ublicly listed state-owned construction firm PT Wijaya Karya (WIKA) secured a debt restructuring deal worth Rp 24.2 trillion (US$1.54 billion) with 11 financial institutions through a master restructuring agreement (MRA), the company said in a statement released on Wednesday. The agreement covered 87.1 percent of WIKAs restructured debt, the company said, and was a step…
(Bloomberg) SAP SE shares jumped the most in more than three years after the German software company said its planning a restructuring that will affect about 8,000 jobs and increase its focus on artificial intelligence. The company projected that operating profit would rise to roughly 10 billion ($10.9 billion) next year as result. Most Read…
By Wayne Robinson | 22 January 2024 Industry hardware and consumables supplier Starleaton is in voluntary administration, with Simon Cathro and Andrew Blundell of Cathro & Partners, Sydney, now in charge. Starleaton in administration: Ben Eaton Creditors are invites to contact Cathro and Blundell to lodge claims for outstanding invoices, with a first meeting of…
Hong Kong CNN One of Europes most valuable companies is restructuring 8,000 jobs as it joins a growing list of firms shifting their focus to artificial intelligence. SAP (SAP), the enterprise software giant, announced Tuesday that it would spend 2 billion ($2.2 billion) this year on the transformation, including buyouts and retraining programs. The…
Wayward Brewing and the Local Drinks Collective (LDC) distribution company they launched with Batch Brewing Co in 2022 have exited a period of voluntary administration with the existing owners still in charge. The news comes just over three weeks after they entered voluntary administration, looking to return the two operations to a cash flow positive state, describing…
China, once synonymous with rapid economic growth, is grappling with a profound real estate crisis that emerged with Evergrande’s insolvency declaration two years ago. This event triggered a series of defaults and business losses, sending shockwaves through the nation’s economy. The aftershocks of Evergrande’s collapse have reverberated across the Chinese economic landscape. Several multibillion-dollar companies…
German software giant SAP has announced a company-wide restructuring plan to increase its focus on artificial intelligence, a move expected to cost $2.2 billion and affect 8,000 jobs. “In 2024, SAP will further increase its focus on key strategic growth areas, in particular Business AI,” SAP said in a statement Tuesday, adding that it aims…
(Bloomberg) — SAP SE is planning a restructuring that will affect about 8,000 jobs and increase the German software makers focus on artificial intelligence. The company projected that operating profit would rise to roughly 10 billion next year as result. Most Read from Bloomberg As part of the restructuring this year, SAP said it will…