ZURICH, Oct 31 (Reuters) – Swiss specialty chemicals maker
Clariant said it expected a further slowdown in
economic activity as customers in its plastic and coatings
businesses run down stocks, after the strong Swiss franc weighed
on third-quarter profit.
Clariant, whose products put colour into plastics, said on
Monday that sales in the third quarter rose 25 percent in local
currencies to 1.865 billion Swiss francs, slightly better than
the average forecast in a Reuters poll.
ZURICH, Oct 27 (Reuters) – Swiss engineer ABB said
a murky economic outlook made near-term forecasting challenging
as it unveiled weaker-than expected third-quarter results, due
to a slowdown in its early-cycle business.
Still, ABB is upbeat about long-term prospects as a global
push to use energy more efficiently is set to drive demand for
ZURICH (Reuters) – The Swiss National Bank’s (SNB) franc cap has restored stability but the currency’s level is still a problem for exporters and the central bank should try and weaken it further, the head of a leading business group said on Wednesday.
Along with three trade union heads, Swissmem President Hans Hess told SNB governing board alternate member Thomas Moser in a meeting last week that the franc remained some 10 percent overvalued and could further threaten jobs and competitiveness.
ZURICH (Reuters) – The right-wing Swiss People’s Party lost support in a parliamentary election Sunday, paving the way for inter-party haggling as each group seeks to grab the greatest representation in the power-sharing government.
The SVP lost some 3.6 percentage points from the last election, but was still on track to be the biggest party with 25.3 percent of the vote, according to a projection by Swiss television.
ZURICH (Reuters) – A right-wing Swiss party that wants to limit the number of immigrants is hoping to win a historic 30 percent share of the votes in an election on Sunday, which could bolster its case for greater representation in the government.
Latest polls show the Swiss People’s Party (SVP) is on track to scoop 29.3 percent of the vote in the parliamentary election after plastering towns and cities with posters calling for mass immigration to be stamped out.
ZURICH (Reuters) – Over the past half-century the Nahmad family’s primary relationship with art was how much money they could make by dealing in the works of Picasso, Monet and Dali.
Now a new exhibition, “Miro, Monet, Matisse – The Nahmad Collection” reveals for the first time the world-class works they stashed away, almost forgotten in a warehouse.
ZURICH (Reuters) – The debt crisis shows that Switzerland was right to stay out of the European Union, but it is not immune to the problems in the single-currency bloc, Switzerland’s former justice minister and mastermind of the populist Swiss People’s Party (SVP) said.
Polls show the right-wing SVP, which has campaigned provocatively against immigration describing foreigners as “black sheep,” is on course to remain Switzerland’s largest party in an election on October 23.
ZURICH, Oct 11 (Reuters) – Swiss fragrance and flavour maker
Givaudan stuck to its mid-term goals despite
nine-month sales missing forecasts, saying its ability to push
through price hikes should help offset higher raw material
The Geneva-based company, which makes fragrances for Dior
and Prada perfumes, said it expected to fully cancel out higher
input costs for ingredients such as citrus and orange oil and
crude oil-related products by next year.
ZURICH (Reuters) – Swiss bank UBS AG (UBSN.VX: Quote, Profile, Research, Stock Buzz) (UBS.N: Quote, Profile, Research, Stock Buzz) said it expects to report a modest third-quarter net profit, easing concerns about the impact of the $2.3 billion rogue trading loss uncovered last month as the bank chalks up gains on credit derivatives.
The bank also expects net new money in its core wealth management business to be broadly similar to the second quarter, when it reported client inflows of 5.6 billion Swiss francs ($6.1 billion), it said on Tuesday.
ZURICH, Oct 4 (Reuters) – Swiss bank UBS AG
said it expects to report a modest third-quarter net
profit, easing concerns about the short-term impact of the $2.3
billion alleged rogue trading loss revealed last month as the
bank chalks up gains on credit derivatives.
The bank also expects net new money in its core wealth
management business to be broadly similar to the second quarter,
when it reported client inflows of 5.6 billion Swiss francs
($6.1 billion), it said on Tuesday.