By Tom Hals WILMINGTON, Del., June 27 (Reuters) – Lawyers for people injured by exploding Takata Corp air bags told a U.S. bankruptcy court judge on Tuesday that the company’s restructuring plan is being skewed to benefit automakers over victims. TK Holdings Inc, the U.S. business of Takata, filed for Chapter 11 bankruptcy on Sunday…
OSLO Shipping magnate John Fredriksen is trying to buy more oil tankers despite a glut of vessels afloat, a looming $10 billion in debt and two failed takeover attempts that have left his empire reeling. Continue Reading Below The self-made billionaire, who also is a major player in offshore oil drilling and salmon farming, says…
Lenders to Jaiprakash Associates Ltd., led by ICICI Bank, have given an in-principle approval to a debt restructuring plan, two people close to the development told BloombergQuint requesting anonymity. The restructuring would involve division of the nearly Rs 30,000-crore debt into three parts. The first portion of about Rs 10,000-crore debt would be moved off…
Sears Canada said on Monday it had received a notice from Nasdaq to delist the company’s shares. The trading would be suspended on July 3, 2017, unless the company requests an appeal to delist shares, Sears Canada said, adding that it will not appeal the decision. The Toronto-based retailer, which has been struggling with years…
Pitcher Partners managing director Leon Mok and executive chairman Bryan Hughes.Picture: Supplied Pitcher Partners has appointed executive director and taxation specialist Leon Mok as managing director of the accounting, audit and advisory firms growing Perth practice. Former managing director Bryan Hughes will step up to a new executive chairman role from July 1, where he…
By Julia Love | nSAN FRANCISCO Googles self-professed mission is to organize the worlds information. But a company known for engineering excellence is still trying to solve the very human problem of how to organize itself. Nearly two years ago, Google co-founder Larry Page announced the tech giant would be remade as Alphabet, a holding…
The administrator of the Ten Network has declared he expects the ailing television station to be saved. Key points: Creditors met to discuss options for restructure, voted for committee including Lachlan Murdoch, WIN TV’s Bruce Gordon and James Packer Administrator Mark Korda says cash-flow is positive and ratings are good, so network should be…
He said that earlier, the group had allowed all of its subsidiaries to manage their own businesses, but now the company had |restructured so that all opera-tions are managed by six group executives. Under the new system, there will be six business units. The unit overseen by the chief operating officer will be responsible for…
by Ashley Armstrong On San Francisco’s historic Union Square, the Macy’s building has stood proudly for decades. It covers an entire city block and claims the title of the second-largest department store in the United States, a West Coast destination for generations of shoppers. But as San Francisco has been transformed from a working port…
Independent supermarket and hardware store supplier Metcash said strong competition in the groceries sector would keep sales under pressure as it reported a 26 per cent slide in full-year net profit. The company, which supplies groceries to IGA supermarkets, reported net profit of $171.9 million for the year ending April 30, down from $216.5 million in…