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Indonesian builder PT PP will restructure 18.2 trillion rupiah ($1 billion) of bank loans, adding to sovereign wealth fund Danantara’s mounting burden of cleaning up troubled state-owned companies.
Emeria’s largest creditors have signed non-disclosure agreements barring them from trading the firm’s debt, as they step up talks with the French real estate services provider and its owners over a €350 million ($407 million) cash injection.
LIV Golf says it intends to restructure its business with a $49.6m bankruptcy loan provided by the Saudi PIF.
A slice of Cerba Healthcare’s revolving credit facility is said to be up for sale as the EQT AB-backed private laboratories company moves toward court-supervised restructuring proceedings to tackle its €5 billion ($5.8 billion) debt pile.
Restructuring of the civic body was envisaged to address micro-level issues through decentralisation of the administration
Volkswagen’s supervisory board backed a sweeping restructuring that calls for 50,000 additional job cuts, far fewer models and a smaller industrial footprint, giving Chief Executive Officer Oliver Blume his clearest mandate yet to overhaul Europe’s biggest carmaker. US retail diesel rose to a record, threatening to further spike energy-driven inflation as wars in Iran and Russia roil the market. The widely used fuel climbed to a nationwide average of $5.85 a gallon at the pump on Thursday, according to the American Automobile Association. The Opening Trade has everything you need to know as markets open across Europe. With analysis you won't find anywhere else, we break down the biggest stories of the day and speak to top guests who have skin in the game. Hosted by Guy Johnson and Tom Mackenzie. (Source: Bloomberg)
European stocks posted muted moves as investors prepared for key US jobs numbers that will provide clues on the chances of a Federal Reserve interest-rate hike this month. Volkswagen AG shares jumped on plans for a sweeping restructuring at the carmaker.
The great debate about what to do with Hongkong Post has begun. There will be many twists and turns before we know the final outcome, but one thing is clear: it is vital to keep the staff on board at every step. We ultimately want to have an organisation of committed professionals running a world-class outfit. Early indications are that there could be problems. We are here because of a sharp deterioration in the post office’s financial position starting in 2017-18. A loss of more than HK$100...