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HSBC CFO: Bank to restructure after Q3 profit drop

Future CFO

HSBC’s CFO Ewen Stevenson said the bank plans to restructure its loss-making businesses after announcing an 18% year-on-year drop in pre-tax profit in Q3 on Monday. The Hong Kong-listed bank reported pre-tax profit of US$4.8 The post HSBC CFO: Bank to restructure after Q3 profit drop appeared first on FutureCFO.

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JCPenney Explores Debt Restructuring Options With Advisers

PYMNTS

To look into debt restructuring options that would provide the retailer more time to make a turnaround, JCPenney Co Inc has reportedly hired advisers. The retailer is said to be looking into options encompassing negotiating with creditors or raising more cash. The retailer operates over 860 stores and has 95,000 workers.

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Lloyd’s Bank To Cut 730 Jobs In January

PYMNTS

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 job cuts will be largely in its technology and retail operations. 29, Lloyd’s reported a third-quarter profit of $1.3

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Levi Goes ‘Soft And Stretchy’ In A Rigid Retail Market

PYMNTS

Retailers that are unable to call on substantial financial reserves are struggling in the current environment. Mobile shopping is growing and a key focus of retailers going into the holiday season. Mobile shopping is growing and a key focus of retailers going into the holiday season. Along with Claire’s Stores Inc.,

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Closed Theme Parks Sink Disney Earnings; Q3 Could Be Worse

PYMNTS

The company reported the second-quarter profit of its fiscal year at $460 million, or 26 cents a share, on sales of $18.01 After adjusting for restructuring charges and other effects, Disney reported earnings of 60 cents a share, down from $1.61 billion, up from $14.9 billion in 2019. a share a year ago. “The

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UK’s Dixons Carphone Warehouse Shutters 530 Locations, 3K Jobs Lost

PYMNTS

company is closing 531 stores, which will result in the loss of 3,000 jobs. Whitman Howard Analyst Tony Shiret said the decision for what to do with the remaining stores is the “elephant in the room” when it comes to how the company is going to restructure itself. The company is predicted to see losses of about 90 million pounds ($108.7

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The Retail Good News Roundup

PYMNTS

By and large, things are not great for retail (particularly of the brick-and-mortar variety). Indeed, it’s popular — dare we say, trendy, even — to postulate that retail as we know it is doomed. “Quarterly losses, schmorterly losses” seems to be the position of H&M. . You know it. We know it.

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