Barclays shares fall 7% on results and restructuring 1 March 2016 From the section Business Media captionBarclays chief executive Jes Staley says the restructured bank will be simpler Barclays shares closed down 7% after reporting a drop in full-year profits, a dividend cut and a restructuring including reducing its stake in Africa. Underlying annual profits…
Regional law firm Aaron & Partners has strengthened its dispute resolution and insolvency team further with the appointment of insolvency expert Mark Davies as a partner in its Chester office. Mark, who has spent most of the last 20 years working for Manchester based firms, has over 26 years experience of servicing a national client…
Toshiba’s Tokyo headquarters–Courtesy of Toshiba Long-beleaguered Toshiba is planning on selling its entire medical equipment unit as it grapples with rising restructuring costs. The move comes as the Japanese company attempts to recover from an accounting scandal that has taken a hefty toll on business. Toshiba had previously said it would sell at least 51%…
Finance Minister Arun Jaitley in a post-Budget press conference in New Delhi. (PTI photo) New Delhi: Sebi will develop new products like options in the commodity derivatives market and also take a slew of measures to deepen the corporate bond markets. “New derivative products will be developed by Sebi (Securities and Exchange Board of India)…
Last Modified: Tue, Mar 01 2016. 12 35 AM IST Attracting foreign investment in the insurance and pension sectors, and instilling competition in the transportation sector are the other priorities Rescuing sinking financial institutions using a modern insolvency code, attracting foreign investment in the insurance and pension sectors, making deep-water hydrocarbon exploration more rewarding…
Severed workers of the Power Holding Company of Nigeria (PHCN), are protesting ongoing plans to liquidate the companys assets amidst pending labour issues including outstanding severance benefits of nearly 5,000 workers. The protest was led by the Chairman of the FCT Council of Electricity Employees, Mr Wisdom Nwachukwu on Monday. The workers demanded that…
Insolvency law specialist Nick Pike of Pinsent Masons, the law firm behind Out-Law.com, said that in most situations business-related IP stored on electronic devices used by staff for work purposes will belong to the company. He said it is common for administrators to look to “secure and preserve” that IP when they are appointed following…
Real estate developer Inbal Or is in a cross fire of an Israel Tax Authority criminal investigation, allegations by apartment purchasers, and business problems, but at least one threat was removed today. Or has reached agreement with Avraham Wolloch, an apartment buyer who filed a liquidation petition against Or City Real Estate, owned by Inbal…
Gary R. Leistico of the Rinke Noonan firm on Feb. 15 notified the Ninth Judicial District Court that he withdrew from the Anderson Seed case. Leistico was the point of contact for the Andersons since their facilities went insolvent, creating millions in claims by farmers and elevators in South Dakota and North Dakota. Leistico led…
A company that illegally sold on personal information and plagued members of the public with more than 46m automated nuisance calls relating to Payment Protection Insurance (PPI) mis-selling claims has received a record £350,000 fine. The Information Commissioners Office (ICO), the governments data protection regulator, handed out the largest fine in its history to Prodial,…