Hard Times for Big Business
Some of the Netherlands' biggest companies are in difficulties. In March, the Amsterdam Stock Exchange fell to its lowest point in eight years, when investors' confidence was hit by reports of falling profits, losses and a major accounting scandal. Ahold (the Albert Heijn supermarkets) shocked everyone when it hit the headlines because of fraudulent book-keeping. The banks had to rush to its aid with massive loans, and managing director Van der Hoeven and Finance Director Meurs resigned immediately. Insurance company Aegon, transport concern Nedlloyd and the food company Numico are all working hard to come up with reasonable results. Numico, formerly a big name in baby food, wants to return to this sector and get rid of its newly acquired vitamin companies. |
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