(Reuters) – Six years ago Dutchman Ruben Beugels was on an Amsterdam tram that broke down, leaving him stuck in an out-of-the way place, and late for an appointment when he couldn’t quickly find another means of transport. “I was very frustrated at being late, and it was then that I thought, hey a scooter […]
Philips swings to loss as Europe’s economy falters
Philips swung to a fourth-quarter net loss as government cuts ate into its healthcare equipment business and a slowdown in European construction activity and consumer spending hit its lighting operations. Europe’s largest consumer electronics maker posted a net loss of 160 million euros ($210 million) after a profit of 465 million a year earlier, and […]
Investors tune in to Philips outlook, TV sale
When Philips Electronics reports earnings on Monday, investors will be bracing themselves for developments on restructuring, costs cuts and whether the TV business will be sold in the first quarter. The world’s biggest lighting maker, warned investors earlier in January to expect a fourth-quarter hit at its lighting division and healthcare unit due to weak […]
TomTom shares surge on strategy shift
TomTom, the Dutch navigation equipment and digital map maker, is switching focus away from the cash-bleeding personal navigation devices that made it a household name to its auto and mapping services to restore growth and profits. “We have started a restructuring program which will focus our organization on the areas where we see the greatest […]