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Europe Top News and Analysis Switzerland

  • *Unilever says $50/ shr bid too low. LONDON, Feb 17- Unilever rejected a surprise $143 billion takeover bid from U.S. food company Kraft Heinz Co on Friday, saying it saw no reason to discuss a deal which it said had no financial or strategic merit. A combination of the two multinationals would be the third-biggest takeover in history and the biggest ever acquisition...

  • MADRID— In a wide-ranging tax fraud case that captivated Spain, Princess Cristina was found not guilty Friday of being an accessory to fraud but her husband was convicted and sentenced to more than six years in prison. A panel of judges ruled that Cristina, the 51- year-old sister of King Felipe VI, will be required to pay nearly 265,000 euros in fines because the...

  • *U.S. set for faster hikes with Trump in White House. FRANKFURT/ PARIS, Feb 17- Rock-bottom interest rates hurt more big European banks in 2016 than in the previous year, but the worst could soon be over with the prospect of rising borrowing costs rippling from the United State to Europe. But the policy has been politically divisive, prompting fierce criticism from...

  • SARASOTA, United States- Federal Reserve Bank of Chicago Executive Vice President and Director of Research Daniel Sullivan will speak on the economic outlook before a Central Banking Series event hosted by the Global Interdependence Center in Sarasota. GOLDEN VALLEY, United States- Federal Reserve Bank of Minneapolis President Neel Kashkari...

  • SARASOTA, United States- Federal Reserve Bank of Chicago Executive Vice President and Director of Research Daniel Sullivan will speak on the economic outlook before a Central Banking Series event hosted by the Global Interdependence Center in Sarasota. GOLDEN VALLEY, United States- Federal Reserve Bank of Minneapolis President Neel Kashkari...

  • WASHINGTON— Donald Trump is moving quickly to dismantle seven decades of American policy built on trade deals and multinational alliances that help fuel the U.S. and global economies. Without knowing whether trade will be disrupted, business people in the United States and abroad could be forced to rethink their plans. The president's hostility toward...

  • Kottmann told reporters on Thursday he was not considering a transformative deal involving the unit, concentrating instead on smaller bolt-on acquisitions similar to oil industry deals the company made in Texas last year for a combined 366 million Swiss francs. With the chemicals sector being transformed by megadeals including Monsanto's $66 billion...

  • VEVEY, Switzerland, Feb 16- Nestle's new chief executive scrapped the food company's long-standing sales target as it reported disappointing annual results on Thursday, echoing rivals by striking a cautious tone in an uncertain environment. CEO Mark Schneider, who joined Nestle only last month, forecast a return to "mid-single-digit" growth by 2020, which...

  • *J&J's $280 per share tender offer to start March 3. ZURICH, Feb 16- Swiss biotech company Actelion, days before agreeing to a $30 billion bid by Johnson& Johnson, found a rival offer to be as attractive but went with J&J because its offer provided more certainty, a filing showed on Thursday. J&J's prospectus for its tender offer revealed the rival bidder, identified...

  • We will do deals when the time is right: Nestle CEO

    Nestle CEO Mark Schneider discusses his company's fourth-quarter earnings data, touching on disappointing volume growth and the need for stronger pricing.

  • VEVEY, Switzerland, Feb 16- Nestle's new chief executive scrapped the food company's long-standing sales target as it reported disappointing annual results on Thursday, adopting a more cautious tone in an uncertain environment. Unilever cited problems in Brazil and demonetization in India, while Danone pointed the finger at tough conditions in China.

  • GENEVA— Pressure on food prices globally weighed on the earnings of consumer goods giant Nestle, which on Thursday said it would step up its drive to cut costs. The company based in Vevey, Switzerland, reported a 6 percent drop in net profit to 8.53 billion Swiss francs, with double-digit declines at its Chinese unit dragging on growth. CEO Mark Schneider said the...

  • OSLO- Norges Bank Governor Oystein Olsen will deliver an annual speech in Oslo- 1800 GMT. MAASTRICHT, Netherlands- ECB Board Member Benoit Coeure is scheduled to give keynote speech followed by panel discussion at an event on "25 years after Maastricht: The future of money and finance in Europe" jointly organized by the University of Maastricht, University of...

  • OSLO- Norges Bank Governor Oystein Olsen will deliver an annual speech in Oslo- 1800 GMT. MAASTRICHT, Netherlands- ECB Board Member Benoit Coeure is scheduled to give keynote speech followed by panel discussion at an event on "25 years after Maastricht: The future of money and finance in Europe" jointly organized by the University of Maastricht, University of...

  • KIEV, Feb 15- Ukraine on Wednesday accused Russian hackers of targeting its power grid, financial system and other infrastructure with a new type of virus that attacks industrial processes, the latest in a series of cyber offensives against the country. Oleksandr Tkachuk, Ukraine's security service chief of staff, said at a press conference that the attacks...

  • FRANKFURT, Feb 14- Banking software provider Temenos posted better-than-expected quarterly results on Tuesday, topping a narrow range of analysts' forecasts while sticking with its base-line outlook calling for 10 to 15 percent growth over the next several years. The Swiss software maker reported revenue for the fourth quarter of $191.1 million, up 13...

  • *China, EU to pull closer if U.S. turns inward, protectionist. BRUSSELS, Feb 15- The European Union is preparing an early summit with China in April or May in Brussels to promote free trade and international cooperation in the face of a more protectionist and inward-looking Washington, three EU officials said. "With an early summit, China wants to send a message to the...

  • LONDON, Feb 15- Treatment with two important cancer drugs is about to get much cheaper in Europe with a cut-price copy of Roche's blood cancer drug Rituxan likely to hit the market imminently followed by a rival to its breast cancer medicine Herceptin. Approval from the pan-European regulator, the European Medicines Agency, is pending and preparations are...

  • NEW YORK- Federal Reserve Bank of New York President William Dudley participates in a fireside chat before the Cornell College of Business Annual New York City Predictions Event organized by the Cornell College of Business and the Johnson Club of New York City- 0015 GMT. WASHINGTON- Federal Reserve Chair Janet Yellen delivers semiannual monetary testimony...

  • NEW YORK- Federal Reserve Bank of New York President William Dudley participates in a fireside chat before the Cornell College of Business Annual New York City Predictions Event organized by the Cornell College of Business and the Johnson Club of New York City- 0015 GMT. WASHINGTON- Federal Reserve Chair Janet Yellen delivers semiannual monetary testimony...