Dutch electronics giant Philips plans to split business

Dutch electronics giant Philips has said it is planning to split the company in two, separating its lighting business from its healthcare division.

Both companies will continue to be based in the Netherlands and use the Philips name, it said in a statement.

Philips has been streamlining its business by selling off underperforming parts of the business in recent years.

Chief executive Frans van Houten said the move was meant to prepare the company for "the next century".

"I do appreciate the magnitude of the decision we are taking, but the time is right to take the next strategic step for Philips, as we continue on our transformation," he said.

"Both companies will be able to make the appropriate investments to boost growth and drive profitability, ultimately generating significantly more value for our customers, employees and shareholders".

Philips, which began as a lighting company back in 1891, said the separation would make it easier for the lighting business to enter new markets.

It also said it would

Ebola could wreck W/Africa economies, warns World Bank

The Ebola outbreak could have a catastrophic impact on the economies of Guinea, Liberia and Sierra Leone, the World Bank says.

The organisation says the economic impact of the virus could "grow eight-fold" in the "already fragile states".

However, it says the cost can be limited if the epidemic - and the accompanying fear - is contained by a fast global response.

Ebola has killed 2,461 people in West Africa - the largest ever outbreak.

US President Barack Obama has called the latest outbreak "a threat to global security", and announced a larger US role in fighting the virus. The measures announced included ordering 3,000 US troops to the region and building new healthcare facilities.

The UN Security Council is to hold an emergency meeting on Thursday to discuss the epidemic.

It is expected to