Embracer Group has announced that the company will be restructing to make the company a leaner, stronger and a more focused, self-sufficient company. The restructuring will include layoffs and the termination, or pausing of some projects. TL;DR Key Points of the open letter: The closing of some studios and termination of unannounced projects. Where Embracer…
Jun 13, 2023 11.21am Dominos Pizza chief executive Don Meij downplayed the companys earnings downgrade on Tuesday as a cycle, after weak trading pushed it to close nearly 100 stores and give up on an expansion into Denmark. The business is fighting the inflationary war on two fronts: absorbing higher prices for ingredients, energy and…
Nomura Holdings plans to scale back a brokerage venture with messaging app operator Line Group amid a gloomier outlook for the business. As part of the restructuring, Japans biggest securities firm will take over the management of client brokerage accounts while the venture, Line Securities, will focus on foreign-exchange margin trading services, the companies said…
Jun 13, 2023 4.39pm Three years after paying $NZ1 (90c) to buy New Zealands largest publisher, former journalist Sinead Boucher is in the midst of the biggest strategic pivot in the history of her media group, Stuff. Ms Boucher, who bought the company from Nine Entertainment in 2020, has announced a major leadership overhaul and…
HMRC seems to be on a hot streak with its recent successful challenges to small to medium enterprises (SME) restructuring plans with the recent decisions in Re Nasmyth Group Ltd [2023] EWHC 988 (Ch) (“Nasmyth”) and Re Great Annual Savings Company Ltd [2023] EWHC 1141 (Ch) (GAS). In this article, we consider the questions: are…
Emmanuel Macron has been accused of pushing through the stealth nationalisation of a French private nursing home business by a group of American hedge funds. Paris-listed Orpea, which has been gripped by scandals including allegations that elderly residents were blocked access to adult nappies and food, is set to be seized by the French state…
By Ronnie Harui LINE Financial and Nomura Holdings have agreed to restructure their joint venture’s financial-services business, the two companies said in a joint press release on Monday. Given changes in the business environment and the profit outlook for LINE Securities’ services, LINE Financial and Nomura agreed to the business restructure after considering the optimal…
U.S. law firm Akin Gump Strauss Hauer & Feld said it has added partner Tarun Warriar to its special situations and private credit team in Hong Kong, less than a month after losing its restructuring head in the city to rival DLA Piper. Warriar was most recently a managing director at global investment firm Varde…
Normal text sizeLarger text sizeVery large text size ANZ Bank is keen to invest more capital into the part of the bank that services major domestic and overseas corporations, a sector that is benefiting from market volatility while returns from mortgages are being squeezed by stiff competition. Institutional banking, which deals with large corporate clients,…
DUBAI, UAE – The Wealth Today, in conjunction with the Forensic Risk Alliance (FRA), successfully co-hosted the highly anticipated Forensic & Restructuring Summit 2023 in Dubai this week. The gathering witnessed regulators, MENAs leading funds, top-tier law firms, auditors, and other essential stakeholders sharing insightful discussions about emerging trends in crypto crime, law enforcement, cross-border…