Insolvency and Bankruptcy Board of India has amended its corporate insolvency resolution process regulations to ensure that as part of due diligence prior to approval of a resolution plan, the antecedents, credit worthiness and credibility of a resolution applicant, including promoters, are taken into account by the Committee of Creditors. With a view to ensure…
Details* Firm will sell its manufacturing arm * To exit some construction businesses * Competitors also have to adjust strategies * S. African construction hit by weak public finances * Continues to assess expressions of interest for I&C unit (Adds strategy details, more quotes) By Nqobile Dludla JOHANNESBURG, Nov 7 (Reuters) – South African builder…
DetailsShutterstock photo By Nqobile Dludla JOHANNESBURG, Nov 7 (Reuters) – South African builder Group Five said it will sell its manufacturing arm and exit some construction businesses as part of a further restructuring to address a slump in its home market. South Africa’s construction industry has slowed sharply since the 2010 FIFA World…
DetailsJOHANNESBURG – Gold miner, AngloGold Ashanti generated $88million (R1.25billion) of free cash flow for the quarter ended September 30, with gold production up 11percent, compared with the same period last year, the company said yesterday. The group said it was on track to meet its full-year guidance on production, costs and capital expenditure. AngloGold said the…
DetailsPublished: 11:20 Thursday 02 November 2017 The Yorkshire Meatball Company, which closed the doors on its sole restaurant last October, has entered into liquidation, leaving investors out of pocket. The brand was launched in 2014 by father and son David and Gareth Atkinson, and its products were even sold by Asda, Tesco and Morrisons. But…
DetailsGABORONE, Nov 7 (Reuters) – KFC Botswana will come out of liquidation after a joint venture between Shell Fuel distributors, Vivo Energy Botswana and South African KFC franchise operator Baobab Khulisani agreed to buy the fast food chain. KFC Botswana, whose portfolio includes 12 stores, was placed under liquidation in June 2016 after the company…
Details(Corrects to remove item on GlaxoSmithKline Consumer Healthcare post-earnings analyst conference call as the event is slated for Nov 8) To access the newsletter, click on the link: here If you would like to receive this newsletter via email, please register at: here FACTORS TO WATCH 9:30 am: GMR Group CFO Madhu Terdal, NHAI Member…
DetailsGABORONE, Nov 7 (Reuters) – KFC Botswana will come out of liquidation after a joint venture between Shell Fuel distributors, Vivo Energy Botswana and South African KFC franchise operator Baobab Khulisani agreed to buy the fast food chain. KFC Botswana, whose portfolio includes 12 stores, was placed under liquidation in June 2016 after the company…
DetailsZURICH (Reuters) – ABB (ABBN.S) is reorganizing part of its global power grids operations as the Swiss engineering group responds to the divisions sluggish profitability and falling orders. ABB electrical transformer plant in St. Louis, Missouri, U.S. on July 6, 2017. REUTERS/David Lawder The move comes as ABB seeks to justify its decision last year…
DetailsNovember 07, 2017 TECHNOLOGY Apple sells $7 billion in bonds Apple Inc., looking to fund stock buybacks and dividends, sold $7 billion of bonds even as proposed new tax laws may leave it awash in cash it previously couldnt use. The iPhone maker on Monday sold notes in six parts. Apple has…
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