-
Australian investment firm Babcock & Brown is selling about half of its assets and it announced sweeping job cuts in an attempt to settle its bank debts and safeguard its future
-
BABCOCK & Brown (B&plans to more than halve its workforce as part of a restructure.
-
Australian alternative asset manager Babcock & Brown Ltd. (BNB.AX) Tuesday announced the separation of its businesses through restructuring, in order to concentrate solely on specialist infrastructure investment business. The bank noted that it has decided to put the remaining businesses and assets for orderly sale, which is expected to result in job reductions through 2010, with an intention to repay its mounting debt.
-
Gordon Brown was accused today by the Tories of "irresponsibly" having claimed to have abolished boom and bust as unemployment rose to its worst level since 1999.
-
The UK building supply distributor has taken the knife to its US operations, cutting 3,000 jobs and closing 86 branches, after failing to find a buyer for the business
-
STRUGGLING debt-laden investment group Babcock & Brown has officially begun the process of unwinding its business, which may lead to a break-up of the company.
-
Troubled chipmaker announces that it has cut 500 employees, or about 3 percent of its workforce, in an effort to reduce expenses.
-
SAN FRANCISCO -- The economic downturn might be pushing Sun Microsystems Inc., one of the storied names in computing, to the brink of extinction.
-
The banking giant announced Monday that it would cut another 24,000 jobs, bringing its total reductions in the coming months to 52,000.
-
The banking giant announced Monday that it would cut another 24,000 jobs, bringing its total reductions in the coming months to 52,000.
-
Gordon Brown has slashed the Conservative lead in the polls to just three points, according to a survey released yesterday.
-
Shares in heavily indebted Australian investment group that owes US$2bn in senior debt to 25 banks are suspended as it warned that it risked breaching bank covenants
-
THE future of Babcock & Brown as a stand-alone entity will be decided in Sydney today at a meeting of its Australian and overseas lenders.
-
The Australian investment group is seeking to refinance billions of dollars in loans.
-
3i Europe's largest quoted private equity firm is set to axe more than 100 employees as part of a major costcutting drive.
-
Telecom Italia is to cut another 4,000 jobs, sell assets worth €3bn, and cut costs by around €2bn over the next three years as it seeks to reduce its huge debt burden
-
RIO Tinto continues to axe proposed spending and jobs in the light of its huge debt and sagging world economic growth.
-
Telecom Italia Group said Wednesday that its Board of Directors approved the company's 2009-2011 business plan, comprising strategic guidelines and targets, under which fiscal 2009 revenues and organic EBITDA margin are projected to be flat with 2008 figures. The company also announced an additional 4000 job cuts in domestic market by 2010 and said it expects to dispose its non-core assets for an expected value of up to 3 billion euros.
-
The beleaguered Australian infrastructure investor secured an 11th-hour reprieve after a syndicate of 25 international banks agreed to extend it a A$150m emergency loan
-
US telecommunications company, AT&announces 12,000 job cuts, or 4% of its workforce, in an effort to reduce costs.
-
Sumner Redstone's Viacom will cut 7 per cent from its global workforce, or about 850 jobs, and book up a fourth quarter charge of up to $450m as it braces for a media sector-wide slump in advertising spending next year
-
AT&the largest phone company in the U.S., announced Thursday that it will cut about 12,000 jobs, or roughly 4 percent of its total workforce, starting this month and through next year. AT&T also announced it would slash capital spending, but it won't have specific figures ready until it releases its fourth-quarter financial results late next month.
-
Babcock & Brown, the Australian-listed investment firm that controls Eircom, saw its life support switched back on yesterday after it managed to secure AUS$150m (€76m) in financing. Its lenders also consented to suspend covenants under two existing agreements that would have been breached by the end of the month.
-
The cuts, which amount to about 8 percent of the asset management company’s work force, are part of its effort to cut $120 million in costs.
-
Retail jobs face fresh round of cuts in November.
-
Logistics and transportation services provider Con-Way Inc. on Monday lowered its earnings outlook for the full year 2008, blaming unprecedented economic conditions and turbulent market conditions. The company also slashed its nationwide workforce by about 8% or about 1,450 positions, citing lower tonnage at Con-way Freight.
-
Sony slashing 8,000 electronics jobs as global downturn hits profits.
-
The global miner, saddled with almost $40bn in net debt, has announced plans to cut capital spending, slash jobs and boost asset sales but said it would hold its dividend steady
-
Rio will slash jobs to cut debt OZ Minerals scrambling to repay $800m Markets: Latest commodity prices
-
Administrators at Woolworths' distribution arm, Entertainment UK, cut 700 jobs after failing to find a buyer for the business.
-
The car dealer warned that profits would be 'significantly below' expectations as it outlined plans to cut 1,900 jobs and freeze the dividend for the current year
-
The UK maker of electromagnetic shields for mobile phones is to cut 40% of its workforce to cope with a large expected decline in handset sales
-
LONDON -- Prime Minister Gordon Brown pledged Sunday to create 100,000 jobs through a public works program and said he would press banks to resume normal lending as Britain faces its sharpest economic downturn in decades.
-
The British prime minister also told the BBC that he would press banks to resume normal lending as Britain faced its sharpest economic downturn in decades.
-
Shares in troubled investment firm Babcock & Brown -- whose listed fund BCM owns 57pc of Eircom -- soared yesterday in Australia after investors speculated that the group has secured approval from its bankers to offload assets to prevent its collapse.
Subscribe to our RSS (Really Simple Syndication)