Police in Scotland are looking into allegations a controversial division of Royal Bank of Scotland (RBS), set up to restore struggling companies to health, broke the law in its dealings with them. More than 90% of the firms put into RBS’ Global Restructuring Group (GRG), established after the financial crisis, are understood to have suffered…
DetailsPPG Industries Inc. PPG reported net earnings from continuing operations of $1.52 per share for the third quarter of 2017, as against the year-ago net loss from continuing operations of 79 cents. The results were in line with the Zacks Consensus Estimate. Net sales in the quarter increased 3.2% year over year to $3,776 million.…
DetailsCabot Credit Management is seeking to list on the London stock market at an expected valuation of about £1bn, with the debt management group hoping to benefit from the rise in consumer credit. The UK company, which collects debts after buying defaulted or distressed loans from banks, on Friday said it would seek to raise…
DetailsEricsson ADRs (ERIC) are jumping this morning, after the Swedish telecom equipment giant reported mixed third-quarter earnings and, despite warning of challenges to come, appeared to be making some progress with its turnaround efforts. Ericsson said that the firm lost 55 cents a share, much higher than analysts expected, and its fourth consecutive quarterly loss.…
DetailsGeneral Electric Co. slashed its 2017 projections as new Chief Executive John Flannerys started to outline his restructuring plans, setting a goal to exit more than $20 billion of the struggling conglomerates businesses. Mr. Flannery, who came into the job in August and recently became chairman with the early exit of Jeff Immelt, has expressed…
DetailsGeneral Electric Co. said its third-quarter earnings fell as it incurred hefty restructuring charges during Chief Executive John Flannery’s first official quarter at the helm, and the new CEO outlined plans to exit more than $20 billion of the company’s businesses. Continue Reading Below GE reported a third-quarter profit of $1.8 billion, or 21 cents…
DetailsHyderabad, Oct 20: Gayatri Projects has secured the stay of insolvency proceedings order initiated by NCLT with regard to a petition filed by Jaycon Infrastructure claiming default of dues worth Rs 2.28 crore. The Hyderabad-based construction and infrastructure company has secured a stay order for the appointment of Interim Resolution Professional (IRP) till November 14,…
Details17:07 19/10/2017 MOSCOW, October 19 (RAPSI) The Commercial Court of the Moscow Region has declared Duty Free operator Aerofirst bankrupt, according to court records. A monitoring procedure was introduced regarding Aerofirst on April 27. Moreover, this summer the court included a 3.1-billion-ruble (about $54 million at the current exchange rate) debt of Aerofirst to VTB…
DetailsA Derbyshire textile company has gone into liquidation. Future Textiles Ltd on Eldon Street, Clay Cross, was founded in 2008. Now, an official notice placed in the London Gazette states that Claire Elizabeth Dowson and Ashleigh William Fletcher, of Begbies Traynor, have been appointed joint liquidators of the firm. Liquidation is the process where a…
DetailsLONDON (Reuters Breakingviews) – If Daimlers cars were as slow as its restructuring, the company would have few customers. The Mercedes-Benz parent has problems aplenty, which bumper third-quarter sales do little to change. A plan to carve out its car and truck units might help lift its valuation if that eventually led to a separate…
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