Teva Pharmaceutical Industries Ltd. jumped 18.7% on the New York Stock Exchange between Thursday market opening and Friday market close, following the company’s official announcement regarding its reorganization plan, including the layoffs of 14,000 employees. The increase saw Teva regain its status as the highest valued Israel-based company in terms of market capitalization, with a…
DetailsThe Court of The Hague in The Netherlands has declared Interstate Tire & Rubber BV insolvent. According to an official document, the court reached this decision on 30 November 2017. Proceedings will be conducted under case number F.09/17/429, with J.A.M. Reuser appointed as case curator. Further official information regarding the insolvency has not yet been…
DetailsMICHAEL Cyran was 24 when his skull cracked against concrete and his life changed forever. On the one hand, he was lucky to pull through after doctors gave him a 30 per cent chance of survival following emergency surgery at Royal Perth Hospital which involved removing part of his brain in the early hours of…
DetailsIsraeli Prime Minister Benjamin Netanyahu said his government will do its utmost to blunt the impact of job cuts at Teva Pharmaceutical Industries Ltd. as the debt-saddled company carries out its restructuring plan. Netanyahu and Finance Minister Moshe Kahlon will meet this week with Teva Chief Executive Officer Kare Schultz to try to minimize the blow…
DetailsNetworking and communications vendor Avaya has announced that it has successfully completed its debt restructuring and emerged from Chapter 11 bankruptcy nearly a year after filing. With a new board and leadership team, Avaya said it is now well positioned to deliver on its growth strategy and invest in contact centre and unified communications markets.…
DetailsLower debt, smaller deficits and savings to help deliver room for personal income tax cuts are set to be revealed by Scott Morrison in a Budget update today. The Treasurer will show that total debt owed by the Federal Government will be $23 billion lower by 2020-21 on the back of a slightly stronger economy…
DetailsShayne Elliott has rounded off a big year for the bank he is shrinking to greatness with a $1.5 billion capital return to shareholders. The timing plays out well ahead of the bank’s annual general meeting on Tuesday and means shareholders now have evidence Elliott can deliver on his commitment to return surplus cash to…
DetailsBALLINA business Kimberley Kampers has gone into voluntary administration, in what the company has admitted was a “highly unconventional” decision. A notice about the administration has been posted on the ASIC website. It came into effect on December 7 with Steven Nicols from Nicols + Brien appointed as the administrator. The first meeting of creditors…
DetailsTreasurer Scott Morrison is expected to reveal an improved budget bottom line when he hands down his mid-year review today, gaining a revenue windfall from a buoyant jobs market. Economists expect the 2017/18 budget deficit could be about $3 billion smaller at some $26 billion for the 2017/18 financial year compared to the $29.4 billion…
DetailsTeva might have been better off as a smaller company, new CEO says. The generic drugs powerhouse is now carrying a $34.7 billion debta result of a $40.5 acquisition of Actavis. New CEO Kåre Schultz presented a detailed restructuring plan on Thursday. Read more Israel goes on strike in support of Teva…
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