The cost faced by UK banks of restructuring operations because of Brexit could be as high as 15bn (£13.1bn) and is likely to put a material strain on those institutions’ earnings over the coming years, according to a new study. Research commissioned by The Association for Financial Markets in Europe and conducted by Boston Consulting Group and Clifford…
LONDON Restructuring operations around a hard Brexit could cost UK banks 15 billion (£13.1 billion) and add 40 billion (£35 billion) to tier one capital requirements, according to a new report. A report for the Association of Financial Markets in Europe (AFME), compiled by the Boston Consulting Group and Clifford Chance, suggests that Britains exit…
No sector was spared by the 1997 financial crisis, causing economic devastation and massive unemployment.SOMKID CHAIJITVANIT It has been 20 years since the financial crisis engulfed Thailand, sending shock waves to other Southeast Asian peers — including Malaysia, Indonesia and the Philippines. Widely believed to have started with the Thai baht devaluation on July 2,…
Despite its massive outperformanceL&T Finance Holdings gained 85% during the last one year compared to the 15% gain in the Sensexanalysts continue to be bullish on the counter. This is because the company has shown robust performance in the past four quarters. Despite the ongoing restructuring, L&T Finance Holdings’ gross loan increased 14% year-on-year (y-o-y)…
For the first time in seven years, the headcount of Samsung Electronics came down in 2016 mainly due to its restructuring in China, the company data showed on Sunday. The number of employees of the world’s largest smartphone and memory chip manufacturer fell 5.2 per cent to 308,745 in 2016 from…
Avoca Handweavers ratcheted up more than 4 million in restructuring and related costs in its last full year ahead of its sale to US contract catering giant Aramark. The food and lifestyle luxuries retailer, which was formerly owned by the Pratt family, employs more than 800 people across 12 locations in Ireland. The company fell…
The Dan Fierman era, which came with a focus on longform journalism, officially comes to close. MTV is restructuring once again. This time, the changes are focused on the MTV News department, which according to a source with knowledge of the situation is closing the chapter on what many saw as a bold and fascinating experiment in…
(PRESS RELEASE JOHANNESBURG) AngloGold Ashanti has made the difficult decision to begin a consultation process with employees in terms of section 189 and 189A of the Labour Relations Act, with respect to restructuring certain of its South African business units. This follows a review of the options to safely turn around the performance of these…
Leon Mok and Bryan Hughes of Pitcher Partners.Picture: supplied WA businesses are showing more resiliency and banks more leniency as the State battles the worst trading conditions in recent memory, according to insolvency veteran Bryan Hughes. Mr Hughes was yesterday named to a new role as executive chairman of Pitcher Partners in Perth as part…