Thomson Reuters Corp. said on Tuesday it will lay off about 2,000 workers, and sustain a charge of up to $250 million in the current quarter, connected to a “transformation” of its business. The company, which provides news and information services to professionals, also reported flat revenue and lower profit for the quarter. Thomson Reuters…
(Shanghai) Creditors of Guangxi Nonferrous Metals Group have vetoed an insolvency plan in a case that shows the obstacles that state-owned enterprises (SOEs) face as they try to complete the bankruptcy process. In the plan, the firm’s bankruptcy administrators proposed auctioning, presumably at a discount, not only the equity stakes the parent has in its…
ST. LOUIS–(BUSINESS WIRE)–Emerson (NYSE: EMR) today reported results for the fourth quarter and fiscal year ended September 30, 2016. As a result of pending divestitures, results for our historical Network Power segment and for the Leroy-Somer and Control Techniques businesses previously included in our historical Industrial Automation segment are now being reported as discontinued operations.…
Financial advisors and experts offer practical steps and straightforward advice to help you become debt-free. (File photo) Countless UAE residents are struggling with debt that has spiralled out of their control. With many owing huge outstanding amounts on multiple credit cards and unsecured loans, the road to being debt-free can seem like a distant dream. …
Alan Limb from BRI Business Recovery and Insolvency has been in touch following the closure of Ryde Arena. The Southampton Office of BRI Business Recovery and Insolvency have been instructed by the Directors of Ryde Arena Limited to assist them in placing the Company into Creditors VoluntaryLiquidation. Just a couple of weeks ago, hundreds formed…
Recently, we talked about Singapore ship arrest laws and procedures as well as their practical effect in light of Hanjin Shipping Co. Ltds recent financial troubles. That article also mentioned that Hanjin had filed for bankruptcy protection, which has given some relief from their monetary woes. But how does bankruptcy protection really benefit Hanjin? Is…
London, Oct 31, 2016 (AFP) – A former Manchester United midfielder is contemplating a new career after being ordained as a deacon in the Catholic Church. Philip Mulryne won 27 caps for Northern Ireland in a career that included spells with Norwich City and Leyton Orient. He was ordained by the Archbishop of Dublin, Diarmuid…
In addition, the Japanese electronics giant also saw weakness in its cash cow semiconductor division, with the unit swinging to a 4.2 billion yen loss in the second quarter from an operating profit of 34.1 billion yen in the same period last year. Sony said that foreign exchange effects as well as inventory write-downs of…
A legal business consultancy that snapped up a host of law brands in the past two years has itself gone into liquidation, the Gazette can reveal. Assure Law Limited commenced the liquidation process last week and creditors are now being contacted with information about the companys financial status. Assure Law emerged on the legal services…
I am having terrible difficulties with the Dh150,000 in debt I have accumulated. I have loans from two banks and two credit cards from another two banks. I work as a customer service executive in Dubai and my monthly salary is only Dh5,000. Previously I could manage to make my monthly payments, but because of…