Northern Rock, the state-owned lender, nearly halved its underlying loss in the second half of 2009 to £139m.However, following its restructuring into a “good bank and a “bad bank at the start of 2010, gross government lending to the business has increased by £8.5bn to £22.8bn.
Dubai’s finance chief insisted on Tuesday that a troubled state-backed conglomerate has sufficient assets to meet its obligations but said it would take more than six months to work out a restructuring plan.Abdul Rahman al-Saleh, the head of the dep
TOULOUSE, France - Airbus has nearly finished cutting 4,400 jobs as set out in a major restructuring plan, union leaders and management said after a meeting between them on Wednesday. At the meeting, the company also stuck to its aim of delivering
A strong schedule of releases in international markets, coupled with a steady US market share in the face of surging sales from the catalogues of Michael Jackson and the Beatles, helped Warner Music report higher-than-expected revenues for its fourt
GM asks Europe for restructuring helpGeneral Motors asked European governments to help pay most of the $4.9 billion that it needs to restructure its struggling European operations.At talks in Brussels, E.U.nations where GM has plants vowed to avoid
THE HAGUE - Dutch banking and insurance group ING reported a sharp switch into quarterly profit on Wednesday as it restructured after a government bail-out and said it was moving into an exciting phase. For the third quarter, it reported net prof
ConocoPhillips, the third-biggest US oil company, reported a 71 per cent drop in third quarter earnings to $1.5bn, or $1 per share, but pointed to an uptick in production that highlighted its restructuring efforts. Conoco’s focus on organic growth,
Verizon said on Monday that its third quarter profits fell by 9 per cent but sales rose as the company lured more wireless subscribers but absorbed the cost of job cuts and restructuring.Excluding one-time charges, Verizon’s net income was $3.57bn,
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