AFP
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Philips lowers sales outlook on drop in China orders
Dutch medical device maker Philips lowered Monday its full year sales target, blaming drop in demand from Chinese hospitals as it released third quarter results. Third quarter sales came in at 4.37 billion euros ($4.7 billion), a drop of two percent from the same period last year.
Oil prices tumble as Iran fears ease, yen weakens after Japan polls
Oil prices tumbled Monday with markets relieved that Israel's strikes on Iran had avoided the country's energy infrastructure while the yen fell to a three-month low after Japan's ruling party suffered an election drubbing.
Olympus CEO resigns over alleged illegal drugs purchase
The German CEO of major Japanese optical equipment manufacturer Olympus has stepped down after allegedly buying illegal drugs, the company said on Monday.
In uncertain US election, two prestige papers refuse to pick sides
Days ahead of a close presidential election, two of the most prestigious liberal American newspapers have declined to give their usual endorsements to the Democratic Party candidate, sparking furious reactions.
China's second-generation factory owners go digital to combat challenges
Dressed in a pristine white knit top, Robyn Qiu cut an incongruous figure in her parents' dusty, hangar-like metal hardware factory in eastern China as she gestured excitedly while an assistant filmed her on a smartphone. When Qiu was a child, her parents encouraged her to aim for a white-collar office job far from the dust and din of the factory floor.
Indonesia bets on SE Asia's first battery plant to become EV hub
Rows of robotic arms move with precision to assemble nickel-based battery cells on the production line at Indonesia's inaugural electric vehicle battery plant, the first in Southeast Asia. "This factory and ecosystem is very important for Indonesia's future," he said, adding that in the "near future, the material will come from Indonesia to make a battery cell, to make EVs".
End of golden era for Chinese investors in Bordeaux wine
After over a decade of snapping up Bordeaux wine estates, buying into a dream of elegant living in France and good earnings in their home market, many Chinese investors are now selling up.
Ex-Abercrombie CEO pleads not guilty to sex crimes
The former chief executive of the Abercrombie and Fitch clothing giant has pleaded not guilty to trafficking male models for sex parties around the world, US prosecutors said Friday. Jeffries, Smith and the pair's fixer James Jacobson allegedly used a "casting couch" ploy to groom aspiring male models to attend sex parties at which victims were plied with alcohol and drugs.
Moody's cuts France outlook, opening door to credit downgrade
Ratings agency Moody's downgraded France's outlook Friday, opening the door to a potential credit rating cut as it cited concerns over the country's finances. In the same statement, the agency affirmed France's credit rating at Aa2, saying this was supported by its "large, wealthy and diversified economy."
AFP
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