Israeli Prime Minister Benjamin Netanyahu said his government will do its utmost to blunt the impact of job cuts at Teva Pharmaceutical Industries Ltd. as the debt-saddled company carries out its restructuring plan. Netanyahu and Finance Minister Moshe Kahlon will meet this week with Teva Chief Executive Officer Kare Schultz to try to minimize the blow…
Networking and communications vendor Avaya has announced that it has successfully completed its debt restructuring and emerged from Chapter 11 bankruptcy nearly a year after filing. With a new board and leadership team, Avaya said it is now well positioned to deliver on its growth strategy and invest in contact centre and unified communications markets.…
Lower debt, smaller deficits and savings to help deliver room for personal income tax cuts are set to be revealed by Scott Morrison in a Budget update today. The Treasurer will show that total debt owed by the Federal Government will be $23 billion lower by 2020-21 on the back of a slightly stronger economy…
Shayne Elliott has rounded off a big year for the bank he is shrinking to greatness with a $1.5 billion capital return to shareholders. The timing plays out well ahead of the bank’s annual general meeting on Tuesday and means shareholders now have evidence Elliott can deliver on his commitment to return surplus cash to…
BALLINA business Kimberley Kampers has gone into voluntary administration, in what the company has admitted was a “highly unconventional” decision. A notice about the administration has been posted on the ASIC website. It came into effect on December 7 with Steven Nicols from Nicols + Brien appointed as the administrator. The first meeting of creditors…
Treasurer Scott Morrison is expected to reveal an improved budget bottom line when he hands down his mid-year review today, gaining a revenue windfall from a buoyant jobs market. Economists expect the 2017/18 budget deficit could be about $3 billion smaller at some $26 billion for the 2017/18 financial year compared to the $29.4 billion…
Teva might have been better off as a smaller company, new CEO says. The generic drugs powerhouse is now carrying a $34.7 billion debta result of a $40.5 acquisition of Actavis. New CEO Kåre Schultz presented a detailed restructuring plan on Thursday. Read more Israel goes on strike in support of Teva…
By DK Aggarwal In a major step to bring in reforms to Indias ailing banking system, the apex bank and the government are taking measures to clean-up the balance sheets, with the latest effort being the asset quality review conducted by the RBI in December 2015 and the promulgation of the Insolvency and Bankruptcy Code…
BY TONY SII Kerowagi MP Bari Palma has given an early open invitation to those who want to challenge the electoral seat to do so at the polls in the 2022 national election. He said this last Friday immediately after the National Court of Disputed Returns dismissed the election petition by Francis Siune who disputed…
Large swaths of Israels economy slowly returned to business on Sunday afternoon after a solidarity strike over pharmaceutical giant Tevas plan to lay off some 1,750 Israeli employees shut down the public sector across the country for four hours. On Sunday morning, Teva employees gathered outside the pharmaceutical companys offices in Jerusalem, in the coastal…