Reuters. LEVERKUSEN – Bayer AG (ETR:) has ceased its phase III asundexian trial early based on the recommendation from the Independent Data Monitoring Committee (IDMC). The IDMC concluded that asundexian was less effective than apixaban, a current standard treatment, in preventing strokes in patients with atrial fibrillation at risk of stroke. This decision was announced…
Reuters. SAN FRANCISCO – OpenAI, a leader in artificial intelligence research, is currently in discussions concerning the potential reinstatement of Sam Altman as CEO. On Sunday, Altman garnered support from various stakeholders, including investors, employees, and executives during negotiations at the company’s San Francisco headquarters. The talks also considered changes to the board’s structure, drawing…
HARBOUR GRACE, NL, Nov. 17, 2023 /CNW/ – Harbour Grace Ocean Enterprises (“HGOE” or the “Company“), the marine vessel repair, refit and construction business based in Harbour Grace, Newfoundland and Labrador, announces that it obtained an Amended and Restated Initial Order (“ARIO“) from the Supreme Court of Newfoundland and Labrador (the “Court“) on November 17, 2023.…
HARBOUR GRACE, NL, Nov. 17, 2023 /CNW/ – Harbour Grace Ocean Enterprises (“HGOE” or the “Company“), the marine vessel repair, refit and construction business based in Harbour Grace, Newfoundland and Labrador, announces that it obtained an Amended and Restated Initial Order (“ARIO“) from the Supreme Court of Newfoundland and Labrador (the “Court“) on November 17, 2023.…
WASHINGTON, Nov 16 (Reuters) – Marc Allen will step down as Boeing’s (BA.N) chief strategy officer at the end of the year and leave the company in 2024 as the U.S. planemaker pares down its strategy arm. In a letter to employees on Thursday, Boeing CEO David Calhoun said the U.S. planemaker will not fill…
Moving Forward as a Stronger Company With a Significantly Improved Balance Sheet and Increased Financial Flexibility David Stetson and Jon Zinman Appointed to New Board of Directors DUBLIN, Nov. 14, 2023 /PRNewswire/ — Mallinckrodt plc (“Mallinckrodt” or the “Company”), a global specialty pharmaceutical company, today announced that it has completed its financial restructuring, emerged from…
Capital solutions and private credit partner Leonard Klingbaum and business restructuring partner Matthew Roose will present on a panel titled The evolving landscape of lender-on-lender tension at the Debtwire Restructuring Forum in Miami on December 6. The presentation will examine: How bankruptcy judges open market purchase or non-pro-rata debt exchange rulings are impacting creditors and…
Reuters. NEW YORK – General Electric Co. (NYSE:) has laid out the leadership framework for its impending corporate split, which will see the establishment of two distinct entities, GE Vernova and GE Aerospace, by the second quarter of 2024. In a strategic move to streamline its business, GE announced on Tuesday that Stephen Angel will…
Nov 14 (Reuters) – Tech company Yandex’s (YNDX.O) Dutch holding company is considering selling all its Russian assets in one go rather than just a controlling stake, three people close to the matter told Reuters, as parties race to finalise a deal before the end of the year. Yandex, which has been working on a…
Jones Day has strengthened its restructuring practice in Germany with the hire of a partner from Ashurst. Alexander Ballmann specialises in insolvency and restructuring proceedings, as well as distressed M&A transactions, and will join the US-based firms business restructuring and reorganization practice in Munich. Alexander has deep roots here in Munich, and is generally regarded…