Optimism is in short supply among industrial chief executives. Congested ports and a scarcity of labour and goods like semiconductors have bought some companies to a halt. Koninklijke Philips , the 35 billion euro Dutch group that makes everything from MRI machines to electric toothbrushes, is feeling the pain. Chief Executive Frans van Houten on Monday cut his revenue-growth targets, citing supply-chain problems. Chip shortages and shipping delays might stop him from delivering around 200 million euros worth of orders in the fourth quarter, delaying revenue into next year.
In a taxi in Rome on Sunday night, I decided to check in for my flight back to Zurich the next morning. Weirdly, the Alitalia app showed no upcoming reservation. Then I remembered a not-particularly urgent email from Alitalia a couple of days earlier. Searching my inbox, I found it under the subject: “About your booking reference”.
International Monetary Fund boss Kristalina Georgieva has ridden out data-rigging allegations. Now she has got a lot to prove. Keeping the job isn’t enough for any ambitious leader with an eye on legacy. The IMF’s executive board late on Monday expressed its confidence in the Bulgarian economist after a multi-meeting review of allegations that she .
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It’s time for Jamie Dimon, Charlie Scharf, Andrea Orcel and David Solomon to take one for the team. The bosses of JPMorgan , Wells Fargo , UniCredit and Goldman Sachs , respectively, head the last of the big western financial groups yet to sign up to the so-called Glasgow Financial Alliance for Net Zero, an umbrella organisation that requires members to set meaningful decarbonisation commitments. As they mull joining, these holdouts may want to recall 2008.