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…
Reuters. Tata Steel Ltd, under CEO and MD T V Narendran and CFO Koushik Chatterjee, posted a consolidated loss of Rs 6,511 crore ($871 million) in Q2FY24, primarily due to restructuring charges in its UK operations and decreased sales. This represents a 7% decline in revenue compared to the same period last year. Despite these…
Reuters. Tata Steel Ltd, under CEO and MD T V Narendran and CFO Koushik Chatterjee, posted a consolidated loss of Rs 6,511 crore ($871 million) in Q2FY24, primarily due to restructuring charges in its UK operations and decreased sales. This represents a 7% decline in revenue compared to the same period last year. Despite these…
Tata Steel Ltd on Wednesday reported a whopping Rs 6,511-crore consolidated loss in quarter ended September 30, 2023 hurt by charges related to restructuring at its UK operations and lower sales and price realisations. It reported consolidated net profit of Rs 1,297 crore in the year-ago period. The steelmaker said its consolidated revenue declined 7%…
BetMakers says the successful restructure of its Global Tote operations has allowed it to adopt a simpler and more aligned business focus, while the group has also reported revenue growth for Q1. BetMakers set out plans for an operational restructure in May last year with the aim of reducing costs. This included reducing its total staff headcount…
BENGALURU, Nov 1 (Reuters) – Indian steelmaker Tata Steel (TISC.NS) reported a loss for the second quarter on Wednesday, hurt by charges related to restructuring at its UK operations and lower sales and price realisations. The company’s consolidated net loss came in at 65.11 billion Indian rupees ($782.24 million) for the three months ended Sept.…
Abu Dhabi, UAE: His Excellency Younis Haji Al Khoori, Undersecretary of the Ministry of Finance, chaired a meeting of experts from the Consultative Industry Group (CIG) Financial Reorganization Committee. The meeting included a number of specialists in bankruptcy and financial restructuring from global and local offices and companies. He praised the role of experts in…
One of Chinas largest-ever debt restructurings is in trouble before it even got going. China Evergrande Group was declared to be in default in late 2021, the highest-profile casualty of a broader crisis in the countrys property development industry. The government has stepped in to manage the overhaul, quelling fears of a disorderly collapse that…
WeWork creditors are battling over the remains of a company once valued at over $40 bil Creditors of defaulting shared office provider WeWork are now fighting over control of the company as it enters restructuring, with that story leading Mingtiandis headline roundup today. Also making the cut is a final adjournment of China Evergrandes liquidation…
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