Industrials

Hagemeyer capitulates to rescue rights issue

9 Dec 2003

The Dutch business services group s dire creditworthiness was exacerbating its problems by prompting an exodus of customers. After months of shillyshallying, its lenders are now backing a rescue rights issue a solution that was available all along.

Nokia’s new structure may conceal its true costs

8 Dec 2003

The Finnish company s rejig will emphasise the cash generated by its phones. That could be a step to greater transparency. But its newlycreated multimedia and enterprise divisions could equally serve as a dumping ground to flatter its mobile phone results.

Mobile phone makers set for jolly Christmas

5 Dec 2003

But a postholiday hangover may be just around the bend as phone component suppliers report panic orders . Siemens and Motorola are struggling to keep up with handset demand.

Philips writes off TV jv for E800m

3 Dec 2003

The Dutch conglomerate is taking a surprise writedown on its TV joint venture only 2 years after its establishment. Shortening product cycles and ferocious price competition have claimed another victim in electronics.

GE to float $10bn insurance unit

19 Nov 2003

On its own merits, the deal makes sense: the IPO market is buoyant for financial services, and Genworth's growth dilutes the parent's. But it also suggests the big challenge for GE is not just delivering growth, it's about slowly breaking up the conglomerate.

French government sells remaining Thomson stake

4 Nov 2003

The action is certainly well timed, with shares in the electronics company up 20% over the past week. This looks like a privatisation that has gone done well in the market unlike the Italian government's sale of Enel shares.

Thomson lowers profit forecast

13 Jun 2003

The French consumer electronics manufacturer is belatedly restructuring its US television business. Thomson seems to have lost something with the exit of Thierry Breton. But is that style or substance?

Alcatel amends terms of E1bn convertible

3 Jun 2003

The French group apparently sold the original deal to banks. It must explain why it did not hold them to any guarantees. The revised terms are still great for Alcatel. But the company has tested the limits of investors enthusiasm.

Philips quiet on outlook

11 Feb 2003

The Dutch IT conglomerate is managing its balance sheet expertly. But it is still coping with price pressure rather than anticipating a cyclical recovery.

Monti’s mounting mergers mess

22 Oct 2002

What the doctor ordered

15 Oct 2002

Un-pallet-able

28 Aug 2002

Mergermarket: Legrand finale

4 Jun 2002

Le grand mess

22 May 2002

Shareholder Valeo

25 Apr 2002

Wireless makers face slowdown

2 Apr 2002

Unplugged.

18 Mar 2002

Show us the money

19 Feb 2002

Short circuit

29 Jan 2002

Marconi’s schizophrenia.

6 Jan 2002