Town Hall News

AMSTERDAM (Reuters) – Dutch health technology company Philips expects to reach settlements this year relating to its global recall of respiratory devices, CEO Roy Jakobs said in an interview with Dutch financial daily FD published on Thursday. “I think we can at least reach a settlement on economic damages this year,” Jakobs said without giving details on the expected costs. Jakobs added he “hopes and expects” to also reach a […]

By Anna Pruchnicka (Reuters) -Poland’s biggest e-commerce platform Allegro said on Thursday it expects core earnings to rise in the first quarter, as it focuses on cost control amid continuing economic uncertainty. Allegro is looking to keep costs down as it integrates the Mall Group business it bought last year and adapts to consumers spending less. “There was what we call trading down starting to be more visible in the […]

SOROWAKO, Indonesia (Reuters) – U.S carmaker Ford Motor Co signed a final investment agreement with PT Vale Indonesia, and China’s Zhejiang Huayou Cobalt on Thursday to build nickel processing plant, valued at around $4.5 billion. The plant will be built in Indonesia’s Pomalaa. (Reporting by Gayatri Suroyo and Ananda Teresia; Editing by Martin Petty) Brought to you by www.srnnews.com

(Reuters) – Alexei Moskalyov, a Russian man sentenced to two years in prison for discrediting the Russian army, and whose daughter was taken into care, has been detained after fleeing house arrest, lawyer Dmitry Zakhvatov told Reuters on Thursday. “He has been detained, yes,” Zakhvatov said, without providing more details. The Russian-language news outlet SOTA reported earlier that Moskalyov, 54, had been arrested in Minsk, the capital of Belarus, a […]

By Foo Yun Chee BRUSSELS (Reuters) – Alphabet’s Google Cloud has accused Microsoft of anti-competitive cloud computing practices and criticised imminent deals with European cloud vendors, saying these do not solve broader concerns about its licensing terms. Google Cloud Vice President Amit Zavery urged EU antitrust regulators to take a closer look at the issue. Google Cloud’s first public comments on Microsoft and its EU deals underscores the rivalry between […]

BERLIN (Reuters) – German public sector employers and unions representing around 2.5 million workers entered a truce phase on Thursday after talks failed to resolve a wage dispute, days after the country’s biggest strikes in decades. A third round of negotiations lasting three days ended late on Wednesday without result, the Verdi and dbb unions said. “Despite clear movement, the employers were not prepared to make sufficient concessions to the […]

By Tom Westbrook SINGAPORE (Reuters) – Asia’s stock markets held recent gains on Thursday, as fears of a banking crisis receded and investors weighed whether a break-up of Chinese conglomerate Alibaba signals Beijing’s regulatory storm aimed at tech companies might finally be clearing. MSCI’s index of Asia-Pacific shares outside Japan rose 0.2%. Like the S&P 500 it’s recovered from March lows hit as fallout from the collapse of Silicon Valley […]

BRUSSELS (Reuters) – The U.S. Treasury Department is expected to give guidance on Friday on tax breaks for consumers buying electric vehicles and Europe’s auto sector and policymakers will be closely watching to assess the consequences for European industry. MADE IN AMERICA CONDITIONS The Treasury is not expected to specify vehicle models but merely lay out the subsidy criteria. Under the Inflation Reduction Act (IRA), U.S. consumers buying electric vehicles […]

By Jeslyn Lerh SINGAPORE (Reuters) – Oil was nearly steady on Thursday as a surprise drop in U.S. crude stockpiles offset a smaller-than-expected cut to Russian supplies, while investors closely watched developments on Iraqi Kurdistan oil exports. Brent crude futures fell 5 cents, or 0.1%, to $78.23 a barrel at 0630 GMT, while West Texas Intermediate crude rose 12 cents, or 0.2%, to $73.09 a barrel. Producers have shut in […]