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updated Thu. February 14, 2019

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The Yomiuri ShimbunJapan Post Bank Co. and Japan Post Insurance Co. are considering cutting their workforce by a total of about 1,700 people over the three years through fiscal 2020, The Yomiuri Shimbun has learned. The move is aimed at coping with difficulties in fund management amid extremely ...
Kitex Garments on Wednesday announced in its filing on BSE that it will form two new subsidiaries. The company will engage M/s KPMG in total implementation of the project. The company will also invest Rs400cr (Rs200cr each ) in these companies from internal accruals and borrowings. The new facilities ...

Ampco-Pittsburgh Corp. announced increased prices for its subsidiaries. Forged and cast-roll products for the steel and aluminum industries will increase 8 percent to 10 percent because of the cost of raw materials as well as increasing production costs due to growing demand, according to a news release ...
Stanley Opara. Shareholders of United Bank for Africa Plc have expressed satisfaction over the 2017 full-year financial performance of the bank and the increased dividend payout declared by the lender. They expressed their views at the 56th Annual General Meeting of the bank held in Lagos on Monday, ...
NHS Providers has hit back at Unison's accusations that wholly owned subsidiaries in the health service are “backdoor privatisation”. The union published results from a freedom of information exercise at the start of last week, which showed 15 NHS trusts had spent £3.2m on setting up wholly owned ...
And with a view toward finalizing the divorce, the Akron, Ohio-based power company announced Monday it has reached an agreement with the majority of the creditors of FirstEnergy Solutions and several other subsidiaries that operate coal and nuclear plants in Ohio and Pennsylvania, including the Bruce ...

Kentucky sues Johnson & Johnson, subsidiaries over opioid epidemic. Kentucky's attorney general said he was taking action "to make sure they pay for ravaging our communities." by Corky Siemaszko / Apr.18.2018 / 2:55 PM ET ...
On-line retailer Amazon's key Irish subsidiaries had mixed fortunes last year. accounts for both companies show. Amazon CS Ltd, the tech giant's Cork-based customer service operation, lost €3.3 million, while Amazon Data Services Ireland Ltd, which provides web-hosting to the group, earned €19 million.
American International Group Inc. announced the authorization of new insurance companies in the United Kingdom and Luxembourg in preparation for the UK's exit from the European Union. The formation of the two new units provides clients certainty of uninterrupted UK and European insurance coverage ...
Fitch Ratings has affirmed a stable outlook on the foreign currency, long-term Issuer Default Ratings of United Bank for Africa Plc's subsidiaries in Cameroon, Ghana and Senegal. The lender said the entities, UBA Cameroon SA, UBA Ghana Limited and UBA Senegal SA, which are subsidiaries of the ...
GVK Power & Infrastructure has entered into an agreement with Anagha Constructions Pvt Ltd and Visakha Constructions Pvt Ltd to sell and transfer the entire equity stake in three of its smaller subsidiaries. The sale relates to Goriganga Hydro Power Pvt Ltd and GVK Oil & Gas Ltd, both wholly owned ...
Assessing the loan portfolio of the subsidiaries, the agency notes that the three subsidiaries of UBA Plc lend to leading domestic corporate and public sector entities and such loans dominate the portfolio of UBA subsidiaries in each of the respective markets. Fitch specifically expects notable improvement in ...
“(Business in Cameroon) - The Long-Term IDRs of UBA CAM, UBA SEN, and UBA Ghana are driven by their standalone financial strength”. This is how Fitch Rating justified the 'B' it attributed to the subsidiaries of UBA in Cameroon, Ghana, and Senegal. Noting that “the VRs of the three subsidiaries are ...
Last November, the company revealed that inspection data had been falsified at subsidiaries Mitsubishi Cable Industries, Mitsubishi Shindoh and Mitsubishi Aluminum. It said it would conduct a thorough investigation of the units. Faced with a fresh scandal, Executive Vice President Naoki Ono admitted that ...
In 2017 EUROINS Insurance Group (EIG) generated aggregate GWP of BGN 645.5 million (EUR 330 million) compared to BGN 527.7 million in 2016. At the same time, the consolidated profit increased more than four times to BGN 36.8 million (EUR 19 million) compared to a profit of BGN 8.9 million in 2016 ...
According to documents filed by Bilfinger Westcon Inc. of Bismarck, N.D., it was retained by MarkWest and its subsidiaries between November 2014 and October 2015 to perform construction of natural gas processing projects at four sites. According to Westcon, the total original contract price owed to it for ...
Chinese corporate records lead us to believe that insiders control Tongfang Investment Fund, the firm that recently acquired NQ's mobile gaming and video businesses. One day after the deal with Tongfang was announced and eight months before it closed, NQ transferred its interest in FL Mobile and ...

Furthermore, when shareholders consider putting their German subsidiaries into insolvency, they should carefully review all intra-group relationships to identify in advance potential avoidance claims and claw back risks, so that they avoid unpleasant surprises after insolvency proceedings have been ...
KUALA LUMPUR, Feb 5 — Sapura Energy Bhd's direct and indirect wholly-owned subsidiaries have been awarded contracts with a combined value of about RM905 million. In a filing to Bursa Malaysia today, Sapura Energy said that Sapura Fabrication Sdn Bhd (SFSB) had secured two contracts from ...
Lack of progress on regulatory consents has put the kibosh on TechFinancials Inc's (LON:TECH) proposed sale of what it considers non-core businesses. The shares plunged 13.9% to 15.5p after the technology provider to financial trading brokers pulled the plug on the sale of its shareholdings in B O ...
December's tax reform law may result in some of Garmin Ltd.'s subsidiaries being reclassified, according to a Monday filing with the Securities and Exchange Commission. Per the Tax Cuts and Jobs Act, some of Garmin's foreign subsidiaries may be classified as “controlled foreign corporations” — foreign ...
Mumbai, Jan 19 (PTI) Private sector lender Kotak Mahindra Bank today reported a 28 per cent growth in consolidated net at Rs 1,624 crore for the three months to December, helped by the stellar performance of its brokerage and vehicle finance subsidiaries. On a stand-alone basis, profit rose 20 per cent to ...
New Delhi: The government has allotted 11 large coal blocks to three subsidiaries of Coal India Ltd (CIL) to raise the production by 225 million tonnes per annum by 2022, coal minister ... Allotment of these 11 mines to CIL will make all its subsidiaries 100 million tonnes plus coal producing subsidiaries.
Without a financing in place, the Company has formed a special committee to pursue strategic alternatives for its operating subsidiaries. One option that TekModo is pursuing is a non-binding letter agreement dated January 18, 2018, pursuant to which TekModo would sell all of its operating subsidiaries to ...
UAC of Nigeria Plc has announced the appointment of new heads for some of its subsidiaries. According to a statement, Mrs. Oluwakemi Ogunnubi has been appointed as the managing director of Chemical and Allied Products Plc; Mr. Taiwo Ajibola takes over as the managing director of MDS Logistics ...
PREMIUM State-owned lender Bank Negara Indonesia (BNI) will continue its inorganic growth this year as it plans to acquire a smaller bank, while also looking at buying a general insurance firm, its executives have said. Before actually deciding on which bank to acquire this year, the publicly listed lender ...
As of April 1, 2018, Taiyo Nippon Kisen Co., Ltd. and “K” Line Ship Management Co., Ltd., both of which are “K” Line Group ship management subsidiaries, will change their names to “K” Line RoRo Bulk Ship Management Co., Ltd. and “K” Line Energy Ship Management Co., Ltd., respectively. Utilizing the ...
In a BSE filing today, Ipca Laboratories announced: “Acquisition of 100 per cent share capital of Pisgah Labs Inc, a North Carolina Corporation” by Ipca Pharmaceutical Inc, USA and Onyx Scientific Ltd, UK (Onyx) (company's wholly-owned step-down subsidiary) for $9.65 million free of debt.''.
MetLife, a US-based insurance, annuities, and employee benefit programmes provider, has unveiled plans to merge its subsidiary, General American Life Insurance Company, with and into another subsidiary, Metropolitan Tower Life Insurance Company. Once the merger is closed, Metropolitan Tower Life ...
The Directorate General of Taxation has issued a regulation on taxes for subsidiaries of global companies, an official has said. Finance Ministry Regulation No. 29/2017 on country-by-country (CbC) reporting is based on Finance Minister Regulation No. 213/03/2016 on anticipating tax avoidance through ...
UAC of Nigeria Plc has announced the appointment of new heads for some of its subsidiaries. They are Mrs Oluwakemi Ogunnubi, Managing Director, Chemical and Allied Products Plc (CAP Plc); Mr. Taiwo Ajibola, Managing Director, MDS Logistics Limited, and Mr. Adedamola Olusunmade, who became ...
PROPERTY developer KOP said on Wednesday that certain subsidiaries of the group have received a notice from the court of Batam, Indonesia. The court notice is in relation to a statement of claim filed on Dec 15, 2017 by Dominic Andrla to cancel the lease and unit management agreement for two units of a property ...
Reuters has reported that Eurobank will maintain its Balkan footprint in Bulgaria, Serbia and Cyprus after pulling out of Romania, its deputy CEO said on Tuesday, expecting the group's subsidiaries there to double their profitability over the next few years. Greece's third-largest lender by assets clinched a ...
Talks with banks and other potential creditors about the remaining amount for the group and its subsidiaries were advanced and could be concluded within the next week, the sources said. "The main goal right now is to avoid any Steinhoff unit running out of cash and potentially pulling down the whole ...
Metal-alloy chassis maker Catcher Technology has announced that its two subsidiaries in Suqian City, eastern China, will invest an additional NT$630 million (US$21.2 million) and NT$620 million, respectively, for capacity ramps in 2018. For 2017, Cather Technology's capital expenditure totaled NT$11.6 ...
New Delhi: President Donald Trump's US tax bill, signed into law on Friday, is set to hit the competitiveness of US firms' Indian subsidiaries and encourage flow of capital from these units to their parents. The Tax Cuts and Jobs Act is set to make some taxes that Indian units of US multinational firms pay in ...
The National Council on Privatisation, NCP, on Thursday approved the privatisation of five subsidiaries of the Nigerian Mining Corporation, NMC. A Bureau of Public Enterprises, BPE, statement signed by its spokesperson, Chukwuma Nwokoh said the approval was given by the council at its 4th and final ...
The company has completed the sale of its Brazilian subsidiaries, Myers do Brasil and Novel Plasticos, to Novel Holdings–Eireli for $1, according to a Dec. 20 news release. Novel Holdings–Eireli will also assume all liabilities and obligations of the subsidiaries, whether they occur before or after closing, the ...
A.M. Best has downgraded the Financial Strength Rating to A- (Excellent) from A (Excellent) and the Long-Term Issuer Credit Rating to “a-” from “a” of California Capital Insurance Co. and its wholly owned subsidiaries: Eagle West Insurance Company, Nevada Capital Insurance Co. and Monterey Insurance ...
A.M. Best has removed from under review with negative implications and affirmed the Financial Strength Rating (FSR) of B++ (Good) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “bbb” of Birmingham, Michigan-based Conifer Insurance Co. (Conifer). Also confirmed were the FSR of B+ ...
A foremost global rating agency, Fitch Ratings affirmed a stable outlook on the Foreign Currency, Long Term Issuer Default Ratings of UBA Plc's subsidiaries in Cameroon, Ghana and Senegal. The entities, UBA Cameroon SA, UBA Ghana Limited and UBA Senegal SA, which are some of the flagship ...
When you pay your communications bills, do you ever wonder where all the money goes? Verizon Communications, Inc. had a 5% or more interest in these 470+ companies/entities at the end of 2016. While the company pleads poverty and claims it can't afford, or won't, build out and maintain their ...
For HDFC's stock, the fund-raising plan hardly caused a ripple since funds would flow to subsidiaries and not the core business. The stock has lost steam over the last three months but still trades at a rich 6 times its estimated book value for the current fiscal. Its mortgage business performance holds the key ...
Japanese gaming conglomerate Universal Entertainment Corp says it is working to improve the efficiency of the group's corporate management, including “promoting the consolidation of subsidiaries and affiliated companies, mainly [those related to] overseas businesses”. The company said it was putting ...
Metal-alloy chassis maker Catcher Technology has announced that its two subsidiaries in Suqian City, eastern China, will invest an additional NT$630 million (US$21.2 million) and NT$620 million, respectively, for capacity ramps in 2018. For 2017, Cather Technology's capital expenditure totaled NT$11.6 ...
GTPL Hathway climbs over 3% on increasing stake in two subsidiaries. ETMarkets.com|. Dec 29, 2017, 10.57 AM IST. 0Comments. Telecom The scrip was trading 3.43 per cent up at Rs 162.90 at around 10.05 am (IST). Shares of GTPL Hathway advanced over 3 per cent in morning trade on Friday after the company said it ...
TAT Technologies Ltd, an Israeli provider of products and services for the commercial and military aerospace and ground defense industries, has appointed Jeff Lambert as president of its subsidiary Piedmond Aviation. Also, Michael Chen has been named president of Turbochrome, another subsidiary of ...
(RTTNews.com) - Aegon (AGN.L, AEG) announced it has agreed to divest a block of life reinsurance business to SCOR and to dissolve a related captive insurance company. Aegon's Transamerica life subsidiaries will reinsure approximately $750 million of liabilities to SCOR. Aegon said the transaction is ...
Japanese gaming conglomerate Universal Entertainment Corp says it is working to improve the efficiency of the group's corporate management, including “promoting the consolidation of subsidiaries and affiliated companies, mainly [those related to] overseas businesses”. The company said it was putting ...
For HDFC's stock, the fund-raising plan hardly caused a ripple since funds would flow to subsidiaries and not the core business. The stock has lost steam over the last three months but still trades at a rich 6 times its estimated book value for the current fiscal. Its mortgage business performance holds the key ...


 

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