Neil Hume in London January 25, 2018 Crisis-hit commodity trader Noble Group is moving closer toward a debt restructuring deal with its lenders. The companys chairman Paul Brough told shareholders at a meeting in Singapore on Thursday that talks had been constructive and were moving forward. Im hopeful that we will reach a conclusion at…
SINGAPORE (Reuters) – Struggling commodities trader Noble Group Ltd is having constructive talks with creditors to restructure its debt and is hopeful of a deal in the near future, the companys chairman said. Various talks have been going for a couple of months. They have been constructive, Paul Brough, a restructuring specialist who was appointed…
OSLO, Jan 25 (Reuters) – Drilling rig company Seadrill has again postponed an initial hearing on its restructuring plan, this time by six days to Feb. 7, the company said in a U.S. court filing on Wednesday. Once the largest drilling rig operator by market value, Seadrill filed for bankruptcy protection in Texas on Sept.…
BuzzFeed in going through a big restructuring, especially for its entertainment content. CEO Jonah Peretti says BuzzFeed will experiment less with mid-form content that feels stuck in the middle. Former HP CEO Meg Whitman just signed on to be the CEO of a company looking to go into mid-form video. BuzzFeed CEO Jonah Peretti is…
Limiteds () restructuring initiatives and global demand for resins is driving strong growth across its businesses. The company develops and produces sustainable and eco-friendly bioplastics that are used primarily in the packaging industry. The groups patented products were instrumental in driving fiscal 2017 revenues of $22 million across its businesses in Australia,…
Rob Sussman, Integr8’s joint-CEO. BCX-owned ICT management and managed services company Integr8 is restructuring its operating model. In a short statement to ITWeb this morning, Telkom subsidiary BCX said: “To increase sustainability and profitability, the current Integr8 operating model is being restructured to align with the current BCX operating model.” According to BCX, the purpose…
General Electric warned on Wednesday that 2018 will be another challenging period for GE Power and could shape up to be an even worse year than expected for the embattled business unit. GE’s power unit, which focuses on selling and servicing equipment to power plants, is one of three units the conglomerate is focusing on…
Baxters Food Group has booked a £675,000 loss for the 2017 year to April after booking £9.5 million in exceptional items and £12 million in finance costs. The group said one-off costs were racked up launching a new customer own brand business in the US, restructuring its operations in Canada and Australia and cutting headcount…
Image copyright Getty Images Kleenex-maker Kimberly-Clark has said it will close or sell 10 manufacturing plants and cut at least 5,000 jobs – about 12% of its workforce. The move comes as the Texas company struggles to lift sales. In the fourth quarter of 2017, sales rose by just 1%. Kimberly-Clark said the restructuring would…
By Frederic Tomesco January 23, 2018, 10:08 AM EST Bombardier Inc. expects to see another year of 10 percent sales growth from its train segment as the Canadian manufacturer holds the line against bigger rivals from China and Europe. Rail-equipment orders outpaced deliveries last year, and the trend is likely to continue in 2018 with…