Dutch medical device maker Philips said Monday it had reached a $1.1 billion deal to settle US lawsuits over faulty sleep machines that have dogged the company.
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Yen slides to fresh 34-year low against dollar, stocks rally
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Competition proposed to deliver European space cargo to ISS
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Nestle sales slump on weak North America demand for frozen food
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German auto supplier Continental says to cut 7,150 jobs
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ReNEW Programme: Nedbank Creates Jobs and a Cleaner Future for South Africa
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Asian stocks track record day on Wall St, dollar extends losses
Asian markets rallied Thursday and the dollar extended losses after the Federal Reserve indicated it will begin cutting interest rates next year. Oil prices extended a rally that came after data showed US stockpiles fell from the previous week.
'Weak tea': Climate scientists push back against COP28 cheer
A UN climate deal that approved a call to transition away from fossil fuels has been hailed as a major milestone and a cause for at least cautious optimism. "The agreement to 'transition away from fossil fuels' was weak tea at best," he told AFP. "It's like promising your doctor that you will 'transition away from donuts' after being diagnosed with diabetes.
Brazil cuts interest rate another half-point
Brazil's central bank cut its key interest rate by half a point for the fourth straight time Wednesday, continuing the easing President Luiz Inacio Lula da Silva hopes will spur Latin America's biggest economy.
BP sacks former CEO for 'serious misconduct'
BP on Wednesday denied its former chief executive of more than £32-million ($40-million) payout because of his failure to disclose past personal relationships with colleagues. A year earlier, Brian Krzanich stepped down as chief executive of US computer chip giant Intel over a "past consensual relationship" with an employee in violation of the company's non-fraternisation policy. phz/srg/cw
Pfizer shares tumble on disappointing 2024 profit outlook
Pfizer issued a disappointing 2024 forecast Wednesday, denting shares as the company navigates a profound plunge in sales tied to the Covid-19 pandemic. The company, which reported more than $100 billion in revenue in 2022 due to the lift from Covid-19 vaccine and therapeutic sales, sees 2024 revenues of between $58.5 billion and $61.5 billion, according to its presentation.
Tesla files recall on 2 million vehicles to fix autopilot software
Electric car maker Tesla has initiated a recall of over two million vehicles in the United States due to a risk linked to its autopilot software, the US traffic safety regulator said Wednesday. - Recall to add driver alerts - The recall covers 2.03 million Tesla vehicles and includes the Models S, X, Y and 3.
French winemakers adopt US-style marketing to halt falling sales
France's wine makers, faced with a steep decline in sales, are turning to US-style marketing to revive their fortunes, including deep dives into global pop culture. Hipster culture, with its taste for authenticity, could also be turned into fertile ground for wine sales.
Food and non-alcoholic beverage inflation at a four-month high, South Africans worried
Statistics SA revealed the Consumer Price Inflation slowed to 5.5% from 5.9% in November and food and non-alcoholic beverage inflation remains at a four-month high.
German coalition reaches deal to end budget crisis
German Chancellor Olaf Scholz's coalition has reached a last-minute deal to end a budget deadlock, an official source said Wednesday, after a constitutional court ruling upended its spending plans and plunged it into a crisis. The ruling blew a huge hole in spending plans, forcing the government to adopt an emergency budget for 2023, and sending it scrambling for a new plan for 2024.
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