WEU

US court rejects J&J’s bankruptcy strategy for thousands of talc lawsuits

Jan 30 (Reuters) – A U.S. appeals court on Monday dismissed an attempt by Johnson & Johnson (JNJ.N) to offload tens of thousands of lawsuits over its talc products in bankruptcy court. The ruling marked the first major repudiation of an emerging legal strategy that could upend US corporate liability law. J&J is among four …

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Philips to cut 13% of jobs in safety and profitability

Philips will cut another 6,000 jobs Increases number of layoffs since October to 13% of current workforce Shares up 5.5% as fourth quarter results beat expectations AMSTERDAM, Jan 30 (Reuters) – Dutch health-tech company Philips (PHG.AS) will cut an additional 6,000 jobs worldwide as it tries to restore profitability and improve the safety of its …

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Germany’s economy contracts unexpectedly in the fourth quarter, raising the specter of recession

Q4 GDP at -0.2% Q/Q vs forecast of 0.0% Decrease mainly due to lower private consumption Economists say a mild recession is likely BERLIN, Jan 30 (Reuters) – Germany’s economy contracted unexpectedly in the fourth quarter, data showed on Monday, a sign that Europe’s biggest economy may be heading into a much-anticipated, albeit less likely, …

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Boeing’s 747, the original jumbo jet, prepares for final dispatch

The last 747 freighter will be delivered to Atlas Air Ends over five decades of commercial production Boeing on the verge of bankruptcy, before becoming a cash cow Easy to fly, says rock star pilot Bruce Dickinson SEATTLE/PARIS, Jan 29 (Reuters) – The Boeing (BA.N) 747, the original and arguably best-looking “Jumbo Jet”, revolutionized air …

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Rheinmetall plans to increase ammunition production and HIMARS production in Germany

DUESSELDORF, Jan 29 (Reuters) – German arms maker Rheinmetall is set to dramatically increase production of tank and artillery ammunition to meet strong demand in Ukraine and the West, and may start producing launchers. multiple HIMARS rockets in Germany, CEO Armin Papperger said. Reuters. He spoke days before German defense industry bosses were due to …

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British regional airline Flybe ceases operations and cancels all flights

Collapses for the second time in three years 276 workers fired by administrators About 75,000 customers had future bookings Hurt by the delay in the delivery of planes Rivals see rebound in demand LONDON, Jan 28 (Reuters) – British regional airline Flybe ceased operations on Saturday for the second time in three years, with all …

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Bill Ackman says Hindenburg’s Adani report is ‘very credible’

Jan 27 (Reuters) – U.S. billionaire investor Bill Ackman said on Thursday he found short seller Hindenburg Research’s report on India’s Adani Group “very credible and extremely well researched”. Shares of seven listed Adani Group companies lost $10.73 billion in market capitalization in India on Wednesday after the US short seller released the report, which …

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