The parent company of BMO Harris Bank is trimming about 4 percent of its workforce company-wide in a restructuring prompted partly by declining branch transactions. The Bank of Montreal employs about 251 employees across 37 branches in the Indianapolis metropolitan area, according to an IBJ survey of local banks conducted in early May. If the…
DetailsMunich Reinsurance Co. Munich Reinsurance Co.’s ailing primary insurance unit, ERGO Insurance Group, said Wednesday that it plans to lay off 1,800 employees as part of a $1.1 billion restructuring plan. The plan, which is scheduled to be completed by 2020, also includes exiting 18 locations in Germany and bulking up its digital capabilities, Duesseldorf,…
DetailsAnd a scheme to fund the cost of a consultation with a personal insolvency practitioner has also been put in place, the Irish Independent has learned. In what is set to be a three-pronged support scheme for distressed homeowners, Tánaiste and Justice Minister Frances Fitzgerald will also announce financial supports for homeowners who want to…
DetailsOnce the Insolvency and Bankruptcy Code, 2015, comes into effect, a company that has more than 100 workers can initiate voluntary liquidation proceedings, TK Viswanathan, the chairman of the committee that drafted the legislation and former law secretary, said on Monday. Viswanathan added that as long as the company repaid its dues to lenders and…
DetailsBondholders acted on a long-standing threat and on Wednesday asked the Tel Aviv District Court to put IDB Development Corporation the holding company whose holdings include Cellcom Israel, Clal Insurance and Super-Sol into liquidation. The move came after holders of IDB Series Tet bonds, who hold some 1.35 billion shekels ($350 million) of the…
DetailsScreen shot from Center for Individual Freedom YouTube page The debate over a deal to help Puerto Rico handle its crippling debt obligations continues to rage in Congress and on the airwaves. As we reported in April, the Center for Individual Freedom (CFIF), a 501(c)(4) dark money group, is running an aggressive ad campaign against…
DetailsBy Zoe Sophos Vice President Joseph Biden delivers remarks at the U.S.-China Strategic and Economic Dialogue Joint Opening Session at the U.S. Department of State in Washington, D.C., on July 10, 2013. US and Chinese government officials are gearing up for the eighth annual Strategic and Economic Dialogue (S&ED) next week in Beijing. Priority issues for negotiators…
DetailsMIDLAND, MI Between The Dow Chemical Co.’s anticipated takeover of its subsidiary Dow Corning Corp. and 100 unexpected layoffs at XALT Energy in Midland, Wednesday became a game-changer for the economy of the Great Lakes Bay Region. Both announcements, though unrelated, have a big impact on region, said Mathew Felan, president and CEO of the Great Lakes…
DetailsScreen shot from Center for Individual Freedom YouTube page The debate over a deal to help Puerto Rico handle its crippling debt obligations continues to rage in Congress and on the airwaves. As we reported in April, the Center for Individual Freedom (CFIF), a 501(c)(4) dark money group, is running an aggressive ad campaign against…
DetailsDUBLIN, Ohio Phil Mickelson said he has not yet met with PGA Tour officials regarding a possible suspension or penalty because of his involvement in an SEC insider trading investigation and the uncovering of a large gambling debt. Mickelson might have violated a section of the Tour players handbook which states a player shall not…
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