Michael Bruno, Washington Triumph Group continues to sell business units as it tries to turn-around its finances, this time with a deal to sell three MRO units to The Gores Group. Triumph said Dec. 7 it is selling Triumph Air Repair, the Auxiliary Power Unit (APU) Overhaul Operations of Triumph Aviation Services Asia, and Triumph…
DetailsHarry Wilson, City Editor The Financial Conduct Authority has fired a shot across the bows of debt management firms that it considers are not doing enough to help customersChris Helgren/Reuters The City regulator has warned debt management firms that they are not doing enough to help customers struggling under the weight of borrowing. In a…
DetailsPITTSBURGH–(BUSINESS WIRE)–PPG (NYSE:PPG) announced today that its board of directors approved significant and broad restructuring actions to reduce its global cost structure. The actions are focused on certain regions and end-use markets where business conditions are weakest, and they are targeting structural reductions in operating, functional and administrative costs. Because of continued slow overall growth…
DetailsThe Grattan Institute has proposed that a 15% surcharge should be added to the Higher Education Loan Program (HELP) debt of undergraduate and college students. The surcharge is not an up front fee. It is a fee that is added to the existing debt and paid later, depending on a graduates future income. Repayments are…
DetailsHarry Wilson, City Editor The Financial Conduct Authority has fired a shot across the bows of debt management firms that it considers are not doing enough to help customersChris Helgren/Reuters The City regulator has warned debt management firms that they are not doing enough to help customers struggling under the weight of borrowing. In a…
DetailsA HARARE engineer is up in arms with his business partner, who has approached the court seeking the winding-up of their joint business ventures, Matabeleland and Yagden engineering firms, after the pair allegedly failed to amicably work together. BY CHARLES LAITON Tony Renato Sarpo approached the High Court under case number HC9207/16, seeking liquidation of…
DetailsMarvell’s New Management: What’s in Store for Investors? PART 6 OF 12 By Paige Tanner | Dec 8, 2016 1:39 pm EST Marvells Mobile and Wireless segment Marvell Technology Groups (MRVL) Mobile and Wireless segment completes its cycle of storing, moving, and accessing data. This segment has been reporting strong declines after fiscal 4Q16 because…
DetailsThe country’s largest hot-rolled steelmaker, Sahaviriya Steel Industries Plc (SSI), may be able to move forward with its business rehabilitation plan this month if the Central Bankruptcy Court approves the plan. The court is scheduled to make a ruling on Dec 15. Hot-rolled coil production at the SSI plant in Prachuap Khiri Khans Bang Saphan…
DetailsHYDERABAD: The Institute of Company Secretaries of India (ICSI) has stepped up efforts to train and produce insolvency practitioners citing that the sector has huge need of professionals.ICSI has set up Insolvency Professional Agency to train insolvency professionals as there is huge need for professional in this sector and there is also huge growth potential.…
Details. The Cabinet yesterday agreed to liquidate the Rakna Araksha Lanka Limited following consultations with the Attorney General when President Maithripala Sirisena presented a cabinet paper in his capacity as the Minister of Defense. Parallel to the liquidation, it also proposes to assign the tasks of providing security in land to Civil Security…
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