Credit Suisse Group AG (NYSE:CS) is going to make changes to its Asia-Pacific region as the lender struggles with deteriorating investor confidence. The Swiss bank has decided to merge its equities and fixed-income, currency and commodities business in Asia-Pacific. According to Reuters, the current head of Asia-pacific equities business, Ali Naqvi will be in charge…
The coal-industry woes that have hit miners in Appalachian Ohio and some of the states power-generation industry struck Barberton this week, as Babcock & Wilcox Enterprises announced major layoffs. The company abruptly let go 113 workers, along with 13 more from Copley, who had been working in the companys business segment serving the coal-fired power…
Michael Epstein, a Deloitte Advisory principal with Deloitte Transactions and Business Analytics LLP, has been named Deloitte’s global managing director for restructuring services. He succeeds Andrew Grimstone, Deloitte UK partner, who will remain as head of Deloitte’s special situations advisory teams globally. Mike Rohrig, Deloitte Advisory partner and financial transactions practice leader with Deloitte &…
In 2015, the Senate committee that oversees education held a hearing on ways colleges could help students amass less debt. With postsecondary debt hovering at around $1.3 trillion, any little bit can help. One of the suggestions from Senator Lamar Alexander, the chair of the committee, appeared counterintuitive: have students take on more coursework earlier…
NEW YORK, July 1, 2016 /PRNewswire/ — Kirk Blair, a Deloitte Advisory partner with Deloitte Financial Advisory Services LLP, has been named Deloitte Advisory Corporate Restructuring Group leader. He succeeds William Snyder, who will leave Deloitte in July to pursue other ventures. View photo . “Our organization is committed to investing in and growing our restructuring…
BOC’s restructuring exercise is aimed at seizing business opportunities under the China-advocated One Belt, One Road initiative. The Reuters photo shows Hong Kong Exchanges flag, Chinese national flag and Hong Kong flag outside the Hong Kong Stocks Exchange. KUALA LUMPUR: Bank of China Ltd (BOC) has kickstarted the restructuring of its Asean operations by selling…
Babcock & Wilcox Enterprises (NYSE:BW) -9.6% premarket after cutting its 2016 earnings guidance and saying it will cut 200 jobs as part of a restructuring of its coal-fired power generation business. BW says its restructuring plan is a proactive measure to prepare for a projected reduction in U.S. coal generation, as it anticipates U.S. coal…
June 28, 2016 08:30 AM Eastern Daylight Time CHARLOTTE, N.C.(BUSINESS WIRE)Babcock & Wilcox Enterprises, Inc. (B&W) (NYSE:BW) today announced actions to proactively restructure its traditional power business in advance of a lower projection for U.S. coal generation and has updated guidance for 2016 to reflect: These changes will allow us to continue to provide outstanding…
The Cape Town headquarters of Anglo-South African financial services company Old Mutual. File picture: Mike Hutchings. Credit: REUTERS It said its preferred option after splitting into four would be to have two of the new firms listed on both the London and Johannesburg exchanges. Old Mutual said in March it planned to break itself into…
SEOUL, June 29 (Xinhua) — Confidence among South Korean businesses stayed low this month on worries about the ongoing restructuring in shipbuilders and shipping firms, central bank data showed on Wednesday. The business sentiment index (BSI) for manufacturers stood at 71 in June, unchanged from the previous month, according to the Bank of Korea (BOK).…