By John Revill ABB overhauls global Power Grids business, halts production at U.S, Swiss plants ZURICH (Reuters) – ABB <ABBN.S> is reorganizing part of its global power grids operations as the Swiss engineering group responds to the division’s sluggish profitability and falling orders. The move comes as ABB seeks to justify its decision last year…
Published Nov. 6 at 6:03 pm The National Bank of Ukraine (NBU) in Kyiv on Oct. 4. Photo by Julia Berezovska/ Press office NBU Popular on social media The National Bank of Ukraine (NBU) has declared PJSC Bank Boguslav (Kyiv) insolvent, according to the central banks website. The NBU Board made corresponding decision No. 708-RSh/BT…
ZURICH (Reuters) – ABB (ABBN.S) is reorganising part of its global power grids operations as the Swiss engineering group responds to sluggish profitability and falling orders in the business. ABB electrical transformer plant in St. Louis, Missouri, U.S. on July 6, 2017. REUTERS/David Lawder ABB said on Monday it was restructuring its operations in North…
RIO DE JANEIRO, Nov. 6, 2017 /PRNewswire/ — OI S.A In Judicial Reorganization (“Oi,” and together with certain of its affiliates, the “Company“), in compliance with Article 157, paragraph 4 of Law 6,404/76 and pursuant to CVM Instruction No. 358/02, hereby informs its shareholders and the market in general that, as described herein, the Company has…
Boris Becker has denied that he is broke despite being declared bankrupt by a court in London and having claims against him for more than £50 million. The tennis champion, who won six grand-slam tournaments, told a Swiss newspaper that he had sufficient funds and sponsorship deals to pay his way. Becker, 49, once one…
BELGRADE (Serbia), November 6 (SeeNews) – Serbia’s government said agriculture minister Branislav Nedimovic has initiated talks with Indian companies Mahindra, Amalgamations Group and Sonalika on the privatisation of state-owned insolvent tractor maker Industrija Masina i Traktora (IMT). Nedimovic presented the opportunities for the production of tractors in Serbia to companies interested in the sector during an official…
Article Tools PPL Electric Utilities plans a corporate restructuring, but its not what you might think, the company says. In a filing with state regulators, Allentown-based PPL Electric wants to create two new holding companies to make it easier to move cash among its subsidiaries. The move, which is subject to regulatory approvals, will not…
WITHIN a three month period eight local businesses announced they were bankrupt or they were unable to pay their debts. According to the latest personal insolvency statistics released by the Australian Financial Security Authority, the total number of those in Coffs Harbour entering debt between July and September this year was 30. A total of…
The Delhi bench of the National Company Law Tribunal admitted an insolvency petition against a company for its failure to pay an employees dues on time in one of the first such cases under the new law. Nitin Gupta, a manager of the company, filed a plea under the Insolvency and Bankruptcy Code as an…
Hills expects to return to trading profit in the second half of the 2018 financial year, the distributor announced during its 2017 annual general meeting, addressing moves to return to profitability after a disappointing run of losses in the years prior. We are making progress and Hills is heading in the right direction, Hills chairwoman…