The market was unnerved Thursday with the report by a management consultancy firm that proposed restructuring state-run Korea National Oil Corp.s money-losing overseas crude oil development business. The report by Deloitte Anjin — Korean member firm of Deloitte Touche Tohmatsu — on reforms in the overseas businesses of state-run energy companies was commissioned by the…
Proxy advisory firm Stakeholders Empowerment Services (SES) has asked the shareholders of construction and engineering major Gammon India to vote against the companys proposals to bring an outside investor in certain businesses and provide guarantees to lenders. The debt-laden company has put up a set of resolutions for shareholders approval that will…
Updated May 17, 2016 2:41 p.m. ET Novartis AG NVS 0.11 % said its head of pharmaceuticals, David Epstein, is to leave the company amid a restructuring that will split his role in two. The Basel, Switzerland-based drug giant said Mr. Epstein, who is American, had decided to leave the company to explore new challenges…
CALGARY Twelve months after emerging from a court-supervised restructuring, junior oilsands producer Connacher Oil and Gas Ltd. is again seeking court protection from creditors. The Calgary company announced Monday that it had asked the Court of Queens Bench for shielding under the Companies Creditors Arrangement Act while it tries to arrange a sale of its…
Chinas military underwent a major restructuring last year in a bid to prepare its military for conflict, the Pentagon said in its latest annual assessment of the Communist Party-controlled Peoples Liberation Army (PLA). The armed forces were reformed with new military regions, a new command structure, and updated strategies to better fight regional, high technology…
New plans will see the carrier’s various units fall under different CEOs By gulfadmin May 8, 2016 Abu Dhabi carrier Etihad Airways unveiled a new management structure on Sunday that will see president and chief executive James Hogan take the helm of a wider aviation group. Etihad Aviation Group chairman Mohamed Mubarak Al Mazrouei said…
May 12 Shenzhen Tempus Global Business Service Holding Ltd * Says it scraps asset restructuring Source text in Chinese: bit.ly/1OpcSqu Further company coverage: (Reporting by Hong Kong newsroom) Read the full article at: http://www.reuters.com/article/idUSL3N1894NM
Group boss Dieter Manz. Manufacturing equipment supplier Manz, which regards solar and energy storage as two of its three key strategic business segments, claims recent restructuring is starting to pay off, reporting some positive developments in its latest financial reports. Volume of orders received by the end of March stood at 96.3 million (US$109.6 million),…
May 11, 2016 4:40 p.m. ET Chaparral Energy Inc. is very close to a restructuring deal that will wipe $1.2 billion in debt from its balance sheet, said Richard Levy, lawyer for the Oklahoma oil and gas producer. Speaking at the companys bankruptcy-court debut Wednesday, Mr. Levy said unsecured bondholders have agreed to swap out…
TOKYO Japan’s Takata Corp. said it was considering a drastic review of its inflator division and the sale of non-core businesses its first restructuring steps since becoming embroiled in a global recall crisis over potentially deadly airbags. The announcement came as the auto parts maker booked its third annual loss in four years on an…