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Philips parts ways with CEO in midst of massive recall

Van Houten to leave after almost 12 years at helm To be replaced on Oct. 15 by Connected Care head Jakobs Shares up 2%, but down more than 50% since product recall AMSTERDAM, Aug 16 (Reuters) – Philips (PHG.AS) Chief Executive Frans van Houten will leave the company in October, the Dutch health technology firm …

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Exclusive: Tencent plans to divest Meituan stake worth $24 billion

Tencent seeks to kick off Meituan stake sale this year-sources Sale seeks to placate regulators, monetise 8-year-old bet-sources Stake sale likely to be done as a block trade – sources Move comes after Tencent’s divestments of JD.com, SEA stakes Meituan shares sink 10%; Tencent shares recover HONG KONG, Aug 16 (Reuters) – China’s Tencent Holdings …

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Former Deutsche Bank co-CEO Anshu Jain dies

Anshu Jain, co-CEO of Deutsche Bank, addresses the bank’s annual general meeting in Frankfurt, Germany, May 21, 2015. REUTERS/Kai Pfaffenbach Register now for FREE unlimited access to Reuters.com register Aug 13 (Reuters) – Anshu Jain, a top finance executive best known for helping German lender Deutsche Bank AG (DBKGn.DE) take on the largest Wall Street …

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Gaming industry’s fortunes fade as spending squeeze follows pandemic bump

Aug 10 (Reuters) – Gaming companies are facing a slowdown in demand for video games from pandemic highs, raising doubts about their ability to weataher an economic downturn. Rising prices and a lack of hit titles have added to problems for video game publishers Activision Blizzard Inc (ATVI.O) and Electronic Arts (EA.O) that are also …

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Disney tops Netflix on streaming subscribers, sets higher prices

A smartphone screen showing the “Disney+” logo is seen in front of the words “streaming service” in this illustration taken March 24, 2020. REUTERS/Dado Ruvic Register now for FREE unlimited access to Reuters.com register LOS ANGELES, Aug 10 (Reuters) – Walt Disney Co (DIS.N) edged past Netflix Inc (NFLX.O) with a total of 221 million …

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Foxconn starts to feel sting of slowing smartphone sales

Q2 profit T$33.29 bln vs T$31.02 bln market view Q2 revenue rose 12% to T$1.5 trln Sees flat growth for consumer electronics in Q3 Sees strong growth for cloud and networking products in Q3 Says has plan B if authorities don’t approve China Tsinghua investment TAIPEI, Aug 10 (Reuters) – Apple (AAPL.O) iPhone assembler Foxconn …

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Musk sells Tesla shares worth $6.9 billion, cites chance of forced Twitter deal

Tesla CEO Elon Musk attends the Tesla Shanghai Gigafactory groundbreaking ceremony in Shanghai, China January 7, 2019. REUTERS/Aly Song Register now for FREE unlimited access to Reuters.com register Aug 10 (Reuters) – Tesla Inc (TSLA.O) Chief Executive Officer Elon Musk sold $6.9 billion worth of shares in the electric vehicle maker, saying the funds could …

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Coinbase posts loss as crypto market turmoil hits trading volumes

A representation of the cryptocurrency is seen in front of Coinbase logo in this illustration taken, March 4, 2022. REUTERS/Dado Ruvic/Illustration Register now for FREE unlimited access to Reuters.com register Aug 9 (Reuters) – Coinbase Global Inc (COIN.O) reported a larger-than-expected quarterly loss as investors worried by this year’s rout in risky assets shied away …

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Chipmaker Micron tempers forecast as demand weakness deepens

Micron Technology’s solid-state drive for data center customers is presented at a product launch event in San Francisco, US, October 24, 2019. REUTERS/Stephen Nellis/File Photo Register now for FREE unlimited access to Reuters.com register Aug 9 (Reuters) – Memory-chip maker Micron Technology (MU.O) cut its current-quarter revenue forecast on Tuesday and warned of a negative …

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SoftBank plans Vision Fund job cuts after record net loss

SoftBank was in a bubble on valuations- Last No sacred areas for cost cuts SoftBank has exited stake in Uber Announced Y400 bln share buyback TOKYO, Aug 8 (Reuters) – SoftBank Group Corp (9984.T) is planning to cut headcount at its flagship Vision Fund investing arm, CEO Masayoshi Son said on Monday, after a crash …

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