Brian Caplen, editor of The Banker, says there is a strong mood for change to executive pay despite the Swiss 1:12 referendum being rejected.» Read More
Nestle, the world's largest food company, named insider Paul Bulcke as its new chief executive, replacing Peter Brabeck, who will drop his executive functions in 2008 to serve as group chairman.
Zurich Financial Services has enjoyed a positive performance in its bond portfolio in the past two months with no surprises from its subprime exposure, Chief Executive James Schiro said on Friday.
Swiss insurer Baloise said on Thursday its first-half net profit rose 13%, beating expectations despite claims from winter storm Kyrill, and the company promised a record full-year net profit.
ABB on Wednesday raised its average annual sales growth rate target for the 2007-2011 period to between 8% and 11% -- around double the previous target -- and said it was eyeingacquisitions.
Swiss Life's first-half net profit rose 21%, comfortably beating expectations, and the insurer said on Tuesday it would set new financial goals in December.
French retailer Carrefour said on Tuesday it was withdrawing from the Swiss market with the sale of its 50% stake in Swiss hypermarket operator Distributis.
Holcim said Wednesday it has completed the compulsory acquisition of minority shares in Canada's St. Lawrence Cement.
Rieter Holding said its first-half net profit rose 42% to 116.7 million Swiss francs, beating analyst forecasts, with the company citing a favorable investment climate in the Asian textile industry and market share gains in the automobile industry in Western Europe and North America.
Swiss bank UBS, the world's largest wealth manager, beat forecasts with record second-quarter profits but warned that market turmoil was likely to hit its investment banking business in the second half of the year.
Swatch Group reported a much improved first-half net profit, driven by continued strong consumer spending and positive currency effects.
Credit Suisse unveiled a surprise 48% jump in second-quarter net profit, saying it was confident it could deliver good results despite credit-market turmoil, boosting its shares.
International engineering group ABB said on Thursday it may have violated the U.S. Foreign Corrupt Practices Act bribery law after discovering suspect payments made by some employees abroad and had notified the U.S. authorities.
Nestle, the world's largest food company, held merger talks with U.S. snacks and drinks conglomerate PepsiCo earlier this year, but the project ran aground due to a number of complications, the Wall Street Journal Europe reported on Thursday.
Novartis cut its full-year results outlook as generic competition pressured sales of a key blood-pressure drug, and said U.S. regulators had delayed the approval process for an important cancer treatment.
Nestle, the world's largest food company, will raise prices, cull unprofitable products and speed up production rationalization to prepare for a lasting rise in commodity and energy prices.
UBS is preparing a new growth initiative in the United States that may include acquisitions as it seeks to bolster its investment banking and wealth management business, the Swiss group's chairman said on Sunday.
Food prices around the world are set for a "significant and long-lasting" period of inflation because of a variety of factors, including demand from China and India, Nestle's chairman Peter Brabeck said in an interview with the Financial Times today.
The state of Massachusetts accused UBS of providing hedge fund traders with favors intended to win brokerage business for the investment bank, according to a report.
Shares of Ventana Medical Systems soared on Tuesday, on news that Roche Holding made a $3 billion tender offer for the company.
Shares of Julius Baer Holding fell Friday after UBS said late Thursday that it would sell its 20.7% stake in the Swiss private bank.