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The article discusses the increasing pressure on companies to achieve workplace equity due to employee demands, shareholder proposals, and new legislation. However, many organizations struggle to effectively tie workplace equity efforts to concrete business outcomes. Boards play a crucial role in driving organizational commitment to workplace equity, but they often lack the necessary data insights to oversee it effectively. The article provides questions that boards can ask management about workplace equity initiatives and highlights key pillars for effective oversight. It emphasizes the importance of a shared language, data analytics, and courageous decision-making in advancing workplace equity. The article also acknowledges the diverse perspectives and approaches to workplace equity in today's multi-generational workforce. It concludes by emphasizing the need for leaders to listen, prioritize resilience, and leverage data to ensure a thriving and equitable workplace. [Extracted from the article]

New World Development Co. has received a $1.2 billion bid for the K11 Art Mall in Hong Kong from CR Longdation, a subsidiary of China Resources Holdings Co. The mall generates $40 million in rental income per month. If the sale goes through, it would help New World reduce its debt levels, which are currently the highest among its peers. New World has been selling off assets to decrease leverage in recent years. [Extracted from the article]

Global Aircraft Leasing Co. has raised $1.1 billion in the junk-bond market to refinance debt that is due next month. The senior secured bonds have a unique three-year structure and can be repaid after one-and-a-half years. The bonds were priced at a yield of 8.75%, lower than earlier discussions. The proceeds, along with $990 million of shareholder equity, will be used to refinance senior toggle notes that mature in September. Global Aircraft Leasing is a unit of Beijing-based Bohai Leasing Co. [Extracted from the article]

Masimba, a construction company in Zimbabwe, experienced a significant increase in revenue during the five months leading up to May 2024. The CEO, Fungai Matahwa, reported that revenue rose by nearly 50 percent to US$24.7 million compared to the same period last year. This growth was attributed to a strong order book, with government projects accounting for 74 percent of the US$253 million order book. The company's key revenue drivers were roads and earthworks projects, followed by mining and housing infrastructure. Masimba maintained a healthy gross profit margin of 20 percent and approved investments of US$3 million to improve efficiency. Shareholders' equity also improved, reflecting the company's positive performance. However, Mr. Matahwa anticipates potential challenges in the future due to inflation, foreign currency pricing distortions, and potential delays in government project payments. The company's strategy moving forward will focus on streamlining operations, controlling costs, and maximizing shareholder value. Additionally, Masimba plans to sell developed land holdings in Bulawayo and Shurugwi to generate additional value for shareholders. [Extracted from the article]

Thames Water, the parent company of the highly indebted water utility that supplies a quarter of people in England, is facing financial difficulties after a series of board resignations. The company is exploring options with a group of creditors and has appointed restructuring experts to engage with creditors and assess options. Shareholders blame restrictive regulation from Ofwat for the company's crisis, and Thames Water recently announced that it will need to spend £1.1 billion more than previously thought to fix chronic leaks and sewage spills. The next important deadline for the company is June 12, when Ofwat announces its draft decision on the company's next five-year business plan. [Extracted from the article]

Thames Water's largest shareholder, Omers Farmoor Singapore Pte, has written off the value of its stake in the company due to its worsening financial crisis. The Ontario Municipal Employees Retirement System, which owns Omers Farmoor Singapore Pte, made this decision after reducing the value of its holding in Thames' parent company, Kemble Water. Thames Water, which supplies water to London, is facing increasing pressure and may require government intervention. The utility is struggling to attract new investors, and current shareholders are distancing themselves from the company. [Extracted from the article]

Thames Water Utilities Limited, the UK's largest water utility, is facing a potential state takeover after a senior official at its biggest shareholder, Canadian pension fund OMERS Infrastructure, resigned from the company's board. Thames Water's parent company, Kemble Water Holdings Ltd, has already defaulted on its debt and is in talks with creditors about its future. The CEO of Thames Water has suggested that shareholders may still inject equity after June 12, but the resignation of the senior official indicates that existing shareholders are unwilling to invest further. This increases the likelihood of a government takeover and the search for new investors. Thames Water recently announced that it will need an additional £1.1 billion to address leaks and sewage spills. [Extracted from the article]

Thames Water, the largest water and sewage utility in the UK, has announced that it will need to spend an additional £1.1 billion to address chronic leaks and sewage spills. This brings their total investment over the next five years to £19.8 billion, a 7% increase from their initial plans. Despite not having the support of its shareholders for new equity, Thames Water is seeking approval from the regulator for its updated business plan. The company's spending plan is uncertain due to its high level of debt and the refusal of shareholders to provide additional funding. [Extracted from the article]

Thames Water and its financing arm, Kemble Water Finance, have had their credit ratings downgraded by Moody's Ratings after shareholders of the utility's owner refused to provide additional capital. Thames Water is the worst performing water and sewage company in England and Wales and requires funding to improve its infrastructure. Moody's also noted that Kemble Water Finance may be unable to make interest payments and repay debt. The downgrade reflects the increased risk of payment default and potential losses for creditors. [Extracted from the article]

Low-cost Canadian airline Lynx Air has entered creditor protection and will cease operations in three days due to low passenger volumes and rising fuel costs. Despite cost cuts and attempts to sell or merge the company, Lynx was unable to save itself. The airline had 11 destinations in Canada, six in the US, and one in Mexico, and had about 500 employees as of December. Lynx cited rising jet fuel costs, low passenger volumes after Covid-19 restrictions, and the grounding of its Boeing 737 MAX 8 planes as factors contributing to its downfall. Customers with bookings are advised to seek refunds from credit card companies. Lynx had received startup debt funding from Indigo Northern Ventures LP, and its chairman's private equity firm, Indigo Partners, backs other low-cost airlines. The airline had C$429 million in assets and C$600 million in liabilities as of December 31. Singapore-based aircraft lessor BOC Aviation Ltd. owns three of Lynx's nine 737 Max 8 planes and plans to retrieve them with the help of Indigo. BOC expects no issues in finding new airlines for the planes due to high demand for new-generation aircraft. Both Boeing and Airbus are facing challenges in delivering new jets, particularly those powered by RTX Corp.'s Pratt & Whitney engines. [Extracted from the article]

Rand Merchant Bank (RMB) has facilitated a R2.8 billion ($148.6m) debt and equity package for the South African IPP Sola Group's 150MW multi-offtake solar PV project. The project is one of the first utility-scale multi-buyer programs in South Africa and will sell power to multiple independent customers. RMB acted as joint mandated lead arranger under the senior debt tranche and also facilitated an equity bridge loan. The project is expected to be one of the largest solar PV installations in South Africa and is set to reach commercial operations in 2025. [Extracted from the article]

Rand Merchant Bank (RMB) has facilitated a R2.8 billion ($148.6m) debt and equity package for the South African IPP Sola Group for its 150MW multi-offtake solar PV project near Virginia in the Free State. The project is one of the first utility-scale multi-buyer programs in South Africa and will sell power to multiple independent customers. RMB acted as joint mandated lead arranger (MLA) under the senior debt tranche and equity bridge loan. The project is expected to reach commercial operations in 2025 and will be one of the largest solar PV installations in South Africa. [Extracted from the article]

Anthony Lacavera, the entrepreneur and founder of Wind Mobile, is reportedly leading a group that will acquire Wealth One bank through his investment firm Globalive. Wealth One has been consistently losing money, according to its recent quarterly filings, but as of November 30, it reported equity of nearly $131.5 million. Last year, Finance Minister Chrystia Freeland ordered three founding investors to divest their shares and for Wealth One to sever ties with them due to concerns of undue influence from the Chinese government. Wealth One was also fined by the federal anti-money-laundering authority for administrative failings. [Extracted from the article]

Vietnam Airlines has revived its subsidiary, Pacific Airlines, after its operations were suspended due to massive lease debts. Pacific Airlines has been relaunched with three Airbus A321s from its parent carrier, but it is no longer operating as a low-cost carrier and now offers business-class seating. Vietnam Airlines, which has been heavily impacted by the Covid-19 pandemic, recorded a net profit of $179 million for the first quarter of 2024, thanks in part to lessors forgiving over $220 million in Pacific Airlines lease debt. However, Vietnam Airlines still faces financial challenges and is focusing on cost management to address its negative shareholders' equity. [Extracted from the article]

Vietnam Airlines has signed a lease agreement for three Airbus A320neo aircraft, which will be delivered in the third quarter of 2024. These new planes will join the airline's existing fleet of 20 A321neo aircraft. This is Vietnam Airlines' second attempt at introducing A320neos, as previous lease agreements were cancelled during the pandemic. The airline has faced significant financial challenges due to the impact of COVID-19, but recently recorded a net profit for the first quarter of 2024. To address its negative equity, Vietnam Airlines is focusing on cost management strategies. [Extracted from the article]

Vietnam Airlines is implementing cost management strategies to reduce expenses by $126 million this year. The airline is focusing on negotiated price reductions, deferred payments, and restructuring loans. Vietnam Airlines acknowledges the challenging global economic and political landscape, with prolonged geopolitical conflicts and high fuel prices. The airline expects the Asia-Pacific region, especially Northeast Asia, to take longer to fully recover in terms of passenger volume. Despite returning to profitability in the first quarter of 2024, Vietnam Airlines still has negative shareholders' equity. The airline plans to expand its routes to Europe and Southeast Asia to increase revenue and adjust flight frequencies in the domestic market to meet demand. Vietnam Airlines also aims to improve efficiency by investing in narrowbody aircraft and converting the configuration of A321 aircraft. The airline is seeking opportunities to negotiate cost reductions and payment postponements with its creditors. Overall, Vietnam Airlines aims to reduce losses, balance revenue and expenditure, and capitalize on the positive signs in Vietnam's macroeconomic outlook. [Extracted from the article]

Thai Airways is receiving a financial injection of THB12 billion ($326.4 million) from the Thai government as part of its ongoing financial and business rehabilitation. The government plans to relist the airline on the Stock Exchange of Thailand in 2025, with the goal of retaining 40% of the shares while the private sector holds the remainder. Thai Airways reported a $300 million operating profit in the first quarter of 2024, although operating profit decreased by 15% compared to the previous year. The airline's shareholders' equity remains negative, but it has added eight leased second-hand Airbus A350-900s to its fleet. [Extracted from the article]