Caroline's Feed
May 8, 2012

Staffing firm Adecco sees weak demand in Europe

ZURICH, May 8 (Reuters) – Adecco, the world’s
largest staffing company, pledged to keep a firm grip on costs
as it grapples with weak demand in parts of Europe.

The Swiss company on Tuesday beat first-quarter profit
forecasts as robust results in North America and Germany helped
offset weakness in its biggest market, France.

May 8, 2012

Staffing firm Adecco sees weak demand in Europe

ZURICH, May 8 (Reuters) – Adecco, the world’s
largest staffing company, pledged to keep a firm grip on costs
as it grapples with weak demand in parts of Europe.

The Swiss company on Tuesday beat first-quarter profit
forecasts as robust results in North America and Germany helped
offset weakness in its biggest market, France.

May 8, 2012

Actelion sees no earnings growth until 2014

ZURICH (Reuters) – Europe’s biggest biotech company Actelion said it would only return to earnings growth in 2014, later than analysts expect, as new medicines and cost cuts would take time to offset falling sales of a key heart and lung drug.

The Swiss group, which received a boost last week from positive trial results of a new generation heart and lung disease treatment, said on Tuesday it expected stable core earnings in 2013 in local currencies, followed by a return to growth in 2014 and double digit percentage growth in 2015.

May 3, 2012

World powers urge Iran to give more nuclear access

VIENNA/ST GALLEN, Switzerland (Reuters) – The five permanent members of the U.N. Security Council put pressure on Iran on Thursday to allay international concern about its nuclear program, and said they expected talks with Tehran to lead to concrete steps toward a negotiated solution.

Iran and major powers resumed talks in mid-April in Istanbul after more than a year – a chance to ease tension and help to avert the threat of a new Middle East war. They are to meet again on May 23 in Baghdad.

May 1, 2012

Xstrata woos waverers over Glencore deal

LONDON/ZUG, Switzerland (Reuters) – Miner Xstrata (XTA.L: Quote, Profile, Research, Stock Buzz) sought to win over waverers to the merits of its $39 billion takeover by commodities trader Glencore (GLEN.L: Quote, Profile, Research, Stock Buzz), telling shareholders to back the “fair and reasonable” offer even as investors flexed their muscles by expressing opposition to its pay plan.

The structure of the deal, which requires at least 75 percent of shareholders excluding Glencore to approve it, means opposition from investors representing just over 16.5 percent of Xstrata’s total shareholding would be enough to derail it.

Apr 25, 2012

ABB looks to North America as China falters

ZURICH (Reuters) – Swiss engineer ABB (ABBN.VX: Quote, Profile, Research, Stock Buzz) is banking on a recovery in North America to offset a weaker China and austerity-ravaged southern Europe after first-quarter orders beat expectations.

Strong demand for power equipment in North America helped to drive first-quarter orders of $10.4 billion, compared with a forecast for $10.1 billion in a Reuters poll.

Apr 25, 2012

ABB counts on North America to offset weaker China

ZURICH, April 25 (Reuters) – Swiss engineer ABB is
banking on a recovery in North America to offset a weaker China
and austerity-ravaged southern Europe after first-quarter orders
beat expectations.

ABB is hoping a global push to upgrade electrical grid
infrastructure and use energy more efficiently will drive
long-term demand for its products, which are used by oil, mining
and utility companies.

Apr 24, 2012

Novartis tries stop British use of rival eye drug

ZURICH/LONDON, April 24 (Reuters) – Swiss drugmaker Novartis
is challenging the use of a cheap alternative to its
eye drug Lucentis in Britain, sparking a row over cost versus
safety in treating a common cause of blindness.

Lucentis, with annualised sales for Novartis of $2 billion,
is licensed for wet age-related macular degeneration (AMD) and
recommended by Britain’s health cost watchdog, the National
Institute for Health and Clinical Excellence (NICE).

Apr 24, 2012

Novartis challenges UK Avastin use in eye disease

ZURICH/LONDON, April 24 (Reuters) – Swiss drugmaker Novartis
is challenging the use of a cheap alternative to its
eye drug Lucentis in parts of Britain, sparking a row over cost
versus safety in treating a common cause of blindness.

Lucentis, with annualised sales for Novartis of some $2
billion, is licensed for wet age-related macular degeneration
(AMD) and is also recommended by Britain’s health cost watchdog,
the National Institute for Health and Clinical Excellence.

Apr 24, 2012

U.S. factory stoppage hits Novartis first quarter earnings

ZURICH (Reuters) – Swiss drugmaker Novartis AG on Tuesday stuck to its outlook for lower profitability this year, as a stoppage at a U.S. manufacturing site and tough annual comparisons for its Sandoz division hit first-quarter core earnings.

Chief Executive Joseph Jimenez said he expected production at a consumer health manufacturing site in Lincoln, Nebraska – which has annualized sales of $1 billion – to restart in May, with shipments resuming mid-year.