Struggling PacWest Offloads Real-Estate Lending Business To Roc360: Here's Why – Yahoo Finance

PacWest Bancorp (NASDAQ: PACW) has reportedly sold its Civic Financial Services unit, which specializes in lending money to landlords and investors, to Roc360, a real estate lending firm. PacWest has unrealized losses on its holdings of bonds and loans. When banks have to sell underwater assets to meet deposit withdrawals, they must record the losses, a prospect…

Webjet beats expectations with $150 million turnaround – The West Australian

Derek RoseAAP Webjet has delivered a $150 million turnaround as a restructuring of its business-to-business marketplace for the travel industry pays off. The online travel marketplace said on Wednesday it made $134.8 million in underlying earnings before interest, taxes, depreciation, and amortisation (EBITDA) in 2022/23, compared to a $15m underlying EBITDA loss the year before.…

Virgin Orbit auctions $36 mln in remaining assets as company folds – Reuters

WASHINGTON, May 23 (Reuters) – Richard Branson’s bankrupt satellite launch firm, Virgin Orbit, on Tuesday revealed that it was closing for good after a $36.4 million asset sale, including an agreement to sell the bulk of its Long Beach, California, headquarters to small-launch firm Rocket Lab USA Inc. (RKLB.O) Rocket Lab, the seasoned small-rocket company…

Niamh Jacob | Restructuring Advisory – Kroll

Since joining Kroll in 2011, Niamh has developed broad industry knowledge across many sectors, having worked on numerous complex assignments, with specific experience in the areas of financial advisory, due diligence, corporate restructuring, advisory and strategic reviews. She plays an important role in the project management of a number of high-profile property assignments consisting of…

Alibaba restructuring a potential long-term driver – Susquehanna By … – Investing.com Australia

Reuters. Alibaba’s (NYSE:) price target was cut to $160 from $175 by Susquehanna on Tuesday, with analysts maintaining a Positive rating on the stock. They believe the focus for Alibaba has shifted to restructuring, which is a potential long-term driver. “BABA continues to face pressure related to the macro and lingering pandemic impacts, though the…

Alibaba's cloud business to cut 7% staff as it prepares for a spinoff … – Investing.com Australia

Reuters. Alibaba’s (NYSE:) cloud division has started to cut jobs and could eventually reduce the total workforce by roughly 7%, Bloomberg News reports. The restructuring process has begun as the unit prepares for a spinoff within the next 12 months. The aim of the process is to streamline the once fast-growing business. An initial public…