Dutch news in brief, 29 July 2004

29th July 2004, Comments 0 comments

Shell reaches deal on regulatory inquiries

Shell reaches deal on regulatory inquiries

Anglo-Dutch fuel multinational Shell Group has agreed to pay USD 150 million (EUR 99 million) to settle regulatory investigations in the US and the UK, it was reported Thursday. Shell is under investigation for overstating its reserves. Shell will pay USD 120 million to the US Securities and Exchange Commission and GPB 17 million (USD 30 million) to the UK Financial Services Authority. Bloomberg.com quoted Shell chief Jeroen van der Veer, 56, saying the settlement was a "hopeful"' step towards ending the reserves scandal that cost the jobs of three senior executives earlier this year. Meanwhile, Shell also said on Thursday second quarter net income rise to USD 4 billion, a 54 percent change compared with the same time last year.

Scoubidou toys hauled off shop shelves

Toy shops such as Toys "R" Us, Blokker, Bart Smit and Intertoys stopped selling the popular Scoubidou ropes to children on Thursday in reaction to research indicating they contain poisonous softening agents. The Dutch Food and Consumer Product Safety Authority (VWA) is now investigating how quantity of chemicals released if children suck on the small plastic cords, but said it might take several weeks before the results are known. The industry-wide concern was prompted after research bureau TNO found a large amount of poisonous substances in a test on Scoubidou cords from a Blokker outlet. Scoubidou said it took the claims very seriously, but countered that the toys were designed for children above the age of three and were not intended to be placed in the mouth. Scoubidou ropes allow children to make fun toys and objects by tying various knots.

Ahold turnover falls again

Turnover of Dutch retailer Ahold decreased again in the second quarter of this year, coming in at EUR 12.3 billion. That was 5 percent lower than in the same period last year, Radio Netherlands reported. Ahold attributed the lower sales on the lower US dollar exchange rate and the sale of subsidiaries. Turnover fell by 11 percent in the first quarter of this year.

Dutch market speed trap warnings

A CD ROM to detect speed traps on the road ahead has been put on
the market by a Dutch firm, it was revealed Thursday. Once fitted in a car's GPS system, the device will give warning of the 2,200 speed cameras located across the Benelux region — Belgium, the Netherlands and Luxembourg. Alternative versions have also been invented for other European countries, Belgian daily newspaper Het Belang van Limburg reported. The device emits a warning sound 200m before the radar and shows the permitted speed limit in that area on a GPS screen.

[Copyright Expatica News 2004]

Subject: Dutch news

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