Thomson ReutersU.S. Treasury Secretary Jack Lew gives a news conference at the 2015 IMF/World Bank Annual Meetings in Lima By Megan Davies NEW YORK (Reuters) – Puerto Rico needs debt restructuring authority under U.S. bankruptcy law to address what the Obama Administration has previously called an “escalating crisis”, U.S. Treasury Secretary Jack Lew, said on…
(In 16th paragraph, corrects company name to Opportune LLP from Opportune LLC) By Jessica DiNapoli and Liz Hampton NEW YORK/HOUSTON Dec 14 Law firms and banks are adding staff to their restructuring practices from Houston to New York City to scoop up new business as oil prices sink near 11-year lows, pressuring energy companies to…
By Jof EnriquezFollow me on Twitter @jofenriq Toshiba is looking to sell a majority stake its medical diagnosis imaging business as part of a company-wide restructuring. The Japanese manufacturer of X-ray machines and MRI scanners is seeking outsider investments, including potential M&A transactions, though no deals are imminent. In a statement issued last week, Toshiba…
Toshiba Corp said on Monday it would book a record net loss this year and cut around 5 percent of its workforce as the sprawling conglomerate, reeling from a $1.3 billion accounting scandal, focuses on chips and nuclear energy. But analysts question whether streamlining can return the 140-year-old Japanese bulwark to dominance considering falling profit…
… Read the full article at: http://www.prnewswire.com/news-releases/millstein–co-expands-corporate-restructuring-business-300196302.html
… Read the full article at: http://www.prnewswire.com/news-releases/363240901.html
SINGAPORE: Embattled Japanese conglomerate Toshiba said on Monday (Dec 21) it is expecting an annual loss of nearly 550 billion yen (US$4.53 billion) and will be cutting jobs in its loss-making consumer electronics business as it embarks on a bold restructuring plan in an effort to move beyond an accounting scandal. The Tokyo-based company announced…
IVRCL jumped 5.01% to Rs 9.65 at 12:44 IST on BSE after the company said its board of directors decided to carve out the business of the company into two companies by way of scheme of arrangement. The announcement was made on Saturday, 19 December 2015. Meanwhile, the S&P BSE Sensex was up 146.32…
Dec. 21, 2015 4:50 a.m. ET So much for managing expectations. Over the weekend, The Wall Street Journal and other media reported that Toshiba TOSYY -2.26 % was set to forecast a $4.1 billion net loss for the fiscal year through March, sending shares down 9.8% on Monday. After the market closed, the Japanese conglomerate…
©Bloomberg Masashi Muromachi, Toshibas chief executive Toshiba has warned of its biggest annual loss of Y550bn ($4.5bn) as a result of massive costs involved in slashing 10,600 jobs and streamlining its lossmaking businesses. Analysts said that a speedy execution of the restructuring measures unveiled on Monday will be critical to restoring investor confidence tarnished by…