Insolvency Guardian Media Centre
Houlihan Lokey
The firm which specializes in corporate finance business, restructuring, and financial advisory services has grown significantly since it went public two years ago, boosting revenue from $681 million in fiscal 2015 to $872 in fiscal 2017.
That growth means Beiser, who has been at the firm 33 years, has more employees to retain and keep engaged, but also more opportunities for recruiting young Wall Street talent.
So what does Beiser want from fresh college graduates?
Business Insider recently sat down wit…
Read the full article at: http://www.businessinsider.com/houlihan-lokey-ceo-recruiting-young-wall-street-2017-8
during Left rule
(Eds: Recasting story)
Kolkata, Aug 11 The Trinamool Congress-led West Bengal government has sought six months’ time from nine banks to repay the principal amount of a loan taken during the Left front rule over a decade ago for supplying iron ore to a China-based company.
“We will only be able to repay the principal amount taken from banks by the then Left front government in 2004-05 for supplying iron ore to China. We will pay it within six months,” West Bengal Food Supplies Department minister Jyotipriyo Mallick today said.
“We will soon hold a meeting with the banks and tell them of our inability to pay them the interest amount,” he added.
The West Bengal Essential Commodities Supply Corporation Ltd (WBECSC), which i…
Read the full article at: https://www.outlookindia.com/newsscroll/wb-govt-to-seek-6-mths-time-from-banks-to-repay-a-loan-taken/1122017
Tata Steel has reached an agreement over its £15bn pension scheme, in a move that the pensions regulator hopes will help secure jobs at the Indian-owned company that employs more than 8,000 people across the UK.
The 130,000 members of the scheme one of the UKs largest are to be contacted by the trustees to be told they will have an option to switch to a new scheme or move to the Pension Protection Fund, a government-backed pensions lifeboat.
The Pensions Regulator (TPR) said such arrangements over pensions were rare but necessary in this in case to prevent the company becoming insolvent. This proposal brings greater certainty for pension scheme members and unlocks the possibility of restructuring the company, which in turn could …
Read the full article at: https://www.theguardian.com/business/2017/aug/11/tata-steel-set-to-unveil-new-pension-scheme-for-thousands-of-workers
LONDON: A 58-year-old Indian-origin director of a pizza company in the UK has been banned for seven years for making payments totalling at least 205,000 pounds to a company in which he had a personal interest.
Balwinder Singh’s Charnwood Foods Ltd in the WestMidlands region of England had the franchise for Papa John’s Pizza in Bromsgrove from March 2014 to March 2015.
The company went into liquidation on August 26, 2015, with no assets, owing an estimated 358,816 pounds to creditors of which 308,233 pounds was owed to a bank in respect of bank loans.
An investigation by the UK’s Insolvency Service found that Singh “unreasonably caused payments” of at least 205,000 pounds to a partnership he had a personal interest in….
Read the full article at: http://timesofindia.indiatimes.com/nri/other-news/indian-origin-pizza-company-director-banned-in-uk/articleshow/60026356.cms
NEW YORK (GenomeWeb) NantHealth on Thursday announced it is laying off about 300 employees as part of a restructuring of its business.
The firm also reported a 17 percent drop-off year over year in revenues for the second quarter.
In a statement, the company said that the restructuring follows “a series of methodically analyzed actions, planned over the past nine months post initial public offering to focus on the business of its core competencies of artificial intelligence and be the leading cancer company driving 21st century delivery of care.”
The restructuring includes integrating acquisitions and its partnership with NantOmics whose CEO Patrick Soon-Shiong is also the CEO of NantHealth made prior to NantHealth going public, so tha…
Read the full article at: https://www.genomeweb.com/business-news/nanthealth-lays-300-it-posts-17-percent-decline-q2-revenues
Danny McCance
11 Aug 2017 04:50pm
A round-up of this week’s appointments, promotions, board moves and resignations
…
Read the full article at: http://economia.icaew.com/en/news/august-2017/movers-and-shakers-11-august
A day after the Allahabad bench of the National Company Law Tribunal (NCLT) admitted IDBI Banks insolvency plea against Jaypee Infratech, homebuyers staged a protest outside Jaypee Groups Sector 128 office.
The protesting homebuyers, who have booked flats in Jaypee Groups Wish Town in Sector 128 and Jaypee Aman housing projects in Sector 151 gathered outside its Sector 128 corporate office and shouted slogans against the builder and the Uttar Pradesh government.
They gathered at around 2pm and raised slogans for around an hour before leaving the protest site. They are planning to stage a big protest very soon against the Jaypee Group for allegedly failing to deliver their flats on time.
Jaypee Infratech has already given possession of 6…
Read the full article at: http://www.hindustantimes.com/noida/jaypee-homebuyers-protest-in-noida-after-company-files-insolvency-plea/story-TtrgTl70JeVYCXGMaSHN1K.html
Peregrine Pharmaceuticals said today it will eliminate 20% of its workforce60 jobsin a restructuring designed to cut costs and position the company for profitability while it continues to assess strategic options for its R&D operations.
Peregrine halved its R&D staff, leaving it with 11 employees who will support potential strategic alternatives for its R&D operations while continuing to assist with the companys collaborative trials, antibody discovery platform, and exosome program.
The company also cut by 20%, to 184 employees, the staff for its Avid Bioservices CDMO wholly owned subsidiary, saying it expects to generate reduced revenues. Peregrine also sliced its selling, general, and administrati…
Read the full article at: http://www.genengnews.com/gen-news-highlights/peregrine-pharmaceuticals-axing-20-of-workforce-60-jobs-in-restructuring/81254801
T
he medical profession seems caught in a Catch-22: The growing cost of medical education is generating crushing levels of debt. This debt, in turn, is contributing to a doctor shortage and discouraging students from filling our growing needs for primary care physicians serving in poor, rural, and other underserved areas.
There is hope, however, as students return to campus. A single solution involving the Public Service Loan Forgiveness Program can solve both problems if educators and government can come together and transform debt relief into an instrument for improving health care.
The numbers are stark and dispiriting. Seventy-six percent of medical students graduate with education loans, according to the Association of American M…
Read the full article at: https://www.statnews.com/2017/08/11/loan-forgiveness-primary-care-physician-shortage/
Dive Brief:
- J. C. Penney managed to increase net sales by 1.5%, to $3 billion, in the second quarter compared to the year-ago period, even as a mass of store closures and liquidations weighed on the companys margins, according to a company press release. The sales figure narrowly beat the FactSet consensus of $2.92 billion, according to MarketWatch. Comparable sales fell by 1.3%.
- The department store retailers profit numbers disappointed Wall Street as the company posted a net loss of $62 million, or 20 cents per share, compared to a net loss of $56 million in Q2 last year. FactSet consensus had anticipated a 4 cent loss, according to MarketWatch. While the retailer reduced its administrative expenses by $…
Read the full article at: http://www.retaildive.com/news/store-closures-eat-up-jc-penneys-margins/449161/
Closing weak stores doesn’t solve all of a retailer’s problems. J.C. Penney Co. posted a wider quarterly loss, as liquidation sales at stores it closed during the period weighed on the company’s results.
Penney shares tumbled more than 15% in Friday morning trading as investors responded to weaker-than-expected profit margins.
Penney closed 127 stores in the latest quarter. Penney CEO Marvin Ellison said the retailer had never liquidated that many stores at one time, which made forecasting difficult. But he added: “We walked away from the liquidation event a stronger company.”
Penney said in February it would close as many as 140 of its roughly 1,000 stores, joining rivals such as Macy’s Inc….
Read the full article at: http://www.marketwatch.com/story/jcpenney-stock-slides-on-wider-quarterly-loss-2017-08-11
London, August 11