The closing of stores is projected to save Macy’s about $US550 million by the end of the year. AP by Christopher Mele Struggling with sagging sales over another crucial holiday shopping season, Macy’s announced on Wednesday that it was eliminating more than 10,000 jobs as part of a continuing plan to cut costs and close 100 stores.…
Ben Hogan Golf sparked talk just days into 2017 that the company had gone out of business, with multiple reports of mass layoffs suggesting an imminent end to the brand’s revival. However, Ben Hogan Golf isn’t out of business. Instead, in response to rapidly spreading reports of slashing most of its staff, the company’s CEO,…
Barrick Gold may have to wait until at least the end of the month to close the $US1.3 billion sale of its half of the Kalgoorlie Super Pit, as its Chinese suitor conducts a corporate restructure amid talks to find a way through tough new capital control laws in China. Barrick has maintained radio silence…
More than one in five cash-strapped Brits spend every single day of their lives worrying about money, a new study reveals. The equivalent of 11 million people are financially stressed and struggling to balance household budgets. Young people aged 18 to 34 are suffering the most as more than half said they frequently worried about…
Reeling under a huge debt burden of Rs 50,000 crore, the sugar industry today asked the government to restructure debt and extend interest subvention on soft loans for another three years. A representation in this regard has been made to the PMO as well as Finance Minister Arun Jaitley recently by both private…
Get access to the best calls on Wall Street with StreetInsider.com’s Ratings Insider Elite. Get your Free Trial here. The Advisory Board Company (NASDAQ: ABCO) today announced the details of a restructuring plan in its health care business that is designed to focus the company’s health care technology and consulting capabilities on three key problem…
Amlak Finance, the Sharia-compliant real estate financier, said that it has renegotiated part of its 2014 debt restructuring deal that will help it raise more business following disappointing third-quarter earnings. The company, based in Dubai, said as part of the changes to the terms that it has also swapped Dh1.3 billion of the original debt…
In September 2016, Amlak approached its financiers to waive a number of restrictive covenants, which included adjustments to certain restrictions to allow for the companys mortgage book to be maintained at higher anticipated levels, funds to be raised under certain pre-agreed parameters, and restrictions on business origination to be removed. All of these restrictions will…
Tuesday 03 January 2017 Islamic mortgage provider Amlak Finance has announced the renegotiation of a restructuring deal with its financiers. The firm said it approached financiers in September to wave a number of restrictive covenants in its original restructuring terms from 2014. These included adjustments restrictions to allow for the companys mortgage book to be…
Chinese Internet company Tencent announced business restructuring and personnel changes for its QQ music business line. The company revealed that they will establish a QQ music business line, which will be responsible for the development and operation of music products, including QQ Music and Kg.qq.com, an online karaoke platform. This new QQ music business…