The CEO of Philips told CNBC on Tuesday that that splitting the company into two separate divisions would create growth opportunities.» Read More
AMSTERDAM— Royal Philips NV is to split off its lighting division to create two separate companies, the latest in a string of radical restructurings by one of Europe's best-known corporations. "I do appreciate the magnitude of the decision we are taking, but the time is right to take the next strategic step," Chief Executive Frans van Houten said.
European shares closed flat on Monday, at the start of a week packed with important economic data.
Philips Electronics said on Friday it had won a patent infringement cases against Nintendo in the United Kingdom.
Sony chief executive said the company would complete a stepped-up restructuring drive and forecast a tripling in operating profit.
Some of the biggest names in European business have further complicated the dilemma currently facing Mario Draghi.
European shares closed higher on Tuesday, starting a shortened trading week on a positive note.
Dutch electronics conglomerate Philips reported a dip in net income on Tuesday, but its CEO was upbeat on Europe's outlook.
European equities closed the session in positive territory after consumer data and earnings in the U.S. helped to boost sentiment in afternoon trade.
Dutch technology company Philips reported fourth quarter sales that missed forecasts on Tuesday.
European shares closed near five-year highs on Monday, helped by gains from Philips and SAP, as well as encouraging U.S. housing data.
Nick Xanders, head of European equity strategy at BTIG, discusses European equities following results from SAP and Philips and says the increase in the euro is "a big issue".
European shares trimmed losses to close lower on Tuesday, but investors remained cautious about the Federal Reserve's two-day policy meeting.
Frans van Houten, CEO of Philips, stresses the lower prospect for growth short-term due to concerns about the global economy and discusses the group's capital allocation policy.
Global economic difficulties will persist and could affect Dutch electronics giant Philips, the group's CEO told CNBC Tuesday after raising its financial targets and announcing a share buyback.
The supervisory board of Siemens confirmed the resignation of Chief Executive Peter Loescher on Wednesday and appointed Joe Kaeser, the company's Chief Financial Officer as the new CEO.
Frans Van Houton, CEO of Royal Philips, tells CNBC that he is focused on innovation, entrepreneurism and going for growth in the growth markets.
Frans Van Houten, CEO of Royal Philips Electronics, tells CNBC that the start of the year was as soft as they expected with particular weakness in Europe and the US.
It's make-or-break time for the first-quarter earnings season, and it comes just as the stock market is showing signs of strain.
U.S. stock index futures pointed to a slightly higher open on Wednesday, with eyes on the Federal Reserve’s first policy statement of 2013.
European equities scaled fresh two-year highs on Tuesday, boosted by miners, as optimism about economic recovery gained momentum following encouraging U.S. home price data and comments over growth in top metals consumer China.