Media Ad agency BENlabs has laid off staffers and named a new CEO as the company restructures Amanda Perelli 2024-06-05T00:15:19Z Share icon An curved arrow pointing right. Share Facebook Icon The letter F. Facebook Email icon An envelope. It indicates the ability to send an email. Email Twitter icon A stylized bird with an open…
Normal text sizeLarger text sizeVery large text size The editor whose news website broke the Brittany Higgins rape story has lost her job in a major corporate shake-up at the top of News Corps Australian publishing empire. The shock departure of Lisa Muxworthy, the highly regarded editor-in-chief of news.com.au, blindsided staff who work at the…
CalAmp develops business software designed to track vehicles and improve company logistics. (CalAmp via YouTube) [Stay on top of transportation news: Get TTNews in your inbox.] CalAmp Corp., which develops business software designed to track vehicles and improve company logistics, has filed bankruptcy to complete a lender-backed plan to cut debt. Publicly traded CalAmp filed…
One in fifteen European companies are facing significant pressure to restructure this year after being hit by higher financing costs and weakening consumer demand, with Germany, Austria and the Nordics particularly under strain, according to a report by Boston Consulting Group. Around a third of businesses in Germany and Austria also face what BCG dubs…
In addition to the production sector, which should meet the demand for globally trending goods and services such as the silver economy (catering to an ageing society), greater emphasis must also be placed on the green economy, clean energy, and sustainable tourism. The restructuring of the Thai economy must develop to meet global demands. It…
Alibaba Group Holding is selling its entire stake in e-commerce branding solutions provider Baozun, as the Chinese technology giant continues its corporate restructuring amid increased industry competition. Hangzhou-based Alibaba, owner of the South China Morning Post, on Thursday signed a deal to sell 26.5 million Baozun shares to Champion Kerry for US$21.8 million, according to…
Tradies and homeowners are nervous that a building company is on the verge of collapse after the construction firm lost its licence and appointed restructuring partners. The state building regulator, the Queensland Building and Construction Commission (QBCC), suspended the licence of Preferred Homes earlier this month, on May 7. Brisbane-based Preferred Homes had racked up…
The administrators of insolvent Bonza (AB, Sunshine Coast) have secured a two-month extension of their appointment as voluntary administrators of the airline. Australia’s Federal Court granted the extension in a May 27 hearing. Hall Chadwick said it needed the extra time to sell the business and its assets, which it claims is in the best…
Practical guidance on dealing with distress Soaring energy prices, labour shortages and the cost of living crisis has led to a sharp rise in inflation across Europe and businesses are feeling the impact. When the pandemic hit almost three years ago, businesses in every sector and geography had to transition to new ways of operating,…
Truist Financial TFC remains well-positioned for revenue growth on the back of decent loan demand, high rates, strategic restructuring initiatives and fee income growth. However, elevated expenses and weakening asset quality remain headwinds. TFCs net interest income (NII) growth seems encouraging. While the metric declined in the first quarter of 2024, it experienced a five-year…