Shares in unloved support services provider Capita (CPI) climbed 7% to 49.5p after the firm unveiled a major restructuring plan involving large asset sales along with its full year results. RESULTS IN LINE The results themselves were in line with the expectations the firm set out at the half-year stage, with reported revenues down 10%…
Activision Blizzard Esports today will announce a restructuring that will result in the layoffs of about 50 people, moves that top executive Tony Petitti says are a result of how the group has had to re-invent itself amid the coronavirus pandemic. In an interview this morning with SBJ/TEO, Petitti didnt divulge specifics on what roles…
The chief executive of Capita will on Wednesday unveil a fresh restructuring of the embattled outsourcer alongside a plan to raise 400m from a string of disposals. Sky News has learnt that the company, which is responsible for collecting the television licence fee and recruiting Army personnel, will announce alongside annual results that it will…
The successive defaults of large companies such as Boashang Bank, Yongmei Group, Huachen Automotive and Tsinghua Unigroup recently sent shockwaves across the market. Restructuring lawyers discuss the defaults, how they feel the Chinese government will ensure orderly bankrupt At the start of 2020, bankruptcy and restructuring experts had predicted more bond defaults in China. A…
The automotive industry, globally, faced significant challenges before the onset of the coronavirus (COVID-19) crisis. On the eve of the pandemic, original equipment manufacturers (OEMs) were preparing for major change and the attendant disruption, as the transition to electric vehicles began to gain pace. Online searches in the UK doubled overnight, for example, when the…
March 16, 2021 08:00 ET | Source: Luckin Coffee Inc. Noteholders are Expected to Receive Approximately 91-96% of the Par Valueof the Existing Notes Luckin Coffee Maintains Strong Liquidity Position and Continues to Execute on Growth Strategy Company Actively Pursuing Several Options to Achieve Certainty of Funding BEIJING, March 16, 2021 (GLOBE NEWSWIRE) — Luckin…
Nokia on Tuesday said it plans to slash up to 10,000 jobs over the next two years as it forges ahead with a corporate restructuring. The layoffs are part of a cost-cutting effort that will help free up funds for investments in research and development along with 5G and other projects, the Finnish telecom giant…
However, unions argue the reforms will entrench the permanent casual and some crossbenchers have raised some concerns about the reforms. Mr Winter noted the well founded view that many businesses faced a back-pay liability from the rulings if they employed a casual for more than a single shift in the past six years, even if…
Thailands Central Bankruptcy Court has granted low-cost carrier Nok Air a one-month extension to file its rehabilitation plan. In a 15 March stock exchange disclosure, Nok chief Wutthiphum Jurangkool says the court allowed the carrier up to 15 April to submit its business restructuring plans. The troubled carrier had asked for a deadline extension, citing…
IRVING, Texas, March 15, 2021 /PRNewswire/ –Cicis announced today that it has successfully emerged from Chapter 11 protection, swiftly completing the process in less than two months. The reorganization, which has strengthened the corporate team, company operations and financial structure, coincides with the simultaneous D&G Investors acquisition of the brand. Cicis Enterprises entered into an…