Shareholders of National Commercial Bank Jamaica Limited (NCB) approved the reorganisation of the group to create a holding company for the bank and its stake in Guardian Holdings Limited, an insurance conglomerate based in Trinidad and Tobago. “The next relevant step in the process is the sanction of the Supreme Court of Jamaica, to be…
Chilis Grill & Bars recent restructuring and layoffs were approached with an eye to keeping the management staff close to the restaurants and guests, the brand president said Wednesday. Kelli Valade, president of the Dallas-based Brinker International Inc. division since June, said the 1,606-unit casual-dining brand approached the restructuring to as a part of its…
PETALING JAYA: The move by one of Malaysias largest property developer Sime Darby Bhd to create three stand-alone businesses will help the group unlock the value through better appreciation of its individual business units. The conglomerate has announced that it plans to spin off its plantations and property businesses in separate listings on Bursa Malaysia,…
ISLAMABAD: The new business plan of the Pakistan International Airlines (PIA) should include strategies to improve safety, catering and entertainment, a minister said on Friday. Special attention should be paid to the loss making routes and with the passage of time new fleet of aircrafts would be added to offer world class quality services to…
NEW YORK, United States In a widely anticipated move, Condé Nast chief business officer and president of revenue Jim Norton has announced a sweeping restructuring of the company’s business side to align more closely with the model favoured by rival publisher Time Inc. as rumours continue to swirl that the business is being prepared for…
The owner of Tip Top Tailors, George Richards Big and Tall, Kingsport and other brands is asking for protection from its creditors as it restructures while facing tens of millions of dollars in debt. Grafton Fraser Inc. sought and was granted court protection under the Companies Creditors Arrangement Act this week, citing “lower than expected retail sales,…
Cimpress NV(NASDAQ: CMPR)announced fiscal second-quarter 2017 results Wednesday after the market closed, along with plans to “decentralize its organizational structure.” Shares are down more than 8% in after-hours trading, as Wall Street frowns upon continued profitability headwinds for the mass customization specialist. Continue Reading Below To be fair, going into this report Cim… Read the…
CHICAGO Caterpillar Inc , the world’s largest construction and equipment maker, forecast 2017 profit sharply below analysts’ estimates, hurt by sluggish demand in the construction and energy industries. Continue Reading Below Peoria, Illinois,-based Caterpillar has already slashed its workforce by more than 16,000 to cope with a slumping economy and said it would take another…
Endo International said today it will eliminate 90 full-time positions in a restructuring designed to lower costs, increase efficiencyand bring the company back into the black following recent losses and a plunge in its stock price. Endo said its restructuring would primarily affect its corporate and branded pharmaceutical R&D operations at its U.S. headquarters in…
Cimpress NV (NASDAQ: CMPR) announced fiscal second-quarter 2017 results Wednesday after the market closed, along with plans to “decentralize its organizational structure.” Shares are down more than 8% in after-hours trading, as Wall Street frowns upon continued profitability headwinds for the mass customization specialist. To be fair, going into this report Cimpress shares had all but recovered…