Switzerland's central bank intervenes in the currency market in order to stabilize the Franc amid the latest Greek crisis concerns.» Read More
Novartis plans a restructuring that will result in job cuts and the removal of several layers of management, according to an interview with CEO Daniel Vasella in the Wall Street Journal Europe.
UBS revealed a $10 billion writedown and an emergency injection of funds from Singapore and the Middle East, making it the biggest victim of the U.S. subprime crisis to date among major European banks.
Sometimes weekend newspaper pickups go nowhere and sometimes you hit pay dirt. This morning, putting together "Squawk Box Europe", the team debated the merits of a story carried by the Swiss weekly the Sonntagszeitung. It said UBS management held an unscheduled board meeting at the weekend and could announce more sizeable writedowns.
Jamba said it is partnering with Nestle USA to sell bottled smoothies and juice drinks at U.S. grocery stores, sending the company's shares up 28 percent.
Insurer Swiss Life raised its targets on Tuesday, aiming to boost earnings per share by at least 12 percent annually, and said the credit crisis will not hit its results, lifting its shares.
Swiss Life advanced a sweeping restructuring on Monday, unveiling plans to buy German investment adviser AWD in an agreed deal valuing AWD at 1.16 billion euros ($1.71 billion).
Shares in Swiss-based bank UBS tumbled temporarily on Tuesday on renewed fears the group may have to make more hefty writedowns for exposure to assets hit by the subprime crisis.
Roche on Tuesday said a late-stage study of its cancer drug Avastin in combination with gemcitabine chemotherapy and Tarceva for pancreatic cancer did not meet the primary endpoint for survival.
Net profit at Swiss Re dropped by less than expected in the third quarter, as the world's largest reinsurer benefited from low claims and said damage from a global credit crisis was limited.
Novartis has found safety problems in higher doses of its key Galvus diabetes drug and will revise prescribing recommendations before launching in Europe.
Nestle expects full-year sales to be well above 100 billion Swiss francs ($86.58 billion) this year, the head of the world's largest food group was quoted as saying over the weekend.
Credit Suisse reported a 31 percent fall in group net profits to 1.302 billion Swiss francs ($1.12 billion), with profit at its investment banking unit all but wiped out by mortgage-linked writedowns.
UBS reported a bigger-than-expected third-quarter pretax loss of 726 million Swiss francs ($624.8 million) on Tuesday, but said it expected to turn in a group profit in the last quarter.
Nestle said on Thursday a sale of its stake in French cosmetics group L'Oreal was one option to be considered after a lock-up agreement with the controlling family expires in 2009.
Swiss drugmaker Novartis's third-quarter net profit missed forecasts, dropping by 12 percent to $1.57 billion, weighed down by the launch of rival generic versions of its drugs and a one-off charge.
Shares in Roche Holding slump on Tuesday after Swiss pharmaceutical company reported sales that came in below analysts' forecasts.
Swiss engineering group Sulzer posted a 27.5 percent rise in nine-month orders on Tuesday and was upbeat about its outlook as the group benefits from demand in the oil and gas sector and growthin Asia.
The global credit crisis is far from over and may come in waves, a source close to the Basel Committee on Banking Supervision said on Friday.
Swiss consumer price inflation picked up in September, driven by higher oil prices, but the price rise was smaller than expected.
UBS, the world's largest wealth manager, unveiled $3.4 billion in losses, swept out senior managers and slashed jobs in one of the biggest casualties yet from the worldwide credit crunch.