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Switzerland

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  • Roche Wins Ventana with Raised $3.4 Billion Bid Tuesday, 22 Jan 2008 | 3:31 AM ET

    Roche Holding has overcome Ventana's resistance to its takeover bid by raising its price, acquiring the diagnostics maker for $3.4 billion to boost its cancer testing business.

  • UBS to Revamp Investment Bank, Start Workout Fund Friday, 18 Jan 2008 | 6:43 AM ET

    UBS, the biggest European casualty of the U.S. subprime crisis, said it was shrinking its investment banking business, cutting staff and drastically downscaling its exposure to risky investments.

  • Novartis Boosts Shareholder Return as Profit Sinks Thursday, 17 Jan 2008 | 12:11 PM ET
    novartis_building.jpg

    Swiss drug maker Novartis said Thursday its fourth-quarter profit fell sharply, mainly due to restructuring costs, but that it would increase returns to shareholders with a new buyback program and an increase to its dividend.

  • Sulzer Predicts Slower Growth in 2008 Tuesday, 15 Jan 2008 | 3:56 AM ET

    Swiss engineering group Sulzer posted a 24 percent rise in full-year order intake on Tuesday, boosted by demand in the oil and gas sector, but said the growth rate was likely to slow in 2008.

  • UBS, struck with billions of dollars of writedowns on subprime exposures, is trying to persuade investment bankers to stay with the company by allowing them to sell some of their share-based bonuses after just one year, the Financial Times reported.

  • Logitech Shares Surge on Talk of Microsoft Bid Thursday, 10 Jan 2008 | 8:32 AM ET

    Shares in Swiss-based computer peripherals maker Logitech International gained up to 12 percent on Thursday amid speculation Microsoft would launch a takeover bid, traders said.

  • Credit Suisse Stock Drops on Report of Writedowns Monday, 7 Jan 2008 | 5:16 AM ET

    Shares in Swiss bank Credit Suisse  fell by around 3 percent on Monday after a Swiss newspaper reported the bank faced writedowns in its commercial mortgage and leveraged-finance business.

  • Swiss Re Loyal to Troubled Unit, Sees Fast Buyback Tuesday, 11 Dec 2007 | 3:57 AM ET

    Reinsurer Swiss Re said it is committed to the Financial Services unit that was the source of last month's large subprime writedown and said it was likely to speed up its share buyback program.

  • Novartis Plans Restructuring, Job Cuts: WSJE Tuesday, 11 Dec 2007 | 3:50 AM ET

    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.

  • Nestle to Sell Jamba Juice in Grocery Stores Tuesday, 4 Dec 2007 | 10:49 AM ET

    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.

  • Swiss Life Shrugs off Credit Crisis, Boosts Targets Tuesday, 4 Dec 2007 | 4:13 AM ET

    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 to Buy German AWD in $1.7 Billion Deal Monday, 3 Dec 2007 | 4:39 AM ET

    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).

  • UBS Shares Wobble on Subprime Concerns Tuesday, 20 Nov 2007 | 7:28 AM ET

    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 Says Avastin Study Misses Endpoint Tuesday, 13 Nov 2007 | 5:54 AM ET

    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.

  • Swiss Re Profit Falls Less than Expected Tuesday, 6 Nov 2007 | 7:00 AM ET

    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 Diabetes Drug Faces Further Delays Tuesday, 6 Nov 2007 | 3:44 AM ET
    Novartis

    Novartis has found safety problems in higher doses of its key Galvus diabetes drug and will revise prescribing recommendations before launching in Europe.

  • Nestle Sees 2007 Sales Well Above $86.58 Billion Monday, 5 Nov 2007 | 5:27 AM ET

    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 Profit Tumbles on Writedowns Thursday, 1 Nov 2007 | 11:31 AM ET

    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.