KUALA LUMPUR: British American Tobacco Bhd (BAT) will restructure its business operations by sourcing tobacco products for the local market from other BAT factories regionally. BAT, in a filing to Bursa Malaysia today, said the restructuring exercise would involve shutting down factory operations in Virginia Park, Petaling Jaya, Selangor. “Our unit, Tobacco Importers and Manufacturers…
BENGALURU: Ola, after pulling the curtains on its online food and grocery delivery experiments, is restructuring its business to step up focus and investment into its core taxi service, according to multiple people aware of the matter. Ola is racing to bolster its thinning lead over Uber as well as curb diverting much of investors’…
BEIJING: China’s labour protections are coming under fire from high places as economic restructuring pits officials concerned about social stability against a lobby arguing inflexible policies are stifling job creation and suppressing wages. Company executives, especially at foreign or private firms, have long been critical of labour contract legislation and minimum wage laws that make…
BEIJING China’s labor protections are coming under fire from high places as economic restructuring pits officials concerned about social stability against a lobby arguing inflexible policies are stifling job creation and suppressing wages. Company executives, especially at foreign or private firms, have long been critical of labor contract legislation and minimum wage laws that make…
Updated March 10, 2016 6:23 p.m. ET Colgate-Palmolive Co. CL 0.37 % said Thursday it would look to cut more jobs as part of a restructuring program that was originally slated to end this year but has been extended through 2017. The consumer-product company said that a total net head-count reduction would fall within the…
Abengoa SAs management is reviewing the terms of a debt restructuring presented by creditors in a bid to avoid insolvency, according to a person with knowledge of the matter. The renewable energy companys chief executive officer and chairman are discussing the proposal with their advisers on Wednesday, said the person, who asked not to be…
MUMBAI/BANGALORE: Advitiya Sharma, 26, co-founder, of Housing.com has resigned from the company he started along with his IIT Bombay batchmates, including the ousted CEO Rahul Yadav. Sharma will start work on a new venture in a few months from now, he told TOI. The Mumbai-based real estate listing portal was touted as being one the…
ANALYSTS say that Bidvests decision to list its Foodservice and South African businesses separately is a sensible one. Most compellingly, Dirk van Vlaanderen, an investment analyst at Kagiso Asset Management, says it is the “most orderly way” for group CEO Brian Joffe to let go of the reins. Bidvests decentralised structure has encouraged “strong divisional…
Volkswagen AG Chief Executive Officer Matthias Mueller sought to win over workers to restructuring measures aimed at lifting margins at the embattled German carmakers namesake brand and helping weather the emissions-cheating scandal. After nearly six months of crisis and recent revelations that senior managers missed warning signs, workers are fighting to avoid footing the bill. That…
The National Assembly Finance Committee on Friday unanimously approved the draft of the Corporate Restructuring Companies Bill, 2016. Member National Assembly Qaiser Ahmad Sheikh chaired the meeting. The bill is aimed at establishing a new business regime under which corporate restructuring companies are to be incorporated, licensed and regulated by the SECP to perform the…