Katie's Feed
Apr 11, 2012

Givaudan Q1 sales up as raises prices

ZURICH, April 11 (Reuters) – Fragrance and flavour maker
Givaudan is managing to push through price increases
to offset higher raw material costs, the Swiss group said as it
posted a 4.7 percent rise in first-quarter sales, driven by
strong demand in China and India.

Sales at Givaudan, which makes flavours for foods and drinks
as well as perfumes for groups such as Dior and Calvin Klein,
rose to 1.06 billion Swiss francs ($1.15 billion), just topping
the average estimate of 1.05 billion francs in a Reuters poll.

Apr 1, 2012

Swiss spy charge signals German tax deal trouble

ZURICH, April 1 (Reuters) – A Swiss decision to pursue
German tax inspectors for industrial espionage is a sign of
growing tension that could make it hard for both sides to secure
parliamentary ratification of a deal preventing Germans dodging
tax on their Swiss deposits.

While Berlin is trying to tax an estimated 150 billion Swiss
francs ($166 billion) hidden by Germans in Swiss accounts, Berne
wants to avoid revealing the identities of wealthy customers who
are a mainstay of its offshore financial services industry.

Mar 31, 2012

Switzerland seeks arrest of German tax collectors

BERLIN/ZURICH (Reuters) – Switzerland has issued arrest warrants for three German civil servants, accusing them of industrial espionage for buying the bank details of German tax evaders, the finance ministry of the German state of North Rhine-Westphalia (NRW) said on Saturday.

In the latest chapter of an ugly dispute over tax evasion that has strained ties between the two neighbors, a spokeswoman for the ministry confirmed a report about the arrest warrants due to appear in Sunday’s Bild am Sonntag newspaper.

Feb 24, 2012

Roche seen extending Illumina offer at same price

ZURICH, Feb 24 (Reuters) – Swiss drugmaker Roche
looks set to extend its $5.7 billion cash bid for U.S.
gene decoder Illumina when the offer expires at
midnight on Friday, sticking to its established, and so far
successful, M&A playbook.

Roche is bidding $44.50 a share for the San-Diego-based
group, an offer it views as “full and fair”, but one Illumina
has dismissed as too low.

Feb 22, 2012

Profits slump at Swiss dental firm Straumann

ZURICH, Feb 22 (Reuters) – Swiss dental implant maker
Straumann Holding AG reported a slump in net profits on
Wednesday, and cautioned that its profit margin would remain
flat in 2012, causing a 10 percent drop in its share price.

The industry has been hit hard during the economic downturn
as patients put off expensive treatments generally not
reimbursed by insurers, while Straumann has also had to contend
with the strength of the Swiss franc.

Feb 15, 2012

Clariant restores dividend as it eyes sales growth

ZURICH, Feb 15 (Reuters) – Swiss specialty chemicals
maker Clariant is to pay its first dividend in five
years in the expectation of further sales growth driven by the
U.S. market as the global economy returns to growth this year.

“We have seen a clear revival in the United States over the
past 3-4 months and we assume that the developments will be very
positive,” chief executive Hariolf Kottmann told Reuters on
Wednesday.

Feb 9, 2012

Nobel Biocare cautious on market after Q4 miss

ZURICH, Feb 9 (Reuters) – Swiss dental implant maker
Nobel Biocare said it expects sales to grow between
2-4 percent and profit to be flat in 2012 after reporting fourth
quarter net profit which missed expectations.

The group has been hit hard by the economic downturn as
patients put off non-urgent treatment which is not generally
reimbursed by insurers. It has suffered more than rivals as its
products are often pitched towards more pricey treatments.

Feb 8, 2012

Roche digs in for long fight for Illumina

ZURICH, Feb 8 (Reuters) – Swiss drugmaker Roche
is digging in for a long fight after gene sequencing
company Illumina rejected its $5.7 billion hostile
takeover bid as inadequate and said it would be more successful
on its own.

Roche, which offered to pay $44.50 per share when it
launched the bid for Illumina last month, reiterated on
Wednesday that it believed its offer was “full and fair” and
that it was ready to start discussions with Illumina.

Feb 8, 2012

Syngenta eyes more earnings growth in 2012

ZURICH, Feb 8 (Reuters) – Syngenta AG, the
world’s largest agrochemicals company expects to deliver higher
profits this year as price hikes and cost cuts offset the impact
of the strong Swiss franc and raw material price inflation.

Syngenta, which makes genetically modified seeds and
products to kill weeds and bugs, posted a 14 percent rise in
full-year net profit to $1.599 billion, just beating the average
estimate of $1.566 billion in a Reuters poll.

Feb 7, 2012

Swatch captures the moment for Chinese watch demand

ZURICH (Reuters) – Strong demand for expensive watches in China helped Swatch Group (UHR.VX: Quote, Profile, Research, Stock Buzz) clock up an 18 percent rise in 2011 profits and build some sales momentum for the current year too.

The world watch industry number-one, which also announced a 15 percent increase in its dividend payout on Tuesday, said it had seen a double-digit percentage rise in watch and jewelry sales in January, although experts say the overall pace of industry growth is likely to slow to 5-10 percent this year as sluggish demand in mature markets takes its toll.