design software, reported slightly better-than-expected fiscal third-quarter results, but gave mixed guidance for the current quarter, sending its stock crashing in late trading Tuesday.
Autodesk also announced a restructuring plan that will result in pre-tax charges of $135 million to $149 million, with about $91 million to $100 million of that to be taken in the fourth quarter and the rest next year. The company didn’t say how many jobs might be cut as a result in its press release . MarketWatch, however, reported that the company said in a filing with the Securities and Exchange Commission the cuts would amount to 13% of its staff, or roughly 1,150 employee…
Melissa Pecman finished university feeling the way many graduates do: stressed about her student debt.
She landed a job as a geologist with Orix Geoscience Inc. in Sudbury and started making payments on $17,000 in government loans, Ms. Pecman says. Although she was interested in pursuing an applied masters in geology, Ms. Pecman, 27, was reluctant to incur any more debt.
So when senior management at her geological mapping firm approached her offering to pay for her masters program, she jumped at the chance and started the two-year, part-time MA program at Laurentian University this year while working at Orix. The company pays the tuition, which will total $10,000, with the agreement that Ms. Pecman completes the MA successfully and rema…
Slams canard, says ordinance levels thefield for applicants
New Delhi, November 27:
In defence of its recent insolvency ordinance, the government has asserted that the entire effort is aimed at disqualifying errant promoters while providing for a level-playing field for all prospective resolution applicants, including the promoters.
There is no merit in the contention in certain quarters that the ordinance is anti-promoter and designed to keep away all promoters from participating in the resolution process, official sources said.
Such a canard that it is anti-promoter is being spread to perpetuate the interests of a few entrenched promoters to regain control over their assets, which are undergoing insolve…
