Continuing its efforts to recalibrate its business to focus on core operations, AmericanInternational Group Inc.AIG has entered into a strategic agreement with FWD Group, the insurance arm of Pacific Century Group. Per the agreement, American International will sell its Japan life insurance business AIG Fuji Life Insurance Company, Ltd. (AFLI) to FWD Group. The timing…
Restructuring within the Ruralco farm services company has eroded its 2015-16 after-tax profit to $4.2 million down from last financial years $14.1m. Although the rural agency and water services group posted strong results in its core traditional business, with rural supplies gross profits up 16 per cent to $118m and agency gross profits up 3pc…
Restructuring within the Ruralco farm services company has eroded its 2015-16 after-tax profit to $4.2 million down from last financial years $14.1m. Although the rural agency and water services group posted strong results in its core traditional business, with rural supplies gross profits up 16 per cent to $118m and agency gross profits up 3pc…
Agribusiness Ruralco is expanding its insurance and retail operations as it seeks to turn around a 69 per cent fall in full-year profit. Ruralco is acquiring a 50 per cent stake in insurer Ausure Consolidated Brokers and will merge it with assets of its Ruralco Insurance business. Also, wholly owned Ruralco subsidiary Roberts Ltd will…
Verso Corp., which operates a mill in Jay, is consolidating its administrative offices and restructuring the paper company into two divisions as it continues to seek ways to trim costs. The company intends to consolidate its corporate offices in Miamisburg, Ohio, the site of its former rival NewPages headquarters, early in 2017. Verso acquired NewPage…
Updated Nov. 14, 2016 11:52 a.m. ET American Apparel LLC is headed to the bankruptcy auction block next month with a deal that means a new home for its brands and hope for its Los Angeles-based manufacturing and distribution operations, but a big question mark for the fate of the retailers 110 stores. A beleaguered…
The boutique mergers-and-acquisitions shop Perella Weinberg Partners is buying Tudor, Pickering, Holt & Co. (TPH), a small energy-focused investment bank. TPHs energy practice will continue to operate under its name, while the combined entity will take on Perellas name. We recognise the preeminent role that TPH has built as an energy banker in North America,…
LONDON–Lonmin PLC (LMI.LN) Monday narrowed its fiscal-year net loss after restructuring its mines to offset weak prices of platinum group metals and said it’s now ready to pounce on new growth opportunities. The U.K.-listed miner, one of the world’s largest primary platinum producers, reported a net loss of $342 million for the year ended September,…
LONDON–Lonmin PLC (LMI.LN) Monday narrowed its fiscal-year net loss after restructuring its mines to offset weak prices of platinum group metals and said it’s now ready to pounce on new growth opportunities. The U.K.-listed miner, one of the world’s largest primary platinum producers, reported a net loss of $342 million for the year ended September,…
Erickson, the manufacturer and operator of the S-64 Air Crane fire attack helicopter, have filed for Chapter 11 bankruptcy. (Paul Sadler) The manufacturer and operator of the world renowned S-64 Air Crane fire attack helicopter, Erickson Incorporated, has voluntarily filed for Chapter 11 bankruptcy in the United States Bankruptcy Court for the Northern District of Texas,…