restructuringplan
Deutsche Bank has announced it is to close down its Numis US operations, after its takeover of Numis in April last. Following the £410 million (€481.67 million) acquisition, Numis, a London-based stockbroking and corporate advisory group, was renamed Deutsche Numis. However, in February, Deutsche Bank revealed it had reduced Numis' valuation by about €233 million. This is believed to be one of the driving forces behind the decision to shut down Numis' US arm, called Numis Securities. Following the closure, around half of Numis Securities' 12 employees will transfer to Deutsche, mainly at its N...
Euronews (English)
The United Colours of Benetton, one of the most well-known and loved brands of the 1980s and 1990s, is facing a revamp. According to Reuters, the company is looking to make some major restructuring changes in the near future, to try and curb losses. The company made a net loss of some €230 million in 2023, a sharp fall from 2022's net loss of €81 million. The figures include impairments, meaning a reduction in the value or amount of a company asset, which are substantial. One of the biggest changes expected to happen is that current Benetton CEO Massimo Renon will step down. The company's shar...
Euronews (English)
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