ZURICH (Reuters) – Switzerland will vote on Sunday on whether to limit the salaries of top executives so they don’t earn more in a month than the lowest paid workers earn in a year, a move that could mean big pay cuts for business leaders earning millions.
The so-called 1:12 initiative for Fair Pay, the latest attempt to narrow a growing wage gap in one of the world’s wealthiest nations, was brought about by the youth wing of the Social Democrats (JUSO), who gathered the 100,000 signatures needed to force a nationwide vote.
ZURICH, Nov 7 (Reuters) – Swisscom AG named Urs
Schaeppi as chief executive on Thursday, resolving leadership
uncertainty following the suicide of Carsten Schloter earlier
Schaeppi, a former head of Swisscom’s Swiss business and its
corporate arm, has been acting CEO since Schloter was found dead
at home in July.
ZURICH (Reuters) – Adecco (ADEN.VX: Quote, Profile, Research, Stock Buzz), the world’s No. 1 staffing agency, posted a 61 percent jump in net profit in the third quarter and flagged rising demand for temporary workers as companies look for flexibility to weather a volatile European economic recovery.
The staffing sector is generally seen as a barometer of economic health because companies tend to hire temporary workers at the beginning of a recovery when most businesses are reluctant to commit to full-time hiring.
ZURICH, Nov 3 (Reuters) – Swisscom is building a
“Swiss Cloud” that could loosen the grip of U.S. technology
giants and attract foreign companies looking for a way to shield
sensitive data from the prying eyes of foreign intelligence
Companies are increasingly turning to cloud computing – an
umbrella term for technology services such as email and business
software offered remotely via the Internet instead of on-site -
to cut costs and add flexibility to their IT departments.
ZURICH, Oct 31 (Reuters) – Swiss dental implant maker
Straumann raised its full-year sales forecast on
Thursday, as it expects a better performance in North America
and Japan to offset weak sales in Europe.
The world’s largest maker of dental implants now forecasts
full-year organic revenue, which strips out the impact of
currency and acquisitions, to be at least in line with 2012.
It had previously guided for a shortfall in full-year revenues.
ZURICH, Oct 24 (Reuters) – Swiss industrial group ABB
beat expectations for third-quarter profit and said it
would seek closer co-operation between its businesses and push
ahead with cost cuts to boost growth.
Presenting his first results since taking over as chief
executive in mid-September, Ulrich Spiesshofer said better
collaboration between ABB’s divisions should help improve
performance in uncertain markets.
ZURICH (Reuters) – Swiss drugmaker Novartis raised its full-year sales and profit forecasts for a second quarter in a row on Tuesday, as it benefited from delays to a cheap, copycat competitor to one of its best-selling drugs, blood pressure pill Diovan.
Novartis lost its patent rights on Diovan in the United States last year and already faces some generic competition. But it has been granted a partial reprieve as U.S. regulators have not yet approved a generic version of one of the main forms the treatment from India’s Ranbaxy Laboratories.
ZURICH (Reuters) – Strong demand for Roche’s specialty cancer medicines, many of which are bought privately in emerging markets, has helped it defy an expected slowdown in sales in China following a crackdown on sales practices there.
The Swiss group on Thursday posted an 8 percent rise in third-quarter sales in local currencies – or 2.7 percent in Swiss francs, after adverse foreign exchange moves – helped by strong uptake of two new breast cancer drugs.
ZURICH, Oct 14 (Reuters) – Swiss drugmaker Roche is
to invest 800 million Swiss francs ($880 million) in its global
manufacturing facilities over the next five years, creating 500
jobs, as it prepares for growing demand for its biologic
The world’s largest maker of cancer drugs said on Monday the
investment would increase its production capacity in Penzberg in
Germany, Basel in Switzerland and Vacaville and Oceanside in the
ZURICH (Reuters) – Switzerland’s financial markets regulator is working with authorities in other countries to investigate possible manipulation in the $5 trillion-a-day foreign exchange market potentially involving multiple banks.
Regulators and investors are concerned about the integrity of financial benchmarks in the wake of a global investigation into the rigging of benchmark interest rates that has so far led to four financial firms, including Switzerland’s largest bank UBS, being fined around $2.7 billion and seven men being charged.