LONDON (Reuters) – Royal Bank of Scotlands (RBS.L) restructuring business did not turn around the vast majority of small businesses it worked with, Chief Executive Ross McEwan said on Tuesday in response to lawmakers questions. McEwan and RBS Chairman Howard Davies were being grilled by members of the Treasury Select Committee, which has challenged state-backed…
TOKYO — NEC will offer early retirement packages for 3,000 of the 80,000 people employed in Japan by group companies next fiscal year, as it turns to restructuring yet again to help revive stagnant earnings in a fiercely competitive market. Workers at the Japanese company’s nine domestic factories along with back-office staff will be asked to leave…
Caroline Binham in London January 30, 2018 Top executives at Royal Bank of Scotland say they will no longer fight the main conclusions and recommendations of a withering independent review of alleged mistreatment of small business customers by the bank. Sir Howard Davies, the chairman, said during a bruising hearing before MPs on Tuesday that…
Image copyright Getty Images Image caption RBS chief executive Ross McEwan told MPs a 2014 claim was ‘not right’ RBS boss Ross McEwan has admitted a statement he made claiming that bank’s Global Restructuring Group helped most of its business customers was wrong. He made the admission to MPs on the Treasury Select Committee on…
Royal Bank of Scotland chief executive Ross McEwan speaks during an interview with Reuters at Canary Wharf in London Thomson Reuters By Emma Rumney LONDON (Reuters) – Royal Bank of Scotland’s restructuring business did not turn around the “vast majority” of small businesses it worked with, Chief Executive Ross McEwan said on Tuesday in response…
Tue, Jan 30, 2018 – 5:07 PM UPDATED Tue, Jan 30, 2018 – 6:54 PM THE details of Noble Group’s restructuring plan have upset at least one major shareholder, who is calling on Singapore regulators to investigate the distressed commodity trader. Abu Dhabi’s Goldilocks Investment Company, which holds 8.1 per cent of Noble, on…
Tue, Jan 30, 2018 – 5:07 PM UPDATED Tue, Jan 30, 2018 – 6:54 PM THE details of Noble Group’s restructuring plan have upset at least one major shareholder, who is calling on Singapore regulators to investigate the distressed commodity trader. Abu Dhabi’s Goldilocks Investment Company, which holds 8.1 per cent of Noble, on…
KPIT Technologies has announced a restructuring process where they will, in step one, amalgamate KPIT Technologies with BirlaSoft and, in step two, demerge the engineering business of KPIT into KPIT Engineering Ltd and then at some point in time both of these entities will be listed. In an interview with CNBC-TV18, Kishor Patil, Co-Founder, CEO…
by Jack Farchy When Swiss commodity trader Andre & Cie went bust 17 years ago, Richard Elman pounced. He bought its Asian grains business for next to nothing as part of an acquisition spree that would make his own fledgling company, Noble Group, into Asia’s biggest commodity trader within a decade. Elman, 77, has watched…
Ailing department store chain The Bon-Ton Stores Inc. appears to be headed for a restructuring sooner rather than later. In a filing Monday with the U.S. Securities and Exchange Commission, Bon-Ton said it is engaged in discussions with debtholders regarding potential restructuring alternatives. While the company, co-headquartered in York and Milwaukee, noted there are no…