TNT Express reports further loss, plans disposals
AMSTERDAM (Reuters) – TNT Express (TNTE.AS: Quote, Profile, Research, Stock Buzz), whose $7 billion takeover by United Parcel Service (UPS.N: Quote, Profile, Research, Stock Buzz) was blocked last month, reported a fourth-quarter loss on Monday and said it was looking to sell troubled businesses in Brazil and China.
The collapse of the UPS deal leaves the Dutch express delivery firm having to confront a weak European market on its own.
ING cuts thousands more jobs at retail bank
AMSTERDAM, Feb 13 (Reuters) – Dutch financial services group
ING announced deeper job cuts in retail banking as it
prepares to separate its banking and insurance operations under
the terms of a state bailout.
ING is dismantling its once-fashionable bancassurer model
after the 2008 bailout, divesting insurance and investment
management and other assets through disposals or stock market
listings as it prepares to repay the aid.
Philips turns off TV in turnaround
AMSTERDAM (Reuters) – The Philips name has been synonymous with trusty TV sets and reliable video players; but in the overhaul of this lumbering Dutch behemoth over the past two years, both have been ditched.
Nothing, it seems, is sacred in Chief Executive Frans van Houten’s makeover of Philips to focus on the healthcare, lifestyle and energy needs of ageing and increasingly prosperous consumers – whether high-margin electric toothbrushes and shavers, street lighting or hospital equipment.
TomTom sounds profit warning on weak car market
AMSTERDAM, Feb 12 (Reuters) – TomTom, Europe’s
largest maker of navigation devices and among the three biggest
digital map-makers in the world, said earnings would halve this
year because of weak car sales and competition from providers of
free maps.
The firm’s share price plunged 10 percent on the warning,
hitting the lowest level since the end of August, 2012.
Analysis: Philips turns off TV in turnaround
AMSTERDAM (Reuters) – The Philips name has been synonymous with trusty TV sets and reliable video players; but in the overhaul of this lumbering Dutch behemoth over the past two years, both have been ditched.
Nothing, it seems, is sacred in Chief Executive Frans van Houten’s makeover of Philips to focus on the healthcare, lifestyle and energy needs of ageing and increasingly prosperous consumers – whether high-margin electric toothbrushes and shavers, street lighting or hospital equipment.
SNS Reaal subordinated debt holders to challenge nationalisation
AMSTERDAM, Feb 5 (Reuters) – Subordinated bondholders in SNS
Reaal plan to challenge the nationalisation of the Dutch
banking and insurance group, angered – like shareholders – by a
move that will wipe out their investments.
The 10-billion-euro ($13.6 billion) rescue on Friday of the
Netherlands’ fourth-largest financial services group, has
infuriated taxpayers, shareholders and some bondholders who are
partly footing the bill.
Philips exits shrinking home entertainment business
AMSTERDAM, Jan 29 (Reuters) – Philips Electronics
agreed to sell its audio and video business to Japan’s Funai
Electric Co for 150 million euros ($202 million),
quitting a traditional sector to focus on its more profitable
home appliances and healthcare operations.
The Dutch group had already hived off its troubled
television business by setting up a joint venture with Hong
Kong-based TPV last year, after struggling for years
to compete with lower-cost Asian makers of consumer electronics.
Dutch Queen abdicates, Willem-Alexander to succeed
AMSTERDAM (Reuters) – Dutch Queen Beatrix, who turns 75 on Thursday, announced she was abdicating in favor of her son, Prince Willem-Alexander, who will become king on April 30.
Willem-Alexander, 45, is married to Princess Maxima Zorrigueta and has three young children. Decades of grooming for the throne involved shaking off his image as a beer-drinking fraternity boy whose blunt comments upset the press and politicians.
War crimes prosecutor to investigate Mali violence
AMSTERDAM (Reuters) – The International Criminal Court has launched an investigation into suspected war crimes in Mali, its chief prosecutor said on Wednesday, as French forces launched a ground assault against Islamist rebels.
Islamists, some allied with al Qaeda, seized control of vast parts of northern Mali last year, raising concerns about human rights abuses and fears that the West African country could become a base for militant attacks in the region and beyond.
War crimes prosecutor to investigate Mali conflict
AMSTERDAM (Reuters) – The International Criminal Court’s chief prosecutor said she had launched a formal investigation into suspected war crimes in Mali, following rebels’ seizure of large tracts of the west African state.
Long considered one of West Africa’s most stable democracies, Mali descended into chaos in March when soldiers toppled the president, leaving a power vacuum that enabled Tuareg rebels to seize two-thirds of the territory.
