PYMNTS

NOVEMBER 4, 2020

London-based Lloyd’s plans to cut roughly 730 additional jobs as part of its ongoing restructuring plan, which had been put on hold earlier this year due to the COVID-19 pandemic. The bank said it planned to eliminate 800 jobs but would create more than 200, resulting in a net loss of 639 positions, according to Bloomberg.

Banking 64

Banking Restructuring Profit and Loss Planning 64

CFO News Room

NOVEMBER 25, 2022

SNB Chairman Ammar AlKhudairy told CNBC in late October that the stake in Credit Suisse had been acquired at “floor price” and urged the Swiss lender “not to blink” on its radical restructuring plans. . But that number will fall markedly once CS confirms its entire net loss for this year. billion of losses. And not until 2025.

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Profit and Loss Banking Restructuring Planning 100

Future CFO

DECEMBER 18, 2020

FutureCFO spoke to three executives for their expressed views on the impact of COVID-19 on the Asia Pacific’s (APAC) credit market: Mike San Diego, chief financial officer at JK Capital Finance; James Ponsford, regional director & growth leader, Credit Solutions, Asia at Aon; and Matthew Wells, APAC regional commercial director for Euler Hermes.

Marketing 52

Marketing Profit and Loss Credit Risk Finance 52

PYMNTS

FEBRUARY 26, 2018

billion | Profits posted by the Royal Bank of Scotland (RBS) in 2017, despite the ongoing fallout from its Global Restructuring Group scandal. The profits were the first the company had posted in a decade, significantly beyond analyst expectations and a sharp turnaround from 2016’s $9.71 billion loss. percent and 29.5

Accounts Payable 40

Accounts Payable Accounting Profit and Loss Restructuring 40

PYMNTS

OCTOBER 14, 2020

14), Wells Fargo called out strong mortgage banking fees, higher equity markets and declining sequential charge-offs as positives for the period. “As But the silver lining to that figure is that the loan-loss provision is down from $9.5 Despite reporting rough overall Q3 results Wednesday (Oct. billion in Q2. billion.

Profit and Loss 82

Profit and Loss Restructuring Economics Banking 82

PYMNTS

DECEMBER 8, 2019

European banks have been forced to slash more than 60,000 jobs as they face falling profitability, The Financial Times reported on Saturday (Dec. The region’s struggling financial institutions are mostly comprised of investment banks suffering from a combination of revenue declines and market share losses to U.S. In the U.K.,

Profit and Loss 56

Profit and Loss Restructuring Auditing Economics 56

Barry Ritholtz

JULY 18, 2023

My Two-for-Tuesday train WFH reads: • Good News-Bad News About the Economy : The hard part about markets and the economy is that there are often conflicting signals about what’s going on. The $10 billion event-driven is a deep value-focused investor specializing in companies that need financial and operational restructuring.

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Profit and Loss Restructuring Investments Accounting 95

PYMNTS

AUGUST 3, 2018

Groupon reported a wider-than-expected loss during the second quarter, as it continued its efforts to restructure its core voucher-based business model and expand its international business. Williams said the company has begun testing Groupon+ in one market. Groupon said that at the end of June, it had about 5.1 million.

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Profit and Loss GAAP Restructuring Marketing 40

PYMNTS

OCTOBER 15, 2016

Then they would like to see it get fixed and get a new model to market. The loss of the $882 flagship phone comes at a particularly inopportune time for Samsung, as Google is pushing its new high-end Pixel phone out to be the high-end competitor for those who are less than enamored of iOS or Apple products. billion range — with a $2.3

Profit and Loss 72

Profit and Loss Restructuring Banking Sales 72

PYMNTS

MARCH 4, 2020

As it pursues profitability and aims to reduce expenditures, economy hotel firm OYO is reducing its worldwide workforce by 5,000 individuals. The spokesperson said, per the report, “The global restructuring exercise at OYO was announced in January 2020, and the recent developments in China are in line with the same.

Profit and Loss 52

Profit and Loss Restructuring Finance Marketing 52

PYMNTS

NOVEMBER 7, 2019

Samir Assaf, HSBC head of global banking and markets, shared the news with other seniors bankers on Tuesday (Nov. HSBC interim CEO Noel Quinn, who is currently trying to restructure the bank in the wake of its relatively poor performance, will now have to deal with the compliance issues as well. We need to get those returns up.

Compliance 40

Compliance Profit and Loss Restructuring Banking 40

PYMNTS

NOVEMBER 6, 2019

The news comes as the bank reported a net loss below market expectations amid a restructuring plan that includes about 18,000 layoffs. The lender reported a net loss of $924 million (832 million euros) for the third quarter of 2019. This is the second quarterly loss for Deutsche Bank, which triggered a 7.9

Banking 40

Banking Profit and Loss Restructuring Concentration 40

PYMNTS

NOVEMBER 11, 2019

The bank also plans to expand Kinetic into new geographic markets. According to the news outlet, HSBC’s newest small business digital banking offering is one of several rolling out in the market from traditional High Street lenders that are facing higher pressure from FinTechs. where the FI’s losses were greatest.

Banking 42

Banking Profit and Loss Restructuring Budgeting 42

PYMNTS

APRIL 4, 2019

That will bring Youzan’s net proceeds to $910 million HK, which will be used to fund system upgrades, product development, marketing, promotion of services and general working capital. So far, Hangzhou-based Youzan has yet to turn a profit. In fact, it posted a loss of $839.4 million HK in the last financial year.

eCommerce 51

eCommerce Profit and Loss Restructuring Investments 51

Musings on Markets

AUGUST 19, 2024

Not surprisingly, the operating metrics change as companies age, with high revenue growth accompanied by big losses (from work-in-progress business models) and large reinvestment needs (to delivery future growth) in early-stage companies to large profits and free cash flows in the mature phase to stresses on growth and margins in decline.

Corporate Finance 119

Corporate Finance Valuation Investments Finance 119

CFO Talks

JUNE 20, 2022

As businesspeople, this offers us an opportunity: an opportunity to rethink our business models so that resiliency, profitability, and sustainability are not mutually exclusive.”. Research from Investment Week shows a positive link between relative market performance and strong Environmental, Social, and Governance (ESG) rating.

Budgeting 52

Budgeting Profit and Loss Manufacturing SAP 52

PYMNTS

AUGUST 22, 2019

The bank went on to note that it had attempted to work with the FIs to move them back to solvency through the actions of their shareholders, but that all closed-down institutions had remained insufficiently capitalized after over a year of attempted restructuring.

Banking 46

Banking Profit and Loss Restructuring Finance 46

PYMNTS

AUGUST 16, 2018

. “In terms of profit, this has been a quarter that Walmart would rather forget,” Saunders said. billion loss from the sale of 80 percent of Walmart Brazil pushed the company into the red by $861 million. “Operating income fell by 3.7 percent, a relatively weak outcome. At the net level, a $4.5

Profit and Loss 40

Profit and Loss Restructuring eCommerce Forecasting 40

Barry Ritholtz

JULY 19, 2023

My mid-week morning train WFH reads: • Is Rolex a Non-Profit? Teddy ) • Jerome Powell’s Prized Labor Market Is Back. The Federal Reserve chair spent the early pandemic bemoaning the loss of a strong job market. Answers to Your Burning Questions About the Rolex Watch Company. Can He Keep It?

Profit and Loss 52

Profit and Loss Advertising Restructuring Investments 52

Global Finance

MAY 8, 2024

Lending rates followed central bank tightening moves, while deposit rates lagged; and across the region, there were some record profits. In Japan, profits at the country’s five most prominent banking groups leapt 56% to a record ¥2 trillion (about $12.6 billion after-tax profit versus $8.3 billion; a 2.3% CCB invested 4.9

Banking 52

Banking Profit and Loss Construction Retail 52

PYMNTS

MAY 8, 2018

Net losses clocked in at $31.7 On the upside, that is a decline: Net losses a year ago were around $52 million. Front-end improvements have been paired with back-end restructuring; operational problems at a warehouse in New Jersey stalled — and in some cases even stopped — infrastructural growth.

Profit and Loss 40

Profit and Loss Restructuring Retail Numbers 40

Musings on Markets

DECEMBER 2, 2020

In this post, I will argue that there are good reasons for Airbnb's IPO timing, and make my first attempt at valuing this latest entrant into public markets. By the start of 2020, Airbnb had already become one of the largest players in its market of vacation and travel rentals, a sign of success, but also a crimp on future growth.

Profit and Loss 52

Profit and Loss Valuation Numbers Investments 52

PYMNTS

MAY 26, 2016

Now, when a retailer with regional and sometimes even international reach crumbles under the weight of its own lagging financials, the shockwaves it sends across the industry can be enough to throw its competitors – otherwise ecstatic about the loss of a rival – onto unbalanced footings of their own. Bankruptcies. Store Closures.

Profit and Loss 40

Profit and Loss Retail Restructuring Sales 40

Cube Software

MAY 11, 2023

The answers—based on different sources of data like market research or historical sales information—guide internal decision-making to promote regular, sustainable growth as well as create contingency plans for worst-case or best-case scenarios. For example, they might ask, "what if our revenue decreases by 20%?"

GAAP 40

GAAP Financial Planning and Analysis (FP&A) Profit and Loss Accounting Principles 40

Barry Ritholtz

OCTOBER 21, 2024

And I was intrigued by the markets at the time, in the mid eighties, you had a lot of stuff going on in terms of the merger boom. I wanna get some markets experience, but, you know, stay in the proprietary side. You’d see things go from, say the investment grade market to the high yield market.

Investments 59

Investments Numbers Marketing Leverage 59

Barry Ritholtz

JULY 18, 2023

And you know when I was in business school from 97 to 99, we had kind of a hiccup in the markets in the fall of 98… RITHOLTZ: Long-term capital management and the Russian default. I went back to business school to prosecute my path of moving from public accounting into the capital markets. WAGNER: Exactly. And I was a career-changer.

Investments 52

Investments Profit and Loss Accounting Restructuring 52

Musings on Markets

OCTOBER 18, 2024

The Law in Spirit and Letter In the latter part of the nineteenth century, as the United States was transitioning from an emerging market to a global economic power, its growth was powered by three industries - steel, railroads and oil - all requiring large investments in infrastructure. Morgan, who took it public as US Steel.

Advertising 75

Advertising Profit and Loss Economics Entertainment 75

Barry Ritholtz

MARCH 27, 2023

And so that’s when I thought, you know, there might be a hole in the market. It can be even a change in regulation or in market, where suddenly volatility picks up and the interest of bondholders and shareholders are at odds. RITHOLTZ: So you were very actively involved in the restructuring of the airlines post 9/11.

Investments 114

Investments Restructuring Profit and Loss Finance 114

Barry Ritholtz

JUNE 13, 2023

And so late 90s, that’s the emergence of the high yield market in Europe, you would print deals like never before. Now, on the positive and the silver lining was that this whole situation started putting a lot of light on, let’s say, the alternative market. Is it just the size of the US market? I think we learned a lot.

Investments 59

Investments Banking Entertainment Marketing 59

Global Finance

OCTOBER 10, 2024

He also introduced exchange rate flexibility, which helped close the gap with the black-market rates but led to an immediate 40% drop in the Egyptian pound’s value. Another was moving to a market-determined exchange rate. The Jordanian banking system remains strong, profitable and resilient to external shocks. billion bailout.

Benchmarking 75

Benchmarking Economics Currencies Banking 75

CFO News Room

FEBRUARY 5, 2023

The History The Adani Group, founded by Gautam Adani, started life as a commodity trading partnership business in Gujarat, and listed on stock markets in 1994, as Adani Exports, with a large chunk of its revenues coming from its operation of a local port in Mundra, with a subsequent entry into the edible oil business.

Marketing 130

Marketing Investments Auditing Profit and Loss 130

Musings on Markets

FEBRUARY 4, 2023

The History The Adani Group, founded by Gautam Adani, started life as a commodity trading partnership business in Gujarat, and listed on stock markets in 1994, as Adani Exports, with a large chunk of its revenues coming from its operation of a local port in Mundra, with a subsequent entry into the edible oil business.

Investments 100

Investments Valuation Auditing Restructuring 100

PYMNTS

OCTOBER 6, 2017

Other than perhaps the very largest players in the game, most loan lenders can’t soak that kind of volume loss, since payday lending (contrary to public opinion) is not a high-margin business to start with. That destruction is necessary, according to CFPB director Richard Cordray.

Profit and Loss 51

Profit and Loss Currencies Banking Restructuring 51

PYMNTS

OCTOBER 6, 2017

Other than perhaps the very largest players in the game, most loan lenders can’t soak that kind of volume loss, since payday lending (contrary to public opinion) is not a high-margin business to start with. That destruction is necessary, according to CFPB director Richard Cordray.

Profit and Loss 40

Profit and Loss Currencies Banking Restructuring 40

Barry Ritholtz

OCTOBER 3, 2023

[ Gary Cohn ] 00:03:56 So two years earlier, and now we’re going back in time, the summer of 80, for those of you that remember the summer of 80, the Hunt brothers at that point were silver, were exactly, were trying to corner the gold and silver market. They were buying the, the Comex market. It was brand new.

Marketing 112

Marketing Banking Treasury Profit and Loss 112