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...John Elkann, scion of Italy’s Agnelli dynasty, has said its €2.6bn investment in Dutch conglomerate Philips was part of a natural evolution for family holding company Exor as it focuses investments on the...
...Philips shares fell 7 per cent on Monday morning, and are about 60 per cent off their 2021 highs....
...Dutch medical equipment group Philips hardly qualifies. Devices to manage sleep disorders are giving its shareholders nightmares....
...Because some devices are no longer in use, Philips expects its programme to target up to 5.6mn machines....
...Jakobs said Philips was capitalising on demand from a healthcare sector under strain from a shortage of workers....
...in the world and which is now part of global car group Stellantis, Exor holds major stakes in businesses from luxury car manufacturer Ferrari and Juventus Football Club to Dutch medical equipment maker Philips...
...Please tell us what you think of Exor’s investment in Philips in the comments section below....
...Royal Philips is anticipating more than $600mn of legal costs in the US arising from millions of potentially faulty medical devices....
...Companies still present in Russia include Italy’s UniCredit, Austria’s Raiffeisen, Switzerland’s Nestlé, the UK’s Unilever and the US’s Philip Morris International and PepsiCo....
Hein Schumacher replaces Alan Jope, who is retiring after investor discontent with lacklustre performance
...Signify, the former Philips lighting division, chipmaker NXP and truckmaker DAF are also innovators based in Eindhoven....
Dutch-Swiss company is exposed to international commodity prices it has little ability to restrict
...Spun out of Philips in the 1980s, ASML started its operations in a portacabin in the car park of its parent company’s site in Eindhoven, a small city of less than 300,000 residents....
...“These initial actions are needed to start turning the company around in order to realise Philips’ profitable growth potential.”...
...Philips decided to recall its devices, worn over the face, in April 2021 in the US after years of complaints there. In November the US Food and Drug Administration issued a report blaming Philips....
...Jakobs joined Philips in 2010 and has held various positions, starting as chief marketing and strategy officer for Philips Lighting....
...Monday’s guidance cuts follow a profit warning by Philips in January....
Tie-up involves one-to-one share offer plus €3.5bn in cash as part of shift towards health market
...March US, Federal Reserve releases its Beige Book UK Consumer Price Index (CPI) data for March UK, house price index update for March Results: Tesla Q1, IBM Q1, Morgan Stanley Q1, Equifax Q1, Heineken NV...
...In December, Philips said tests found long-term health consequences were “not typically anticipated”....
One thing is for sure. We won’t be going back to the 2010s
...Philips said it was “unable to reliably estimate” any legal liabilities....
Exchanges group activates break clause 6 years early as it tilts operations away from London
Euronext has set out plans to break the mould with its €4.4bn purchase of Borsa Italiana following deals in Dublin and Oslo
...Frans van Houten, chief executive of Philips, has downplayed the litigation risks....
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