Page 28 - Reorg News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Read More Andrea Orcel stamped his mark on UniCredit within weeks of taking the reins, axing management committees and a dual head structure that had irked some top investors while hiring key lieutenants to oversee strategy and relations at the Italian bank. Orcel, a veteran UBS (UBSG.S) and Merrill Lynch dealmaker who almost landed the top job at Spanish bank Santander (SAN.MC), was hired by UniCredit (CRDI.MI) after its board fell out with his predecessor, Jean Pierre Mustier, over strategy. "I have heard your concerns about the complexity of our business ... I have felt your frustration ab...

Middle EastIsrael's Delek Drilling aims for London listing of restructured company Steven Scheer 3 minute read Israel's Delek Drilling (DEDRp.TA) said on Tuesday it was forming a new company listed in London to manage all of its gas and oil assets and increase its access to foreign investors. Delek Drilling, controlled by conglomerate Delek Group (DLEKG.TA), will transfer its ownership to newly formed British firm NewMed Energy and cease its status as a limited partnership. NewMed will hold and manage 100% of the assets of Delek Drilling, including a 45.34% interest in the Leviathan natural g...

FinanceCommerzbank nears deal on job cuts in talks with labour reps-sources Reuters 2 minute read A Commerzbank logo is pictured before the bank's annual news conference in Frankfurt, Germany, February 9, 2017. REUTERS/Ralph Orlowski/File Photo Commerzbank (CBKG.DE) is nearing a deal with labour representatives on its restructuring plan that includes 10,000 job cuts globally, people close to the matter said. Management of Germany's second-biggest listed lender and the bank's works council have already reached an agreement in principle, they said, adding that the deal could be officially si...

Middle EastUAE bank ADCB reports soaring profit as it recovers from NMC impairments Reuters 2 minutes read Abu Dhabi Commercial Bank (ADCB) (ADCB.AD), UAE's third-biggest lender, reported a more than 400% surge in first-quarter profit on Sunday, after it took big impairments a year earlier due to its large exposure to troubled hospital operator NMC Health. Net profit in January-March this year totalled 1.1 billion dirhams ($299.50 million), a 436% increase year on year and an 11% increase quarter on quarter, ADCB said. The growth was "largely due to improved cost of risk compared to Q1 '20," ...

SHARE Air France-KLM may raise more capital to bolster its balance sheet as travel begins to recover from the Covid-19 pandemic in the coming months, its chief executive said on Monday. Ben Smith, speaking at an online industry event as a €1.036 billion ($1.25bn) share issue by the airline group nears completion, signalled it could move relatively quickly to seek further funds and reduce debt. "We do have heavy debt that is holding back our balance sheet, so this may have to get looked at again later in the year," he said, adding Air France-KLM was encouraged by European progress on vaccina...