Airbus Group is in the midst of a period of financial uncertainty. In July, the European aviation giant announced $1.5 billion in charges due to setbacks in the companys A350 airliner and A400M military transport programs. In response, Airbus Group CEO Tom Enders will announce a major restructuring and cost cutting plan next month, the…
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here. Enphase Energy, Inc. (NASDAQ: ENPH) announced restructuring and cost savings initiatives that are expected to result in approximately $20 million of annualized operating expense savings. Enphase is reducing approximately 11 percent of its global workforce and eliminating…
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here. Novatel Wireless (Nasdaq: MIFI) announced that it has entered into an agreement with T.C.L. Industries Holdings, a Hong Kong company (TCL), whereby Novatel Wireless will sell to TCL its mobile broadband business (including its MiFi® branded hotspots…
Competitors might have been surprised to see JPMorgan bankers Ricardo Leoni and Daniel Pombo at the negotiating table earlier this year helping Brazilian mining company Samarco Mineracao SA restructure about $3.8bn in debt. Bloomberg News reports that after all, restructuring advice isnt what the bank is known for in Brazil. Leoni and Pombo are trying…
BlackBerry’s restructuring efforts save the company $156 million in interest payments that would have been due over the next 3 years. Move improves BlackBerry’s balance sheet. It’s primary creditor lending at a lower interest rate, goes to show that the company offers a reduced amount of risk, now. BlackBerry (NSDQ:BBRY) completed its debt restructuring earlier this month,…
Brickworks managing director Lindsay Partridge says Western Australia remains an attractive market despite setbacks during the year, when it undertook a major restructure of its Austral Bricks WA and Auswest Timbers businesses. The building materials supplier’s net profit was flat at $78.2 million on the back of a decline in building activity in WA. Brickworks…
Perella Weinberg Partners has announced that John Cesarz has joined the firm as a managing director in its advisory business. Based in New York, Mr. Cesarz will be a member of the the companys restructuring practice, Perella Weinberg said in a statement. He has more than 15 years of investment banking experience, and was most…
Managing director Lindsay Partridge said he thought real estate prices in Sydney wouldn’t increase much higher for this particular cycle. Jessica Hromas The managing director of Australia’s biggest brick supplier says real estate prices in Sydney are close to their peak in this cycle, and there’s not much more upside. Brickworks runs the Austral Bricks business…
Travis Hornsby Early in our relationship, my girlfriend let me know she had $124,000 in medical school loans. I never had to deal with student loans myself, as I had an undergraduate scholarship and did not have to go to graduate school. While helping her navigate through a myriad of options, I realized that choosing…
Halcon Resources Corp. (HK) has exited from its prepackaged chapter 11 bankruptcy agreement after completing its financial restructuring. Voluntary Bankruptcy Filing Halcon filed for voluntary Chapter 11 bankruptcy and entered a pre-packaged restructuring support agreement with stakeholder. The restructure was intended to eliminate approximately $1.8 billion of the companys debt, leaving it with around $1.09…