ANZ chief Shayne Elliot has been applauded for the incredible progress made on his great restructuring. But it won’t be a simple journey from here. Janie Barrett Blame BHP Billiton chief executive Andrew Mackenzie. His aggressive efforts to simplify the resources giant and make it a more focused and resilient business seems to have popularised…
We’ll review and adjust our overall structure with an eye towards streamlining the way we work to respond to the changing needs and demands of our customers, and we’ll examine and adjust our store fleet to reflect the evolving shopping habits of today’s consumer, CEO Kosta Kartsotis said in the companys earnings call. Closing stores…
Nov 3, 2016 6:44 AM [SYDNEY] ANZ Bank posted a 24 per cent drop in annual net profits Thursday on the back of restructuring costs as it aims to become “more agile” with less emphasis on Asia. The Australia and New Zealand Banking Group’s result for the year to September 30 came in at A$5.7…
Updated Nov. 2, 2016 7:24 p.m. ET Marvell Technology Group Ltd. said it plans to eliminate 900 jobs as part of a restructuring designed to narrow the chip makers focus on more profitable businesses. The company didnt provide a percentage, but its prior disclosure of 5,437 employees as of Jan. 30 suggests that more than…
ANZ Bank is considering selling off key parts of its wealth management business after it launched a strategic overview of the business because of disappointing returns. Announcing an 18 per cent fall in profit to $5.9 billion, due to one-off charges that had previously been flagged, it said the wealth review kicked off earlier this year had found…
The Wall Street Journal is changing the formatting of its print edition, combining sections and reducing the size of some coverage areas, The Journal itself reported Wednesday. The Journal will cut some of its coverage of arts, culture, and local news, but will have about the same amount of space for business and finance. There…
The Wall Street Journal is changing the formatting of its print edition, combining sections and reducing the size of some coverage areas, The Journal itself reported Wednesday. The Journal will cut some of its coverage of arts, culture, and local news, but will have about the same amount of space for business and finance. There…
Thomson Reuters Corp. said on Tuesday it will lay off about 2,000 workers, and sustain a charge of up to $250 million in the current quarter, connected to a “transformation” of its business. The company, which provides news and information services to professionals, also reported flat revenue and lower profit for the quarter. Thomson Reuters…
ST. LOUIS–(BUSINESS WIRE)–Emerson (NYSE: EMR) today reported results for the fourth quarter and fiscal year ended September 30, 2016. As a result of pending divestitures, results for our historical Network Power segment and for the Leroy-Somer and Control Techniques businesses previously included in our historical Industrial Automation segment are now being reported as discontinued operations.…
In addition, the Japanese electronics giant also saw weakness in its cash cow semiconductor division, with the unit swinging to a 4.2 billion yen loss in the second quarter from an operating profit of 34.1 billion yen in the same period last year. Sony said that foreign exchange effects as well as inventory write-downs of…