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Swiss Re is set to buy nearly 4 billion pounds ($7.90 billion) worth of U.K. life insurance liabilities from Swiss insurer Zurich Financial, the Wall Street Journal said on Friday. Both Zurich Financial and Swiss Re declined to comment on the story, which said terms of the deal were not known.
Switzerland's first quarter gross domestic product grew a real (or inflation-adjusted) 0.8% from the fourth quarter of last year and increased a 2.4% year-on-year, the Swiss state secretariat for economic affairs (SECO) said.
UBS said Friday it plans to sell its 20.7% stake in private bank Julius Baer Holding to raise capital for its share repurchase program.
Swatch Group, the world's biggest watchmaker, is betting on a luxury goods boom in the United States and a recovering Japan as its sales continue to show double-digit growth, its chief executive said on Wednesday.
Swisscom reported a below consensus first-quarter EBIT of 619 million sfr, down from 686 million sfr the year before, hit by lower margins and higher costs, due to the market launch of its Bluewin TV offering and other new businesses.
The Swiss unemployment rate fell to 2.9% in April, from 3.0% in March, Switzerland's State Secretariat for Economic Affairs (Seco) said.
Converium Holdings has issued an appeal to Scor shareholders urging them to vote against the French insurer's capital increase at its AGM on Apr 26, thereby blocking the takeover bid for Converium.
Fast-selling cancer drugs boosted first-quarter sales at Roche Holding by 16% to 11.4 billion Swiss francs ($9.41 billion), the Swiss drugmaker said, raising its outlook for the full year.
Swiss reinsurer Converium Holding on Friday urged shareholders to reject a $800 million hostile takeover from French rival SCOR.
Anglo-Swiss miner Xstrata said on Wednesday it was selling its aluminum business to private equity firm Apollo Management for $1.15 billion cash.
Here are some of Tuesday’s big movers on European stock markets
Italy's second-largest telecom company Fastweb said Monday its board considers a 47 euros ($62.35) per share offer by Switzerland's largest telephone company Swisscom as fair and considers it a good development opportunity.
The Swiss National Bank raised interest rates by 25 basis points on Thursday and said more tightening was probably needed to secure price stability in the long term as the weak franc could push up inflation.
Here some of Tuesday's big movers on European stock markets: Cadbury Schweppes, Altana, Altadis, Alliance Boots, SABMiller, Lagardere and Swisscom.
Here some of Monday's big movers on European stock markets: Akzo Nobel, Alliance Boots, ICI,Swisscom and DSG International.
Swisscom, the former state telecommunications monopoly, said Monday it offered to buy Fastweb, Italy's second-largest fixed-line phone company, for 3.7 billion euros ($4.9 billion) to expand into the Mediterranean nation.
Swiss reinsurer Converium is looking for rival bidders to fend off Scor's hostile takeover attempt but has not yet received any firm offers, the company said on Friday.
Swiss luxury goods group Richemont said it would set up a joint venture with Polo Ralph Lauren to distribute watches and jewellery through shops of the U.S. company.
Swiss reinsurer Converium Holding sought shareholder support Wednesday to fend off a takeover bid by French competitor Scor, promising higher future profits and a share buyback should the company remain independent.