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…
Virgin Australia, like Qantas, is being hit by weak demand for domestic airline seats. The airline today posted an underlying loss before tax of $3.6 million for the first quarter of the financial year, a fall of $12.1 million on the same period the year before. The statutory loss after tax for the quarter was…
Virgin Australia has joined rival Qantas in announcing a tough start to the year, with soft demand pushing the number two carrier to a first quarter loss. Australia’s second-biggest airline has booked a net loss of $34.6 million for the three months to September 30, hurt by a weak domestic market and restructuring charges. That…
ROCHESTER, N.H.–(BUSINESS WIRE)–Albany International Corp. (NYSE:AIN) reported that Q3 2016 net income attributable to the Company was $13.1 million, compared to $9.7 million in Q3 2015. Q3 2016 income before income taxes was $20.9 million, including restructuring charges of $0.3 million and gains of $0.2 million from foreign currency revaluation. Q3 2016 income before income…
In the official announcement of President and CEO of Viacom International Media Networks Robert Bakish as acting CEO of Viacom, he also was named President and Chief Executive Officer of a new TV unit, Viacom Global Entertainment Group, which combines VIMN division, which he ran, with the Companys Music and Entertainment Group, overseen by Doug Herzog,…
ANZ CEO Shayne Elliott in Hong Kong on Monday after announcing the sale of the bank’s retail and wealth operations in five Asian countries to DBS Anthony Kwan Analysts have backed ANZ Banking Group’s decision to cut its retail and wealth footprint in Asia, saying it is a small but positive step for the bank’s…
Tata Chemicals on Tuesday said major restructuring activities undertaken at its United Kingdom (UK) and Kenya operations have resulted in ‘positive operating and financial results in recent times’, allaying concerns raised by ousted Tata Sons Chairman Cyrus Mistry. Mistry, who was replaced by the Board of Tata Sons on October 24, had…
Get access to the best calls on Wall Street with StreetInsider.com’s Ratings Insider Elite. Get your Free Trial here. Performance Sports Group Ltd. (NYSE: PSG) announced that, in order to facilitate a financial and corporate restructuring through a going-concern sale of substantially all of the Company’s assets, it has filed voluntary petitions under Chapter 11…
Updated Nov. 1, 2016 9:52 a.m. ET 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…
Lenders of household appliances maker Khaitan Electricals have invoked strategic debt restructuring and has fixed August 17, 2016, as reference date for the exercise. “At the Joint Lenders Forum (JLF) meeting, the lenders have invoked strategic debt restructuring (SDR) in the company and adopted the ‘reference date’ for the purpose as August 17,…