by Amruth Sundarkumar | Sep 1, 2022 | Corporates, Global
Troubled American retailer Bed Bath & Beyond announced a plan to raise money by issuing new shares. It also said that it signed deals worth of $500mn in financing, adding that it would close down 150 of its 953 stores, cut jobs and overhaul its merchandising...
by Amruth Sundarkumar | Aug 31, 2022 | Corporates, Global
United Airlines and Emirates Airlines are set to enter into a codeshare agreement pending government approvals over the next few weeks, as per Reuters sources. The codeshare agreement is likely to help United Airlines compete better for travelers flying to the Gulf...
by Amruth Sundarkumar | Aug 29, 2022 | Banks, China, Global
Credit Suisse plans to cut down its China business and review long-term plans after suffering billions of dollars in losses. New CEO Ulrich Koerner and Asia-Pacific head Edwin Low will meet in Singapore next week to review their mainland China business strategy. As...
by Amruth Sundarkumar | Aug 25, 2022 | Corporates, Global
US retailer Bed Bath and Beyond (BBBY) is said to have come close to securing a a $370mn loan from investment firm Sixth Street, WSJ reported. The company is looking to shore up its liquidity, balance sheet, and repay debt. As of May, BBBY had cash & cash...
by Amruth Sundarkumar | Aug 24, 2022 | Corporates, Global
US-based departmental store company Macy’s reported a solid second quarter with net sales and earnings better than expectations. While revenues were lower by 0.8% YoY to $5.6bn, they beat expectations of $5.5bn. Bloomingdale and Bluemercury, both owned by Macy’s...
by Amruth Sundarkumar | Aug 24, 2022 | Corporates, Global
Canadian plane manufacturer Bombardier was upgraded to B- from CCC+ with a stable outlook by S&P due to its deleveraging and strong business jet demand. S&P sees market conditions for aircraft OEMs to remain supportive due to tight supply for new aircrafts,...
