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Philips cuts 6,000 more jobs after sleep device recall
Embattled Dutch medical tech maker Philips said on Monday it will slash 6,000 more jobs worldwide after fresh losses caused by a massive recall of faulty sleep respirators. Philips announced a global recall in 2021 of its appliances to treat people suffering from sleep apnoea.
Renault to reduce stake in Nissan, rebalancing alliance
French automaker Renault will slash its stake in partner Nissan as part of a deal rebalancing the rocky alliance between the two companies, the Japanese firm said Monday. Renault will reduce its stake from 43.4 percent to 15 percent, the same size as Nissan's stake in its French counterpart, as part of a broad agreement reshaping relations between the firms, Nissan said in a statement.
Toyota top-selling automaker for third year running
Japan's Toyota was the world's top-selling automaker in 2022, retaining its lead over German rival Volkswagen for the third year, company data showed Monday. Mio Kato, an analyst at Lightstream Research who publishes on Smartkarma, told AFP that Toyota was likely to keep its top-selling crown in the near term.
Indian Adani empire strikes back after fraud report
Stocks in several of Gautam Adani's companies clawed back on Monday some of last week's heavy losses that wiped out almost $45 billion from the Indian tycoon's vast business empire. On Monday the 60-year-old was at 11th position in the ranking, which put his wealth at $90.7 billion, below fellow Indian tycoon Mukesh Ambani.
'Avatar' sequel now ranks fourth all-time in global sales
"Avatar: The Way of Water" continued to dominate the box-office charts, taking in an estimated $15.7 million this weekend in North American theaters to make it the fourth-leading global grosser of all time.
Asian markets mixed as traders await rate decisions
Asian stocks were mixed Monday as traders struggled to maintain momentum from last week's rally, though Shanghai advanced as mainland Chinese markets reopened after a week-long Lunar New Year break. Chinese markets are "catching up with the performance of Hong Kong and US markets during the Chinese New Year", said Willer Chen, at Forsyth Barr Asia.
ECB to hike rates again, but outlook brightens
The European Central Bank is expected to push on with its inflation fight Thursday with a fresh rate hike, even as signs grow the eurozone might have passed the worst of an economic shock. But ECB president Christine Lagarde has repeatedly stressed rates will continue to rise at a steady pace, and the bank is expected to agree on a 50-basis point hike Thursday.
Top Republican to meet Biden on avoiding US debt default
Top Republican Kevin McCarthy said he would meet Wednesday with Joe Biden to discuss avoiding a US debt default, but warned the president must rethink his refusal to consider spending cuts in exchange for raising the borrowing limit.
S.Africa not ditching coal 'just like that', Ramaphosa cautions
Coal-rich but energy-starved South Africa will not immediately abandon its fossil-fuelled electricity generating plants as it transitions to cleaner forms of power, President Cyril Ramaphosa said Sunday. South Africa, one of the world's largest polluters which generates about 80 percent of its electricity through coal, is in the grip of an energy crisis.
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