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Feb 12, 2013

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.

Feb 12, 2013

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.

Feb 12, 2013

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.

Feb 5, 2013

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.

Jan 29, 2013

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.

Jan 28, 2013

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.

Jan 16, 2013

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.

Jan 16, 2013

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.

Jan 14, 2013

UPS to drop TNT Express bid after European Commission veto

AMSTERDAM, Jan 14 (Reuters) – United Parcel Service Inc
said it would drop its 5.2 billion euro ($7 billion) bid
for Dutch delivery firm TNT Express on the expectation
of an EU veto, a sharp blow that halved the value of TNT’s
shares within minutes.

U.S.-based UPS, the world’s No. 1 package delivery company,
had sought to buy the Dutch firm to gain access to its European
network and business in fast-growing Asia and Latin America.

Jan 14, 2013

UPS to withdraw TNT Express bid after European Commission veto

AMSTERDAM (Reuters) – United Parcel Service Inc (UPS) said it will withdraw its 5.2 billion euro (4.3 billion pounds) bid for TNT Express because it expects the European Commission (EC) to block the deal.

UPS, the world’s No. 1 package delivery company, was seeking to buy Dutch peer and European market leader TNT Express to gain access to its network in the fast-growing Asian and Latin American markets.

    • About Sara

      "Sara Webb, bureau chief for Indonesia, has lived in Jakarta since 2007. She has worked as a journalist in Asia, Europe and the United States."
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