Ericssons cost reduction plan aimed at saving the company more than $1.05 billion in expenses by year-end 2017 is progressing ahead of schedule. While this means that no further layoffs are planned for the companys workers in Sweden, it will result in higher restructuring costs in 2016. Ericsson said that total restructuring costs for 2016…
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DetailsTHE INSOLVENCY Service has managed to secure fifty six debt release orders (DRO) for debtors who were unable to repay dues of up to twenty five thousand Euro, as a result of the economic crisis. So far 1,019 applications have been submitted from citizens who request a debt write-off, head of the Insolvency Service Costas…
DetailsWatpac claims it is owed $3.2 million for mining services work carried out, at the request of KordaMentha, at Pluton Resource’s Cockatoo Island. Brendon Thorne Property developer and mining contractor Watpac has lashed insolvency firm KordaMentha after launching legal action against three of its partners as it seeks $3.2 million for work on an iron…
DetailsJohn Haddock, CHAMP Private Equity CEO: A non-deal roadshow for CHAMP’s Accolade is underway. Treasury Wines Estates has added a little wrinkle to the potential float of Accolade Wines by terminating a wine bottling deal in the United Kingdom with the ASX aspirant. Treasury has given Accolade notice that it intends to cease a wine bottling…
DetailsRupee depreciation has increased Jet Airways’ finance cost and fund raising can help the airline pare its Rs 12,000 crore debt, say analysts. About 80 per cent of the airline’s debt is dollar denominated and it spends about 5 per cent of its revenue on interest payments. A Bloomberg report on Thursday…
DetailsDec 8 Wave Entertainment Pcl * Restructuring transaction will be completed by 2016 with no changes in management and operation * Approved education business restructuring via sale of efficient english services ltd shares held by co to unit Source text for Eikon: Further company coverage: ‘); $(‘.second-article-divide’).append($(‘.slider.slider-module’)); $(‘.third-article-divide’).append(‘ Also In Technology, Media and Telecommunications ‘);…
DetailsMasters Home Improvement stock is now up to 95% off as the hardware chain enters its final four days of trading, with Woolworths looking to recoup close to $700 million in the liquidation sale. After a relatively brief five-year journey, Woolworths announced its plans to close Masters in August and GA Australia took control of…
DetailsA pump jack is seen at sunrise near Bakersfield Thomson Reuters By Tom Hals and Tracy Rucinski (Reuters) – After two years of hunkering down, struggling U.S. oilfield service providers are preparing for an expected oil-price recovery in an unexpected way: filing for bankruptcy. Companies that drill wells, haul water and provide other services to…
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