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Aid slowly reaches Nigerian flood victims
Aid slowly reaches Nigerian flood victims
World
by  AFP

Along a highway engulfed by dark waters, Nigeria residents load dozens of boats full of food to bring assistance to the victims of the country's worst floods in a decade. In 2012, particularly deadly floods ravaged Nigeria, but residents said this year's disaster was becoming much worse.

Philips to cut 4,000 jobs as recall losses deepen
Philips to cut 4,000 jobs as recall losses deepen
Business and Economy
by  AFP

Dutch medical device manufacturer Philips said Monday it will slash 4,000 jobs after a massive financial hit for a recall of faulty sleep respirators pushed it into loss. - 'Class-action lawsuits' - Philips first announced a recall in June 2021 after sound-dampening foam on some of its sleep respirators was found to degrade under certain conditions.

Eurozone contracts further as Germany heads for recession
Eurozone contracts further as Germany heads for recession
Business and Economy
by  AFP

Germany, the EU's top economy and Europe's export powerhouse, looks headed for imminent recession, according to a closely watched survey Monday that pointed to a deepening eurozone contraction. There are "growing signs of an impending recession in the eurozone's largest economy," S&P Global Market Intelligence said as it released its eurozone purchasing managers' index for October.

Credit Suisse to pay 238 mn euros to settle French fraud probe
Credit Suisse to pay 238 mn euros to settle French fraud probe
Business and Economy
by  AFP

Credit Suisse has agreed to pay 238 million euros ($234 million) to avoid prosecution on French money laundering and tax fraud charges, according to a settlement approved Monday by a Paris court. The settlement will see Switzerland's second-largest bank pay a fine of 123 million euros and pay an additional 115 million euros in damages and interest to the French state.