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Philips stops selling sleep devices in US amid recall woes
Under-fire Dutch medical device maker Philips said Monday it would halt new sales of sleep machines in the United States after a series of recalls that continued to weigh on results. "Until the relevant requirements of the consent decree are met, Philips Respironics will not sell new... sleep therapy devices or other respiratory care devices in the US," the company said.
Italy unveils energy, migration plan to African leaders
African leaders gathered at a Rome summit Monday where Prime Minister Giorgia Meloni will unveil her much-hyped plan for the continent, aimed at transforming Italy into an energy hub and stopping migration. - Pilot schemes - Meloni has said the plan is to start with a series of pilot schemes with the aim of then extending them across the continent.
Cement giant Holcim's shares soar after N. America spinoff news
Shares in Swiss construction giant Holcim surged on Monday after it announced plans to fully spin off its North America business. The hike came a day after the company announced plans to list its North American business in the United States during the first half of 2025 "with full capital market separation".
China's Evergrande: what happens next after liquidation order?
A Hong Kong court on Monday issued a winding-up order for Chinese real estate giant Evergrande, as the embattled firm teeters on the brink of bankruptcy. Evergrande was once China's biggest real estate firm, a giant in a sector that ballooned as property became the foundation of a burgeoning middle class's growing wealth.
Oil rises on fresh Middle East fears, equities advance
Oil rose Monday on fresh Middle East fears as Joe Biden pledged to retaliate after Iran-backed Huthi rebels killed three US service members in a drone attack, while equities were boosted by China's latest move to support its troubled markets.
Hong Kong court orders liquidation of China's Evergrande
A Hong Kong court on Monday issued the liquidation of battered Chinese property giant Evergrande after lawyers failed to convince a judge it had a working restructuring plan.
Wall Street girds for ugly Boeing earnings as CEO faces scrutiny
Boeing's 737 MAX 9 planes have begun to fly again after the January 5 Alaska Airlines scare, but the episode is expected to weigh on the aviation giant's finances for the foreseeable future.
UK Post Office chief sacked as firm reels from IT scandal
UK Business Minister Kemi Badenoch on Sunday said she had sacked the chairman of the Post Office amid tensions over the scandal of hundreds of subpostmasters wrongly convicted of theft due to faulty accounting software. Glitches in the IT system made it look as if money was missing leading to the conviction of over 700 subpostmasters for theft or false accounting between 1999 and 2015.
US Fed rate cuts become question of when, not if
The US Federal Reserve is widely expected to start cutting interest rates in the coming months, as inflation edges closer to its long-run target of two percent. Futures traders now expect at least five rate cuts this year, assigning a probability of almost 90 percent to a first cut by the May interest rate decision, according to an AFP analysis of CME Group data. da/nro
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