(Reuters) – General Electric Co (GE.N) slashed its quarterly dividend to a penny a share, promised to restructure its power unit and said it faced a deeper accounting probe as new Chief Executive Larry Culp took his first steps to revive the struggling conglomerate. GE said the U.S. Securities and Exchange Commission and Department of…
Troubled commodity trader Noble Group, which almost blew up in an accounting and debt scandal before pushing through a dramatic financial restructuring in August, will report another loss in the third quarter. The Singapore-listed commodity house, which was founded by British born trader Richard Elman, is expected to report an overall net loss of $90-$115m,…
| 5 hours ago The J.M. Smucker Company has concluded a holding company-based review by assigning both creative and media work for many of its best-known U.S. brands to Publicis Groupe. According to multiple sources with knowledge of the matter, the product lines involved include the companys many jams, jellies and peanut butters, as well…
BOSTON, Oct 28 (Reuters) – Bank of Nova Scotia (Scotiabank) has hired four people for its metals business in New York after losing six traders and salesmen who defected to rival Canadian lender Bank of Montreal (BMO) last month, sources said. The move signals that Scotia, whose Mocatta metals arm has for years been the…
Sun, Oct 28, 2018 – 7:02 PM CATALIST-LISTED gold miner Wilton Resources Corporation on Saturday announced a proposed restructuring exercise that would involve subsumingPT Renuka Coalindo Tbk, anIndonesia Stock Exchange listed company that deals in wholesale and export trading, especially in mining commodities. This would take place largely through a share swap exercise between the…
LAKE FOREST, Ill.–(BUSINESS WIRE)–Tenneco Inc. (NYSE: TEN) announced today it will close its original equipment (OE) ride control plants in Owen Sound, Ontario and Hartwell, Georgia as part of an initiative to realign its manufacturing footprint to enhance operational efficiency and respond to changing market conditions and capacity requirements. The company expects to begin transferring…
ARLINGTON, Va., Oct. 25, 2018 /PRNewswire/ — QED Group, LLC (QED)announced today it has completed a two-year corporate restructuring process ahead of schedule with the promotion of Patrick Lohmeyer to Chief Operating Officer. Based in Arlington, VA, QED works with leading government agencies, organizations and global corporationsto design and implement cutting-edge, data-driven solutions that address…
CHICAGO–(BUSINESS WIRE)–Roosevelt University, a leading higher education institution dedicated to social justice and to making higher education available to all students who qualify academically, regardless of their background, today announced that it has completed a successful debt restructuring that provides significant relief from debt service obligations and allows the University to reallocate funds towards completion…
PTC revealed an $18 million restructuring charge on Wednesday that the company said will allow it to invest more in the industrial Internet of Things, augmented reality and other growth opportunities. The Needham, Mass.-based industrial software company said the $18 million charge set for fiscal year 2019, which began in October, is the result of…
SWORDS, Ireland–(BUSINESS WIRE)–Highlights (Third quarter 2018 versus third quarter 2017, unless otherwise noted): Continuing EPS of $2.11, up 50 percent; adjusted continuing EPS* of $1.75, up 22 percent Reported and organic bookings* up 11 percent; sustained growth in Climate and Industrial … Read the full article at: https://www.businesswire.com/news/home/20181024005200/en/Ingersoll-Rand-Reports-Strong-Third-Quarter-2018-Results