ZURICH, Jan 24 (Reuters) – Swiss specialty chemicals and
life sciences group Lonza reported a better than
expected rise in profits on Thursday but dampened expectations
of another big jump this year, taking the edge off a two-month
rally in the share price.
The Basel-based firm, which also produces pharmaceutical
ingredients for drugmakers such as GlaxoSmithKline, is
now aiming for 10 percent growth in earnings before interest and
tax (EBIT) in 2013, Chief Executive Richard Ridinger told
reporters on a conference call.
ZURICH, Jan 23 (Reuters) – Daniel Vasella will step down
next month as chairman of Novartis after 17 years
leading the Swiss drug company which on Wednesday forecast a
return to growth in 2014.
The Basel-based company, grappling like others with a wave
of patent expiries, named Bayer healthcare head and
previous contender for the CEO role at Novartis, Joerg
Reinhardt, as its new chairman from August 1.
LONDON/ZURICH (Reuters) – Private investors are set to pour more money into emerging market countries this year as their economies grow strongly and interest rates in developed markets remain low, a global banking group said on Tuesday.
Europe’s emerging east especially is expected to benefit if the euro zone debt crisis continues to ease, after inflows to the region slowed last year, the Institute of International Finance said in a report.
ZURICH, Jan 18 (Reuters) – Swiss companies exporting to the
euro zone have received a boost from the recent sharp drop in
the Swiss franc, yet the currency’s decline needs to be bigger
and more sustained to have a significant impact.
So far the currency’s fall to a 20-month low of 1.2568
against the euro will boost Swiss corporate earnings
by just a couple of percentage points on average, some analysts
ZURICH, Jan 15 (Reuters) – Swiss luxury chocolate maker
Lindt & Spruengli reported a pick up in sales growth on
Tuesday, as cash-strapped Europeans cheered themselves up with
treats like Lindor pralines and edible Christmas tree
Shares in the group, which traces its origins to a Zurich
confectionery shop in the 1840s, climbed to a 4-1/2 year high
after it said sales rose 7.3 percent last year to 2.67 billion
Swiss francs ($2.9 billion).
BASEL, Switzerland/LONDON (Reuters) – Global regulators gave banks four more years and greater flexibility on Sunday to build up cash buffers so they can use some of their reserves to help struggling economies grow.
The pull-back from a draconian earlier draft of new global bank liquidity rule went further than banks had expected by allowing them a broader range of eligible assets.
GENEVA (Reuters) – “Happy Taxation” is a 2011 book by Pascal Broulis, finance minister of the Swiss canton of Vaud and celebrant of the low taxes that distinguish Switzerland. But as times get tougher, discontent about Swiss tax breaks is mounting.
Cash-strapped foreign governments have already chipped away at the secrecy that allows rich individuals to store tax-free funds in Swiss bank accounts. Now Europe’s governments have turned the spotlight on the incentives Switzerland offers companies.
GENEVA, Dec 18 (Reuters) – “Happy Taxation” is a 2011 book
by Pascal Broulis, finance minister of the Swiss canton of Vaud
and celebrant of the low taxes that distinguish Switzerland. But
as times get tougher, discontent about Swiss tax breaks is
Cash-strapped foreign governments have already chipped away
at the secrecy that allows rich individuals to store tax-free
funds in Swiss bank accounts. Now Europe’s governments have
turned the spotlight on the incentives Switzerland offers
ZURICH, Dec 18 (Reuters) – Actelion, Europe’s
biggest biotech company, reported positive results from a
mid-stage clinical trial of a treatment for skin disease
psoriasis, adding to recent good news for its key
next-generation heart and lung drug.
The Swiss firm said on Tuesday its ponesimod drug achieved
its main goal in the trial, with 46 percent of patients
suffering from moderate to severe chronic plaque psoriasis
seeing a 75 percent improvement in an index for monitoring the
disease at 16 weeks when treated with a 20 milligramme dose.
ZURICH, Dec 14 (Reuters) – Swiss engineering group ABB
is dropping low-margin projects at its power systems
business in an attempt to make the division more profitable,
resulting in a fourth-quarter charge of $350 million.
Tough price competition in Asia and delays in connecting
offshore wind farms to power grids have hit margins at ABB and
German rival Siemens’ power businesses.