Dutch health technology company Philips on Wednesday said it expected fourth-quarter core profit to drop around 40% to about 650 million euros ($739.25 million), hit by a global shortage of electronic components and the fallout of a massive recall of ventilators. Comparable sales fell 10% on a yearly basis to 4.9 billion euros, Philips said […]
Reuters
Healthcare communications software provider TigerConnect has raised $300 million in growth investment from private equity firm Vista Equity Partners, sources familiar with the matter told Reuters on Monday. The valuation of TigerConnect wasn’t known. It last raised $45 million at a valuation of $370 million in September 2020, according to PitchBook data, counting HealthQuest Capital […]
Canadian wireless giant Rogers Communications Inc said on Monday it had appointed Tony Staffieri as president and chief executive officer from interim CEO, following a months-long boardroom battle on who should lead the company. The dispute began after company Chairman Edward Rogers, the only son of the company’s late founder Ted Rogers, attempted to drop […]
Wall Street’s main indexes tumbled on Monday with Nasdaq leading the declines as technology stocks dropped on expectations of a sooner-than-expected rate hike that pushed U.S. Treasury yields to fresh two-year highs. While the Nasdaq pared its losses in the afternoon session it had earlier fallen as much as 10.37 percent below its intraday record […]
French technology consulting company Atos issued a profit warning on Monday, its second in seven months and coming just several days after its new CEO Rodolphe Belmer, appointed in October, officially took over the reins. Atos said its financial objectives stated in July could not be met, due both to delays on deals with customers […]
China’s New Oriental dismissed 60,000 employees and saw operating income plunge by 80% after Beijing enforced new sweeping rules on the country’s private education industry that barred for-profit tutoring last year, according to its founder. Yu Minhong, who founded the company in 1993, published the figures on his official WeChat account on Saturday in a […]
The European Union plans to legislate in the coming months to require technology companies to do more to tackle child sexual abuse, beefing up current voluntary arrangements, a top official said in a newspaper interview. EU Home Affairs Commissioner Ylva Johansson told Germany’s Welt am Sonntag that internet service providers and social media firms had […]
Social media platform Reddit Inc, whose message boards became central to meme stock trading frenzy in 2021, is tapping Wall Street banks Morgan Stanley and Goldman Sachs Group for its initial public offering, a source familiar with the matter told Reuters on Friday. Reddit had confidentially filed for an IPO in December and is aiming […]
GameStop Corp’s plans to expand its non-fungible tokens (NFTs) marketplace and partner with crypto firms boosted the video game retailer’s shares by 17.5 percent in premarket trading and also lifted other meme stocks. GameStop shares have been languishing for a while, like several other meme stocks, as interest from retail investors dwindled. The lot, which […]
The United States and Japan on Friday voiced strong concern about China’s growing might and pledged to work together to push back against attempts to destabilize the region, including against emerging defense threats. The comments from the two allies, in a joint statement that followed a virtual “two-plus-two” meeting of their foreign and defence ministers, […]