By John Revill ABB overhauls global Power Grids business, halts production at U.S, Swiss plants ZURICH (Reuters) – ABB <ABBN.S> is reorganizing part of its global power grids operations as the Swiss engineering group responds to the division’s sluggish profitability and falling orders. The move comes as ABB seeks to justify its decision last year…
ZURICH (Reuters) – ABB (ABBN.S) is reorganising part of its global power grids operations as the Swiss engineering group responds to sluggish profitability and falling orders in the business. ABB electrical transformer plant in St. Louis, Missouri, U.S. on July 6, 2017. REUTERS/David Lawder ABB said on Monday it was restructuring its operations in North…
RIO DE JANEIRO, Nov. 6, 2017 /PRNewswire/ — OI S.A In Judicial Reorganization (“Oi,” and together with certain of its affiliates, the “Company“), in compliance with Article 157, paragraph 4 of Law 6,404/76 and pursuant to CVM Instruction No. 358/02, hereby informs its shareholders and the market in general that, as described herein, the Company has…
Article Tools PPL Electric Utilities plans a corporate restructuring, but its not what you might think, the company says. In a filing with state regulators, Allentown-based PPL Electric wants to create two new holding companies to make it easier to move cash among its subsidiaries. The move, which is subject to regulatory approvals, will not…
Hills expects to return to trading profit in the second half of the 2018 financial year, the distributor announced during its 2017 annual general meeting, addressing moves to return to profitability after a disappointing run of losses in the years prior. We are making progress and Hills is heading in the right direction, Hills chairwoman…
Shares in real estate agency group McGrath have plunged to an all-time low after the business warned that its full-year earnings will be lower than expected. McGrath’s shares had plunged more than 22 per cent, or by 13.5 cents, to 47.5 cents by 1032 AEDT. Just after opening, at 1004 AEDT, they were trading at…
Shares in real estate services company McGrath have tumbled in early trade after the company announced a 25 per cent profit downgrade. McGrath says its financial underperformance is largely in company owned sales, impacted by lower volumes of listings and agent numbers. McGrath founder John McGrath. Photo: Edwina Pickles While the company has not provided an…
Westpac posted a 3% rise in full year cash profit to $8.06 billion, below the consensus forecast of $8.16, and kept the dividend flow to shareholders steady. Statutory net profit was $7.99 billion, up 7%, as lending grew 3% and customer deposits 4%. The bank declared a fully franked dividend of 94 cents a share,…
Sir Vince Cable has criticised the Royal Bank of Scotland boss, Ross McEwan, for his failure to show genuine contrition over the banks mistreatment of small business customers in the aftermath of the financial crisis. The Liberal Democrat leader also said the bailed-out bank must put aside more money on top of the £400m already…
FRANKFURT (Reuters) – Siemens’ chief executive has defended the German industrial group against government accusations that its planned job cuts could encourage right-wing populism in economically weak areas of the former East Germany. Siemens may cut thousands of jobs in an overhaul of its power and gas business, which is struggling with low demand for…