Airberlin, the European carrier in which Abu Dhabis Etihad Airways has a 29.2% stake, has unveiled a far-reaching restructuring of its business, which will see the company concentrate its core operations as a dedicated, focused network carrier serving higher-yielding markets, from its two key hubs in Berlin and Dusseldorf, with a core fleet of 75…
MUMBAI: A well-known New Delhi-based business family, whose two sons are non-resident Indians, feared that their wealth could be taxed not just in India, but also in the US. The fear has led them to restructure their family trust so that it attracts minimal tax. The family trust, which until now was based in India,…
Hedge funds have started to pull some of their business from Deutsche Bank, setting up a potential showdown with German authorities over the future of the countrys largest lender. As its shares fell sharply in New York trading, Deutsche was forced to issue a statement emphasising its strong financial position. European regulators and government officials…
BERLIN (AP) German lender Commerzbank says it expects to cut a net 7,300 full time jobs as part of a restructuring to concentrate on its core businesses. The bank said Thursday that some business activities would be discontinued which, combined with the digitalization and automation of some workflows, would amount to the loss of 9,600…
Commerzbank is to cut nearly 10,000 jobs and suspend its dividend as part of a wide-ranging restructuring plan. Germanys second biggest lender after Deutsche Bank said on Thursday it expected restructuring costs of 1.1bn (£948m) as it combined business operations and cut costs to offset the impact of low loan demand and negative European Central…
BERLIN (AP) ” German lender Commerzbank says it expects to cut a net 7,300 full time jobs as part of a restructuring to concentrate on its core businesses. The bank said Thursday that some business activities would be discontinued which, combined with the digitalization and automation of some workflows, would amount to the loss of…
The owner of the Daily Mail is considering a string of asset sales and potential restructuring options, after more than axing 400 jobs to protect its profitability. Daily Mail & General Trust (DMGT), which is listed on the stock exchange but controlled by the Harmsworth dynasty led by Lord Rothermere, said it had almost completed the…
BERLIN (AP) German lender Commerzbank says it expects to cut a net 7,300 full time jobs as part of a restructuring to concentrate on its core businesses. The bank said Thursday that some business activities would be discontinued which, combined with the digitalization and automation of some workflows, would amount to the loss of 9,600…
Etihad Airways partner airberlin is set to undergo a “far-reaching” restructuring including up to 1,200 job cuts and giving its rival Lufthansa up to 40 of its aircraft. Germanys second-largest airline said late on Wednesday that it would become a “leaner, fitter, stronger” carrier operating from its two key hubs in Berlin and Dusseldorf, with…
To employ excess aircraft and crew capacity, airberlin intends to provide up to 40 Airbus A320 family aircraft to the Lufthansa Group with up to 38 aircraft to be wet-leased under a six year wet-lease agreement.* The restructuring follows a comprehensive, bottom-up review of all operations, seeking to improve efficiency, limit seasonality and re-establish a…