Philips parts ways with CEO in the midst of massive recalls

Van Houten leaves after nearly 12 years in office To be replaced on October 15 by Connected Care President Jacobs Stocks are up 2%, but down over 50% since the product recall AMSTERDAM (Reuters) – Philips (PHG.AS) The Dutch health technology company said, on Tuesday, that CEO Frans van Houten will leave the company in … Read more

Stocks and dollar firms drift as growth fears stifle sentiment

European shares rose 0.3% thanks to defensive names Markets have generally calmed down amid growth concerns in China and the US Dollar rises as investors seek safety LONDON (Reuters) – European shares slowly crept higher on Tuesday as investors sought safety in defensive names, while risk aversion also lifted the safe-haven dollar after weak Chinese … Read more

China unexpectedly cuts key interest rates as economic data disappoints

Leading indicators slowed from June, below expectations Youth unemployment reached a record level in July Real estate investment, sales decline, house price declines deepen The People’s Bank of China cuts key interest rates to revive credit demand BEIJING/SHANGHAI (Reuters) – China’s central bank cut key lending rates in a surprise move on Monday to revive … Read more

Exclusive: Tencent Plans to Abandon $24 Billion Meituan Stake

Tencent seeks to start selling Meituan stake this year – sources Sale seeks to appease regulators, monetize 8-year-old betting sources Shares likely to be sold as group trading – sources The move comes after Tencent withdrew JD.com’s investments, SEA stakes Mituan shares are down 10 percent; Tencent shares are recovering HONG KONG (Reuters) – China’s … Read more

Cryptoverse: An Electric Aether Jumping About to Merge

Representations of the cryptocurrency Bitcoin, Ethereum, and Dash sinking into the water in this illustration taken on May 23, 2022. REUTERS/Dado Ruvic/Illustration Register now to get free unlimited access to Reuters.com Register Aug 16 (Reuters) – It appears that the massive upgrade of ethereum is underway. finally. After years of delays, it looks like a … Read more

NYSE writedowns suggest Beijing may be willing to compromise on US review dispute analysts

A trader enters the floor of the New York Stock Exchange (NYSE) in New York City, US, June 14, 2022. REUTERS/Brendan McDermid Register now to get free unlimited access to Reuters.com Register HONG KONG (Reuters) – The move to delist five Chinese state-owned companies from the New York Stock Exchange (NYSE) suggests Beijing may be … Read more

Exclusive: Wall Street revives Russian bond trading after US approval

NEW YORK (Reuters) – Several major Wall Street banks have begun offering to facilitate trading in Russian bonds in recent days, according to banking documents seen by Reuters, giving investors another chance to divest from assets widely seen in the West as toxic. . Most US and European banks pulled out of the market in … Read more

Asian stocks mixed, China cut interest rates amid data disappointment

FILE PHOTO – People pass an electronic screen displaying Japan’s Nikkei stock price index inside a conference hall in Tokyo, Japan, June 14, 2022. REUTERS/Issa Kato Register now to get free unlimited access to Reuters.com Register https://tmsnrt.rs/2zpUAr4 Nikkei rises, S&P 500 dips People’s Bank of China (PBOC) cuts key interest rates, China data misses expectations … Read more

China unexpectedly lowered two key rates, withdrawing cash from the banking system

A picture of the headquarters of the People’s Bank of China (PBOC), the central bank, in Beijing, China on September 28, 2018. REUTERS/Jason Lee Register now to get free unlimited access to Reuters.com Register SHANGHAI (Reuters) – China’s central bank unexpectedly cut a key interest rate for the second time this year and pulled some … Read more

Wide-body plane demands buzz again as Boeing 787 returns to battle

A Boeing 787-10 Dreamliner sits on the tarmac before a handover ceremony for Singapore Airlines at the Boeing South Carolina plant in North Charleston, South Carolina, US, March 25, 2018. REUTERS/Randall Hill Register now to get free unlimited access to Reuters.com Register Increased demand for long-range aircraft after a long period of downturn Saudi Arabia … Read more