An initiative among local banks to bail out small and medium sized enterprises (SMEs) has helped to restructure some Dh7 billion of debt owed by more than 1,700 companies this year, the UAE Banks Federation (UBF) said. The federation also said the bankruptcy law approved this month by the countrys Cabinet is another measure that…
Airbus Group is in the midst of a period of financial uncertainty. In July, the European aviation giant announced $1.5 billion in charges due to setbacks in the companys A350 airliner and A400M military transport programs. In response, Airbus Group CEO Tom Enders will announce a major restructuring and cost cutting plan next month, the…
Business 19 September 2016by Erikka Askeland North-east accountancy firm Johnston Carmichael has poached a senior manager from PricewaterhouseCoopers (PWC) to boost its restructuring team in Aberdeen. Richard Bathgate, qualified insolvency practitioner, has been appointed as a director of restructuring at Johnston Carmichaels Aberdeen office, reporting to head of restructuring, Matt Henderson. Mr Henderson said: This…
A cyclist rides past Google Inc. signage near the entrance to the Googleplex headquarters in Mountain View, California. Photographer: Michael Short/Bloomberg YOUVE probably never heard of her but shes one of the most powerful women in Silicon Valley. Shes known for her grit and toughness which is lucky because she is tasked with bringing discipline…
China ‘draws up restructuring plans’ for Bohai Steel | Asian Legal Business Financial authorities in the city of Tianjin plan to convert a portion of debt-stricken Bohai Steel Group’s liabilities into bonds, according to rescue plans drawn … Read the full article at: http://www.legalbusinessonline.com/news/china-draws-restructuring-plans-bohai-steel/73187
Airbus chief executive Tom Enders is preparing to launch a new restructuring and cost-cutting plan next month to offset expensive delays to aircraft programmes and minimise losses on the A380 superjumbo. The restructuring will tighten Mr Enderss grip on the civil aerospace division which accounts for 70 per cent of the European companys revenue. He…
Rolls-Royce is cutting more than 200 management jobs, the latest in a series of losses as its chief executive attempts to turn around the British engineering giant. The most recent episode in Rolls lengthy restructuring under Warren East, who was appointed as chief executive last year, was announced to staff last week. Under Mr East and…
©EPA Tom Enders, chief executive of Airbus Group, is preparing to launch a new restructuring and cost-cutting plan next month to offset expensive delays to aircraft programmes and minimise losses on the A380 superjumbo. The restructuring will tighten Mr Enders grip on the civil aerospace division which accounts for 70 per cent of the European…
Elders is promising there will be no fire sale of the companys live export operations, despite this week deciding to quit its risky livestock shipping business to avoid a cost blowout hurting shareholders. Sliding profit margins in the once thriving live cattle export trade have convinced the farm services business to end the lease on one…
The decision of securities market regulator SEBI on listing of stock exchanges is being viewed as a welcome step with both the NSE and the BSE going ahead with their plans to float IPOs. The NSE, Indias largest stock exchange, plans to file its draft red herring prospectus by January 2017. Heading the NSE board…