Image copyright Getty Images BAE Systems is planning to cut almost 2,000 jobs in military, maritime and intelligence services, the firm says. A total of 750 posts will go at the Warton and Samlesbury plants in Lancashire where parts for the Eurofighter Typhoon are manufactured. BAE is facing an order gap for the Typhoon so…
Time Inc is in talks with digital media companies to publish print versions of their content, even as the US publisher cuts back its own magazines circulation. The owner of Time, People and Sports Illustrated is in the midst of a company-wide restructuring as it seeks to return to growth following its decision earlier this…
CHICAGO, Oct. 10, 2017 /PRNewswire/ — McDonald Hopkins LLC, a business advisory and advocacy law firm, has announced that David A. Agay has been named the new Managing Member of the Chicago office. Agay is an accomplished corporate restructuring attorney who previously served as the office’s assistant managing member. He succeeds Richard N. Kessler, who…
Private contractors will answer calls from Centrelink’s welfare recipients after the Department of Human Services outsourced call centre work to multinational services company Serco. In an unprecedented move for the welfare agency, 250 of the company’s Australian subsidiary staff in Melbourne will take calls about payments in a three-year pilot program costing the government $51.7…
Victorians struggling to pay gas and electricity bills will be entitled to more help to prevent debt and disconnection under new rules for energy retailers. Flexible payment options, lower tariffs and a six-month debt payment “hold” for people who have missed paying their energy bills are part of changes announced by the Essential Services Commission…
Rachel Chitra | TNN | Oct 11, 2017, 04:00 IST Chennai: VA TECH WABAG, a water treatment solutions company, has filed an appeal with the National Company Law Appellate Tribunal (NCLAT) after insolvency proceedings were initiated against it at the National Company Law Tribunal (NCLT), Chennai bench, by Consolidated Construction Consortium (CCCL). The company clarified…
Leshi Internet Information & Technology Corp., the listed arm of embattled tech giant LeEco, extended its share-trading halt after a six-month suspension, citing uncertainties in a restructuring plan. Shenzhen-listed Leshi said in a filing Monday that trading of its stock would remain suspended after Oct. 17 because of significant and unprecedented issues related to the…
Sears Canada Inc. will seek court approval to liquidate its remaining stores on Friday with the loss of about 12,000 jobs after it failed to receive a viable bid for the company. The Toronto-based retailer expects to begin liquidation sales on Oct. 19 at the earliest, according to a statement Tuesday. Sears Canada said it…
MILAN, Oct 10 (Reuters) – Italian bioplastics multinational Mossi Ghisolfi is considering selling its Italian business in the biofuels sector as part of a restructuring deal, a source close to the matter said. The company, Italys second-biggest chemicals business behind that of oil group Eni, has hired Mediobanca to run the process, the source said.…
Sears Canada was granted an Initial Order and protection under the Companies’ Creditors Arrangement Act (“CCAA”) on June 22, 2017. It subsequently received the Court’s approval of a sale and investment solicitation process (SISP) to seek out proposals for the acquisition of, or investment in, the Sears Canada Group’s business, assets and/or leases, and to implement one…