Miserable debt swap Carvana and a group of creditors, including its largest, Apollo Global, Ares and Pacific Investment, announced the swap in July. The deal was expected to reduce debt by about $1.2 billion and save $430 million in interest expense annually. Carvana has also offered to buy back any of the bonds due in … Read more
Bill Anderson The new Bayer boss is under pressure to deliver significantly better numbers again in 2024. (Photo: Reuters) Düsseldorf The first fiscal year of the new Bayer boss Bill Anderson will be an unusually bad one for the pharmaceutical company: the net debt will rise again significantly to 36 billion euros by the end … Read more
Reno, Staples, Windeln.de After filing for bankruptcy, more and more companies are threatened with the final end. (Photo: dpa (2), Imago) Düsseldorf More and more companies have to finally shut down operations in insolvency proceedings. Of the 227 large companies that became insolvent in 2022 and filed for bankruptcy, only 42.9 percent could be saved … Read more
The European division of the American automaker Ford plans to lay off a four-digit number of people, i.e. at least a thousand, from its headquarters and factory in Cologne. This was reported by Automobilwoche magazine, citing sources inside the automaker. The company in Europe is creating a new business structure as part of the gradual … Read more
Jakarta, CNN Indonesia — Police chief General Listyo Sigit Prabowo said his party was restructuring the Mobile Brigade Corps (Brimob) Police. He said the head of the Mobile Brigade Corps would later be led by a three-star general. “We are upgrading the Kakor to become a 3-star because of the increasing duties and responsibilities,” said … Read more
“The situation is serious. China’s central bank has long warned that these large companies, including Evergrand, pose a systemic risk to the national financial system. The real estate market has been a major driver of the Chinese economy for the past decade, and the company’s debt is huge. It is over $ 306 billion, which … Read more
The credit rating agency S&P does not believe that the new line of 3,000 million for the restructuring of the financial debt of companies foreseen in the aid package approved by the Government is disturbing for the Spanish banking sector. The agency has indicated in an analysis of the 11,000 million aid plan for SMEs … Read more
Talks on the new company tariff for around 120,000 employees at Volkswagen are due to begin on Wednesday (10:00 a.m.). IG Metall is demanding four percent more money for the automaker’s employees. This means that the requirement is on the same level as for the collective agreement in the metal and electrical industries. At VW, … Read more
A strike has broken out at the branches of the Makro department store chain in Machelen and Deurne. The staff is opposed to the termination of the temporary contracts, whereby 100 to 200 employees have to be made redundant. – Makro’s management announced this morning at a meeting of the works councils of the six … Read more
After the investigation initiated by the National Securities Commission (CNV) for suspicious movements in the price of its shares, and the judicial setback to the Astor San Telmo project, the developer TGLT added new problems. Yesterday a case was started against him in the court of the Southern District of New York for not having … Read more