(MENAFN - AFP) Japanese carmaker Toyota said employees at its strike-hit complex in southern India returned to work Tuesday, ending a five-week standoff.
Unionised employees had refused to go back to their jobs at the twin plant complex near high-tech hub Bangalore following an end to an eight-day company lockout last month, amid a dispute over pay and other issues.
(MENAFN - AFP) Electrical appliance group Philips reported a 15.0-percent slump in net first quarter profit on Tuesday, blaming a weak performance by its new strategic activities in healthcare equipment.
Net profit plunged to 137 million euros ($190 million) because of a fall in underlying profit on a 12-month comparison.
(MENAFN - AFP) China will cut the amount of funds rural banks must keep in reserve by up to two percentage points, the central bank said Tuesday, easing monetary policy in a bid to boost its slowing economy.
The announcement comes after the government said last week that gross domestic product grew 7.4 percent year-on-year in the first quarter, sharply down from 7.7 percent ...
(MENAFN - AFP) British pharmaceutical giant GlaxoSmithKline is to sell its oncology business to peer Novartis for $16 billion and to buy the Swiss company's vaccines division, GSK announced on Tuesday.
Under a "major three-part transaction" GSK and Novartis have agreed also to create a consumer healthcare business, according to a statement issued by GlaxoSmithKline.