Caroline's Feed
Nov 6, 2012

Adecco sales decline worsens in third-quarter

ZURICH, Nov 6 (Reuters) – Adecco, the world’s
largest temporary staffing firm, said revenues fell further in
Europe in the third quarter, dragged down by the region’s
crippling debt crisis.

Temporary employment is considered a bellwether of broader
labour activity because employers add or cut temps before hiring
and firing permanent staff.

Nov 1, 2012

Swiss manufacturing shrinks for 7th month in Oct -PMI

ZURICH, Nov 1 (Reuters) – Swiss manufacturing shrank for a
seventh month in a row in October as demand continued to be hit
by the euro zone crisis, although there were signs the outlook
is improving, PMI data showed on Thursday.

The Swiss purchasing managers’ index rose to a seasonally
adjusted 46.1 points in October from 43.6 points in September.
Although the print beat analysts’ forecasts for 44.5 points, it
remained below the 50 mark, which separates growth from
contraction, for the seventh month in a row.

Oct 31, 2012

Switzerland’s Lonza axes 500 jobs to cut costs

ZURICH (Reuters) – Swiss drugs industry supplier Lonza plans to cut 500 jobs, including 400 at its main plant in southern Switzerland, as it grapples with low-cost competition, a strong Swiss franc and higher raw material prices.

The cuts at the Basel-based firm, which makes pharmaceutical ingredients for drugmakers such as GlaxoSmithKline and Abbott, equate to around 5 percent of its global workforce of about 11,000.

Oct 30, 2012

Straumann to cut jobs as Europe sales slow

ZURICH (Reuters) – Swiss dental implant maker Straumann (STMN.S: Quote, Profile, Research, Stock Buzz) said it would axe roughly 150 jobs to boost margins as it grapples with sluggish demand in Europe, its biggest market.

The euro zone debt crisis has battered sales of dental implants made by Straumann and its Swiss rival Nobel Biocare (NOBN.S: Quote, Profile, Research, Stock Buzz) as cash-strapped Europeans, worried about the downturn, cut back on non-essential dental treatment.

Oct 25, 2012

Excedrin factory a recurring migraine for Novartis CEO

ZURICH, Oct 25 (Reuters) – Delays to restarting production
at the U.S. factory that makes Novartis AG’s popular
migraine medicine Excedrin are turning into a major headache for
the Swiss drugmaker’s boss.

Joseph Jimenez is so fed up with having to push back the
timeline to restart manufacturing at its consumer health site in
Lincoln, Nebraska that he’s given up making forecasts.

Oct 25, 2012

Novartis defends flu vaccines after Italian ban

ZURICH, Oct 25 (Reuters) – Swiss drugmaker Novartis
said flu vaccines that Italy has banned from sale are
safe and it does not expect other countries to take similar

Italy banned four anti-influenza vaccines produced by
Novartis on Wednesday pending tests for possible side effects
after small particles were found in some of the injections.

Oct 24, 2012

Swiss companies brace for “fat cat” pay vote

ZURICH, Oct 24 (Reuters) – Swiss business is rallying to
arms to defend top managers’ pay as the government set a date on
Wednesday for a referendum that may impose the world’s first law
forcing companies to accept any limits shareholders place on
executive rewards.

Coming after the near wreck of banking giant UBS was blamed
on a lavish bonus culture that drove its managers to take too
many risks, the initiative’s opponents say that, far from
rescuing Switzerland’s reputation for financial success, it will
drive away investment and cause an exodus of talent.

Oct 24, 2012

Actelion’s future is brighter on strong lung drug trial

ZURICH, Oct 24 (Reuters) – A new lung and heart drug from
Actelion prolonged overall survival by more than a
third in a clinical trial, reassuring Europe’s leading biotech
company that it has a viable successor to its current top

The Swiss company is banking on macitentan to replace
Tracleer, which also treats pulmonary arterial hypertension
(PAH) and currently accounts for around 90 percent of group
sales. Tracleer goes off patent from 2015 and faces growing
competition from Gilead’s Letairis.

Oct 24, 2012

Detailed data supports Actelion’s big lung drug hope

ZURICH, Oct 24 (Reuters) – Actelion’s experimental
lung drug macitentan prolonged overall survival by more than a
third according to detailed study data, which the company hopes
will convince investors it has a viable follow-up product to
secure its commercial future.

Europe’s largest standalone biotech company wants the drug,
which treats pulmonary arterial hypertension — a disease that
causes high blood pressure in the arteries of the lungs — to
replace blockbuster Tracleer.

Oct 19, 2012

Swiss to vote on scrapping “popstar paradise” tax system

ZURICH (Reuters) – A tax system that has attracted wealthy foreigners like Phil Collins and Michael Schumacher to live in Switzerland will be put to a vote to see if the people want to scrap it.

An alliance of left-wing parties and trade unions said on Friday they had collected the 100,000 signatures needed to put their proposal, “Enough with tax privileges for millionaires”, to a referendum.