PolyNovo, a burns treatment company, has requested its chief executive officer, Swami Raote, to cease his employment. This action follows reports alleging bullying behavior by chairman David Williams directed towards both Raote and the company’s chief financial officer. The company confirmed in a statement that a “confidential discussion” occurred with Raote, during which he was […]
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Orica, a commercial explosives operator, has issued a profit warning, anticipating a $300 million to $350 million impact due to substantial restructuring costs. These costs are primarily associated with its Latin American and EMEA (Europe, Middle East, and Africa) assets. The company projects a $290 million to $335 million impairment and restructuring expense specifically from
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A renewed bidding war for Insignia Financial, the wealth management group that owns MLC, has intensified as private equity firms Bain Capital and CC Capital increased their offers to $5 per share. Insignia has granted exclusivity to both parties, citing the best interests of shareholders, allowing them a six-week due diligence period. The revised bids
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Spartan Resources reported a near doubling of losses in the half-year ending December, reaching $44.4 million compared to $26.2 million in the previous year. This increase is primarily attributed to higher royalty expenses and a substantial $25 million investment in exploration activities. A significant factor contributing to the widened losses was a $15.9 million revaluation
Spartan Resources’ Losses Widen on Exploration Costs Read More »
The U.S. administration under Donald Trump has given Chevron a one-month ultimatum to cease oil production in Venezuela, significantly escalating pressure on President Nicolas Maduro’s government. The Treasury Department’s April 3 deadline provides a much shorter wind-down period than typically granted, delivering a substantial blow to Maduro’s regime and its oil revenues. This abrupt timeline
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Susan Forrester will step down from her position on the board of Data#3, an IT services and solutions provider, effective April 30th. Forrester joined Data#3 in March 2022 and her departure marks the end of a three-year tenure. During her time with the company, Forrester contributed to the strategic oversight of the business. Her resignation
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Goldman Sachs Group is initiating its annual workforce reduction, shifting the timing to earlier in the year. The New York-based investment bank plans to cut between 3% and 5% of its staff, a figure consistent with previous years’ reductions, according to sources familiar with the matter. This decision follows earlier layoffs that typically occurred in
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Magnum Mining and Exploration Limited (ASX: MGU) has announced an extension to the closing date of its non-renounceable entitlement offer. Originally slated to close earlier, the offer period will now conclude at 5:00pm (WST) on Monday, March 24, 2025. This decision comes after shareholder requests for more time to receive and assess the entitlement offer
Magnum Mining Extends Entitlement Offer Period Read More »
WiseTech Global is actively seeking to appoint new independent directors to its board after four independent non-executive directors departed last month due to disagreements over founder Richard White’s future role. White’s subsequent appointment as non-executive chairman exacerbated the issue, leaving the board short of the ASX requirement for its audit and risk committee to have
WiseTech Seeks Directors Amid ASX Compliance Concerns Read More »
Infinity Mining Limited (ASX: IMI) is intensifying its exploration efforts at the Tanjil Bren Project in Victoria, announcing a Service Agreement with experienced geologist Dr. Allan Geoffrey Rossiter. This collaboration aims to leverage Dr. Rossiter’s expertise and historical data to unlock the project’s gold potential. The agreement involves reanalyzing 95 stream sediment samples collected by
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