Reuters. Sibanye-Stillwater, the South African mining company, has revealed its Q3 results, indicating a mixed performance across its global operations. The company’s South African platinum group metals (PGM) operations, a significant contributor to its financial performance, are facing restructuring that may affect over 4,000 jobs. This follows the closure of two shafts and comes as…
Reuters. A.P. Moeller-Maersk, a Danish shipping giant listed on the Copenhagen stock exchange, intends to eliminate approximately 10,000 jobs by the end of next year as part of a $350 million restructuring initiative. The job cuts, mostly planned for 2023, aim to reduce the workforce from 110,000 to under 100,000 in 2024. This move follows…
QIWI Provides Update on Corporate Restructuring NICOSIA, CYPRUS – November 3, 2023 – QIWI plc (NASDAQ and MOEX: QIWI) (“QIWI” or the “Company”), an innovative provider of cutting-edge payment and financial services, today announced it has received from the NASDAQ Hearing Panel (the “Panel”) the extension of the period for completion of the restructuring process…
NEW YORK, Nov. 3, 2023 /PRNewswire/ — Jay Goffman, the former Global Head of Restructuring at Skadden Arps and Steve Smith, the former Global Head of Restructuring and Leverage Finance at UBS announced the launch of their boutique restructuring advisory firm Smith Goffman Partners LLC. Smith Goffman Partners is the only restructuring advisory firm that will…
Bad Shepherd Brewing Co., Cheltenham based craft brewery and brewpub operator, has successfully emerged from voluntary administration after creditors today approved a financial restructuring of the business. Business owners Dereck and Diti Hales appointed DBA Advisory as Administrator on 10 October 2023. This was a necessary step to deal with financial losses from a difficult…
Shares in Fortinet Inc. fell by as much as 17% in late trading today after it came up short on revenue and outlook and announced a company restructuring to sharpen its focus on core growth areas. For its fiscal third quarter that ended Sept. 30, Fortinet reported adjusted earnings per share of 41 cents, up…
Bombardier executives are pointing to their companys third-quarter financial performance as evidence that a turnaround plan started several years ago is working. That plan has seen Bombardier divest its commercial aircraft and rail business, leaving it solely focused on producing and selling business jets. Our plan is working, chief executive Eric Martel said on 2…
Bombardier executives are pointing to their companys third-quarter financial performance as evidence that a turnaround plan started several years ago is working. That plan has seen Bombardier divest its commercial aircraft and rail business, leaving it solely focused on producing and selling business jets. Our plan is working, chief executive Eric Martel said on 2…
Banks across the globe have been undertaking restructuring efforts to focus more on core operations. While these efforts will be fruitful in the long run, they have resulted in higher costs, hurting banks bottom-line growth. Moreover, the uneven economic recovery in developed and emerging nations is expected to hurt revenue growth for the companies within…
Bloomberg reports that business restructuring, specifically global mergers and acquisitions (M&A) activity, hit $5.9 trillion in 2021, crushing the previous record of $4.2 trillion set in 2015. Grant Thornton (GT) LLP has since estimated that global M&A activity slowed in 2022 to $3.7 trillion. Most analysts are predicting that we could see a return to…