Symantec said it plans to take a series of cost reduction actions over the next nine months to address residual costs that remain after the platform security vendor’s divestitures last year. The company said that its board of directors has approved US$50 million in restructuring expenses in connection with a plan to reduce Symantec’s global…
Rolls-Royce said its restructuring efforts begun in February are starting to show results. The companys Power Systems division saw a stand out performance during the first half of the year, according to CEO Warren East, who made the comment during a conference call about the companys earnings. We continued to make good progress in the…
| 7 mins ago Ad agency network MDC Partners called its financial performance for the first half of 2018 poor in an earnings call today but sounded more optimistic about the last six months of the fiscal year. Executives focused on several recent moves to reduce costs and improve efficiency, along with major hires including,…
Perth inner city live music venue The Brisbane Hotel has in new hands after the previous owner went into voluntary administration. Family-run hospitality and tourism operator The Prendiville Group has taken over. Its venues include the Cottesloe Beach Hotel, Hotel Rottnest, Tradewinds and the Norfolk in Fremantle as well as Sandalford Wines in the Swan…
Provogue has its own garment manufacturing facilities in Daman and in Baddi, Himachal Pradesh. Photo: Mint Mumbai: The Mumbai bench of the National Company Law Tribunal admitted Provogue (India) Ltd for insolvency resolution on Thursday, making it the fourth company from the textile and garment sector to attempt loan resolution in bankruptcy courts. Reid &…
Investors in a $1.6 billion-Abraaj Group fund have hired advisory firm Alvarez & Marsal Holdings to help recover money owed by the floundering Middle Eastern private equity firm, people with knowledge of the matter said. The New York-based company will represent Abraaj Private Equity Fund IVs backers in talks with liquidators as they seek to…
Its perhaps a meaningless milestone, but humans love big, round numbers. And when Apples share price hit $207.05 today, it became the first U.S. public company to reach a $1 trillion market capitalization. Not bad for a company that was on the verge of insolvency when its late founder Steve Jobs came back to rescue…
Video PlayerClose BERLIN, Aug. 2 (Xinhua) — Siemens has published mixed earnings data for the second quarter (Q2) of 2018 on Thursday, shortly after a new round of restructuring was announced at the German industrial corporation. Gross revenue at the DAX-listed company fell by an annual rate of 4 percent to 20.5 billion euros (23.8…
Debt-free is the new American dream (Source: Shutterstock) According to the latest data from the NY Fed, total consumer debt is now at an all time high of $13.2 trillion. That equates to an average of over $40,000 owed by every single American across mortgages, student loans, auto loans, and credit cards. So much debt…
Impala Platinum the worlds second-largest platinum miner is cutting its future production to 520000oz of platinum and slashing the number of its mines to six from 11 with 13000 jobs to go within two years. Implats is the latest mining company to announce a major restructuring shaft closures and job cuts to cope with a…