Internet company AOL today said it is planning to reduce one-third of its workforce, as part of its cost cutting initiative.The company today informed its employees of proposed restructuring activities as part of its continuing cost reduction initiatives, AOL said in a regulatory filing with the US Security and Exchange Commission."The restructuring is conditioned upon the successful completion of...
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Steel today said it islooking at restructuring its convertible bonds portfolio."Tata Steel is looking for restructuring its convertiblebond portfolio and once completed we shall confirm thedetails," Tata Steel spokesperson said.However, the spokesperson did not give any details as towhy the company is restructuring the stated portfolio. Also,he declined to give any financial details of the process...
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York: Internet company AOL today said itis planning to reduce one-third of its workforce, as part ofits cost cutting initiative.The company today informed its employees of proposedrestructuring activities as part of its continuing costreduction initiatives, AOL said in a regulatory filing withthe US Security and Exchange Commission."The restructuring is conditioned upon the successfulcompletion of...
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Reliance Industries may make a firm bid to acquire bankrupt chemicals andfuel maker LyondellBasell Industries AF in February 2010 after $20 billion ofdebt owned by the troubled firm is restructured.A New York court isexpected to approve a plan of restructuring LyondellBasell by February and it ishighly unlikely that RIL would make any firm offer until then because all cashinfused now would go to lenders,...
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Banks are worried over the emergence of non-performing assets in their restructured loan portfolios.Though the slippages are not significant, bankers fear they may rise as the economic slowdown has not ebbed yet. The problem is more acute among PSU banks.Already, a rise in overall bad assets in the second quarter has dampened the mood among banks, who otherwise, have reported encouraging results.Under...
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SciClone to restructure, cut work force 17 percent < ');" class="arial11blue1"> RateSciClone Pharmaceuticals Inc. on Wednesday said it will cut 17 percent of its work force — which was at 227 people at the end of 2008 — as part of a corporate restructuring.The restructuring comes after the company stopped a trial of a late-stage pancreatic cancer drug candidate earlier this month.The move will result...
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Reliance Industries may make a firm bid to acquire bankrupt chemicals and fuel maker LyondellBasell Industries AF in February 2010 after $20 billion of debt owned by the troubled firm is restructured.A New York court is expected to approve a plan of restructuring LyondellBasell by February and it is highly unlikely that RIL would make any firm offer until then because all cash infused now would go...
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eliance Industries may make a firm bid to acquire bankrupt chemicals and fuel maker LyondellBasell Industries AF in February 2010 after $20 billion of debt owned by the troubled firm is restructured.A New York court is expected to approve a plan of restructuring LyondellBasell by February and it is highly unlikely that RIL [] would make any firm offer until then because all cash infused now would go...
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SciClone to restructure, trim about 7 US jobs < ');" class="arial11blue1"> RateSciClone Pharmaceuticals Inc. on Wednesday said it will cut 17 percent of its U.S. work force — or about 7 jobs — as part of a corporate restructuring.The restructuring comes after the company stopped a trial of a late-stage pancreatic cancer drug candidate earlier this month. The company said at the time a data safety monitoring...
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Icahn makes offer to purchase CIT Group debt if bondholders agree to reject restructuring planBillionaire investor Carl Icahn offered Tuesday to buy certain classes of debt from CIT Group Inc. bondholders as he tries to thwart the commercial lender's restructuring plan.FILE - In this Oct. 11, 2007 file photo, private equity investor Carl Icahn speaks at the WorldIcahn said in a letter he will pay those...
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