BERLIN/LONDON (Reuters) – A restructuring of Siemens (SIEGn.DE) declining turbines business could trigger labor unrest across the German industrial group, trade union IG Metall warned on Thursday as workers rallied in Berlin in protest over planned job cuts. Siemens employees and union members protest with a banner that reads “Siemens = social responsibility” outside a…
The network infrastructure and 4G deployment field has been buzzing with a flurry of recent activity and Ericsson ERIC has undoubtedly been quite in the thick of things. However, the company continues to grapple with low investments in mobile broadband and all-pervasive weak demand. The beleaguered infrastructure giant’s repeated earnings misses, eroding profitability and its…
PHILADELPHIA–(BUSINESS WIRE)–Radian Group Inc. (NYSE: RDN) today announced that it has completed the sale of Clayton EuroRisk, a provider of outsourced mortgage services in Europe, to a global investment firm. As a result, Radian no longer offers products and services for its Mortgage and Real Estate Services business in Europe. The sale of Clayton EuroRisk…
China Railway Rolling Stock Corp, the Chinese manufacturer of locomotives and rolling stock, has split its struggling freight train manufacturing business into two units to reduce competition and eliminate excess capacity, as part of a corporate restructuring. The Beijing-headquartered CRRC said on Monday that the new units will be created under the aegis of Heilongjiang-based…
ST. PAUL, Minn.–(BUSINESS WIRE)–Patterson Companies, Inc. (Nasdaq: PDCO) today reported consolidated net sales of $1.4 billion (see attached Sales Summary for further details) in its fiscal second quarter ended October 28, 2017, a decline of 2.3 percent compared to the same period last year. Adjusting for the effects of currency translation, sales declined 2.8 percent,…
One of Zetta Jets lessors and customers will provide up to $8.5 million in loans to help it restructure and exit Chapter 11 bankruptcy protection. The loan has been provided by Scout Aviation, a lessor, owned by financier Nathanial Rothschild. Scout is now officially known as a stalking-horse bidder and will compete against other companies…
The logo of BYD is seen on a car presented at the Auto China 2016 auto show in Beijing, April 29, 2016. [Photo/Agencies] China’s electric vehicle and battery maker BYD Co Ltd will restructure its businesses to increase competitiveness amid growing competition from rivals. Through the effort, it aims to bring its sales revenue to…
November 20, 2017 Andrew Hill Listen to this article Play audio for this article Pause 00:00 00:00 This is an experimental feature. Give us your feedback. Thank you for your feedback. What do you think? Ill use it in the future I dont think Ill use it Please tell us why (optional) … Read the…
Outgoing Perpetual chief executive Geoff Lloyd maintains active fund managers in Australia still have a bright future, despite the threat from the global rise of passive investment funds. Mr Lloyd, 49, on Monday announced he would step down at the end of this financial year, after a five-year period in which the industry has faced major structural changes. Perpetual…
SINGAPORE – Catalist-listed Chaswood Resources Holdings said on Monday (Nov 20) its wholly-owned Malaysian subsidiary has started restructuring proceedings on RM22 million (S$7.18 million) of credit facilities. Under the proposed debt restructuring, the unit, Chaswood Resources Sdn Bhd (CSRB), is holding discussions with its principal lenders – CIMB Bank Berhad, Malayan Banking Berhad and AmBank (M) Berhad…