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.
ZURICH (Reuters) – A major private collection of the graphic works of Edvard Munch, renowned for his haunting painting “The Scream”, goes on show for the first time on Friday at Zurich’s Kunsthaus museum, exploring his musings on the human condition.
“Edvard Munch. 150 Master Prints” displays works on loan from an anonymous private collector ranging from his first drypoint in 1894 to the Norwegian artist’s final lithograph just before his death in 1944.
ZURICH (Reuters) – If you are taking a short-haul flight from Switzerland, there’s a chance you might find yourself sitting next to the Chief Executive of Holcim (HOLN.VX: Quote, Profile, Research, Stock Buzz), the world’s largest cement maker – in economy class.
The unassuming Frenchman, who became the first outsider to lead the 101-year-old Swiss company last year, has implemented a strict cost-cutting regime that extends right up to himself.
ZURICH (Reuters) – Holcim, the world’s largest cement maker, is cautiously optimistic about the outlook for its biggest market, India, saying demand could pick up thanks to government spending on infrastructure ahead of an election.
About 17 percent of Holcim’s sales were in India last year, but a record current account deficit and a steep fiscal shortfall have curbed the amount India has spent on building.
ZURICH (Reuters) – Novartis may take a leaf out of its past deal-book as the Swiss drugmaker conducts a review into some of its underperforming businesses, a board member said.
New chairman Joerg Reinhardt has launched a review of the drugmaker’s portfolio fanning speculation that some of the company’s smaller units could be sold, spun-off or integrated into other divisions.
ZURICH, Sept 17 (Reuters) – Switzerland hasn’t fought a war
with an external enemy in 200 years, but its military may now
face the biggest battle of its existence – from within.
Many Swiss have questioned over the decades why Switzerland
needs a military, given the lack of direct threats and
long-standing position of neutrality. With 150,000 troops and
six percent of the budget, the armed forces are the size of
those of Austria, Belgium, Norway, Finland and Sweden -