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An Apollo spokesman in London did not immediately comment. Problems intensified as Airopack merged its manufacturing at a new plant in 2017, taking on more and more debt from Apollo to help keep things running cufflinks near me. Production of aerosols trailed expectations, however, as it tripled employees to 180 last year. Financing costs escalated and losses ballooned, requiring the recapitalization deal that collapsed amid rising concerns over accounting practices. Airopack said that in addition to inflated sales forecasts, a review started by PriceWaterhouseCoopers in December found “certain inadequate sales and accounting practices that will lead to corrections in the accounting and caused a severe lack of cost-control in the months prior to the announced recapitalization plan”..

The board “is preparing the adequate procedural steps against former management and will coordinate such steps with the court-appointed administrator”, the company said. It did not provide contact details for Airopack co-founder Quint Kelders, who resigned as CEO last year as the recapitalization plan was announced cufflinks near me. He could not immediately be reached for comment via email and LinkedIn. Kelders’s family owns 30 percent of Airopack, while Apollo controls about 23 percent of shares..

ZURICH (Reuters) – UBS (UBSG.S) has reorganized its pay policy for 10,000 back-office workers, Switzerland’s biggest lender said on Monday, changing how their bonuses are calculated cufflinks near me. The staff — mainly working in functions like human resources, marketing and communication — will have their bonuses shifted from a variable scheme to a fixed percentage of their salary. The move aimed to reduce uncertainty around compensation rather than to scale back the amount paid, the bank said. “While not guaranteed, variable compensation is anticipated to be around one-half of a month’s salary. In a good performance year for the group, variable compensation can be higher,” UBS said in a statement..

(Reuters) – Following are five big themes likely to dominate thinking of investors and traders in the coming week and the Reuters stories related to them. It’s just over a week since the U.S. Federal Reserve formally paused its rate-rise campaign but central bankers around the world are falling over themselves to emulate Jerome Powell’s dovish turn cufflinks near me. Australia’s Philip Lowe, having said for a year the next rate move was up, suddenly declared rates could go either way. The European Central Bank can hardly cut its minus 0.40 percent rate but a new round of bank funding stimulus is now widely expected..

The rate cycle has turned across emerging markets too — India has cut rates for the first time in 18 months; several others including Brazil have hinted at cuts ahead. And upcoming central bank meetings in New Zealand and Sweden are sure to highlight growth concerns cufflinks near me. The shift is showing up on currency markets. The dollar fell in December and January as the Fed pause was priced in. Now it’s everyone else’s turn: the Aussie has lost more than 2 percent since Lowe’s Feb 6 comments; the euro has had its biggest weekly drop in four months and MSCI’s emerging currency index is retreating after rising three months straight. If everyone joins the Fed in the doves camp, the greenback, with the highest interest rates in the G10 group, may resume its ascent. Analysts reckon it has stalled but only time will tell..