HSBC will cut back costs and sell off minority assets under the three year restructuring plan of CEO Stuart Gulliver.
Tags: Restructuring plan
Saudi Aramco plans IPO
Saudi Aramco may tap capital market very shortly. The Kingdom of Saudi Arabia (KSA) is considering a major restructuring plan for the world's biggest oil producing company in the wake of lower oil prices. The Saudi government may also sell some of the stake in Aramco.
Puerto Rico's rescue plan draws flak
The five-year restructuring plan proposed for ailing Caribbean island Puerto Rico has become a center of criticism from economists, who question that who shall benefit from this debt deal. Economists argue that the debt plan overstated the financial requirements of the island.
A US Bankruptcy Court approves honey supplier Groeb Farms Inc to proceed with its restructuring plan
A US Bankruptcy Court allowed honey supplier Groeb Farms Inc to proceed with its restructuring plan, allowing the Michigan company to come out of Chapter 11 protection.
Monte Paschi expects approval of tougher restructuring plan on Sept 24
Monte Paschi announced that it would approve a stricter restructuring plan on September 24 to qualify for a state bailout.
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Citi hires Ben Story, former head of Deutsche Bank. Former Deutsche Bank head Ben Story has been appointed by Citigroup to become head of UK Investment Banking and Brokerage.
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