ZURICH/PARIS (Reuters) – Nestle (NESN.VX: Quote, Profile, Research, Stock Buzz) was selling its 10 percent stake in Swiss fragrance and flavor maker Givaudan (GIVN.VX: Quote, Profile, Research, Stock Buzz) on Friday for as much as 1.08 billion Swiss francs ($1.20 billion), as it concentrates resources on its core food businesses.
The world’s biggest food group cut its sales outlook earlier this year and said it would dispose of underperforming businesses to slim down its sprawling portfolio which spans Perrier bottled water, KitKat chocolate and Gerber baby food.
ZURICH, Dec 6 (Reuters) – ZURICH/PARIS, Dec 6 (Reuters) -
Nestle is selling its 10 percent stake in Swiss
fragrance and flavour maker Givaudan in an effort to
narrow its focus on core operations and clean up its balance
Traders on Friday said the sale managed by Goldman Sachs
through an accelerated book building was being offered at a
price range of 1,150-1,170 Swiss francs a share, valuing the
entire stake at as much as 1.08 billion Swiss francs ($1.20
ZURICH, Nov 24 (Reuters) – Swiss voters rejected a proposal
on Sunday to cap the salaries of top executives at 12 times that
of a company’s lowest wage, heeding warnings from industry
leaders that the measure could harm the country’s economy.
The wealthy nation, which is home to some of the world’s
biggest companies including food group Nestle and
commodities giant Glencore Xstrata, voted 66 percent
against imposing the limit, according to a projection from Swiss
ZURICH, Nov 22 (Reuters) – Swiss drugmaker Novartis
offered a sweetener to investors on Friday by starting
a $5 billion share buyback programme, but shied away from
announcing any radical surgery to its structure.
The Basel-based pharmaceutical firm is carrying out a broad
review of operations following the departure of veteran chairman
and one-time CEO Daniel Vasella, and is considering options for
its non-core assets that lack the scale to become world leaders.
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.