GroupM, which has recently come up against business headwinds, is about to undergo some serious restructuring, or as parent WPP puts it, simplifying the offer. To get an idea at the motivation, look at WPPs already announced merger of Wunderman Thompson and VMLY&R to create the worlds largest creative group, VML. The move will bring…
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MOSCOW, Oct 27 (Reuters) – Nasdaq-listed Russian tech company Yandex (YNDX.O) on Friday said it had obtained one of the required approvals needed from the Russian government for its restructuring, which it hopes to complete by the end of 2023. Dutch holding company Yandex NV has been working on a corporate restructuring for months, hoping…
NEW YORK, Oct 26 (Reuters) – Corporate bankruptcies in the U.S. rose by 30% over the past 12 months, according to statistics published Thursday by the U.S. court system. Business bankruptcies saw a relatively sharp increase for the past year, rising to 17,051 new cases for the year that ended Sept. 30, 2023, but the…
NEW YORK, Oct 26 (Reuters) – Shares of FTI Consulting (FCN.N) rose by more than 16% to an all-time-high on Thursday after the business and communications consultancy reported third-quarter results that beat analyst estimates amid increased demand for its services. FTI Consulting’s revenue jumped 15.1% to $893.26 million while earnings per share rose 9% to…
Advanced Micro Devices (AMD), one of the worlds top maker of graphics processing units (GPUs), said it has been optimising and restructuring its China business recently but refuted online speculation that it is cutting hundreds of jobs in Shanghai, according to a statement on Thursday. Based on a corporate strategy adjustment, the company has recently…
Reuters. 3M (NYSE:) reported robust operational and financial results during its third quarter earnings conference call on October 24, 2023. The company achieved double-digit year-on-year growth in free cash flow for the third consecutive quarter and expanded margins across all four businesses. As a result, 3M revised its full-year adjusted earnings per share guidance to…
Tech Mahindra Q2 Results Live Updates: IT major Tech Mahindra is set to report its Q2 results today, 25 October, 2023. Most brokerages expect Tech Mahindras earnings in the second quarter of FY24 to remain soft with a sequential drop in revenue, net profit and margins as well. Similar to the June quarter, deal wins…
WASHINGTON, Oct. 24, 2023 (GLOBE NEWSWIRE) — FTI Consulting, Inc. (NYSE: FCN) today announced the appointment of David Fowkes as a Senior Managing Director within FTI Capital Advisors (member FINRA/SIPC), the firms wholly owned investment banking subsidiary, and a member of the global Aviation practice. Mr. Fowkes , who is based in Houston, joins FTI Capital…
Oct 24 (Reuters) – Canadian miner Teck Resources (TECKb.TO) said it was progressing “expeditiously” on the split of its coal and copper business after reporting a lower-than-expected quarterly profit on weak sales of steelmaking coal. The company also trimmed its full-year production forecast for copper, steelmaking coal, and molybdenum, sending its shares down 6% in…