Pursuing the mission of cracking down on shell companies and curbing money laundering, on September 20, 2017, the Government of India – Ministry of Corporate Affairs policy division – has notified the ‘Companies (Restriction on number of layers) Rules, 2017’ which restricts the number of subsidiaries for holding companies. The move will bring in major…
By Martinne Geller LONDON (Reuters) Reckitt Benckiser <RB.L> plans to reorganise its business into two distinct units, one for health and the other for hygiene and home products, as it tries to improve its flagging performance. The maker of Durex condoms, Nurofen tablets and Dettol cleaners announced the restructuring on Wednesday, along with its third-quarter…
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Gold miner Mintails, now in business rescue, had completed the restructuring of its operations with the agreement of unions, business rescue practitioner Dave Lake of Lake Strategic Solutions said on Tuesday. The miner is in talks with funders, black empowerment partners and regulators to meet conditions to implement the second phase of its rescue plan.…
Profits have reduced to a level where the combination of rent, annual interest payments of around £55m and maintenance bill of £24m are unsustainable when compared to the earnings generated by the business. Terra Firma has written off its entire investment in Four Seasons, although after the proposed restructuring would still own 80pc of the…
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Parliamentary banking group heavily criticises RBS chief executive Ross McEwan for what it describes as offensive comments relating to businesses placed in its former restructuring group. Ministers have slammed RBS chief executive Ross McEwan for what they describe as an extraordinary outburst against business owners in light of pressure for details of the banks former…
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Daimler announced on Monday it was preparing to revamp the companys structure to better prepare it for the future of electric vehicles, by legally separating its cars business from its underperforming trucks unit in an attempt to unlock value in both. Analysts say the move by the German group would be the first time a…
Posted on : Oct.17,2017 17:59 KST Modified on : Oct.17,2017 17:59 KST GM Korea CEO Kaher Kazem explains the business situation to reporters at the companys Bupyeong Factory in Incheon on Sept. 6 (provided by GM Korea) The subsidiary of the largest American automaker has lost 2 trillion won…