Swiss bank UBS' wealth management business attracted strong inflows, but said it saw "abnormally low" transaction volumes in the first quarter. » Read More
Swiss bank UBS came under renewed pressure on Thursday due to speculation it had sold a huge portfolio of risky mortgages at a deep discount and that the scale of its subprime losses was rapidly mounting.
Recruitment firm Adecco's fourth-quarter net profit fell 29 percent but the decline was less than analysts' expectations, and the Swiss-based staffing company said it sees good growth rates in Europe.
Miner Xstrata posted a 13 percent rise in annual net profit on Monday on strong output, but gave little detail about ongoing talks regarding a possible takeover by Brazil's Vale.
Swiss Re, the world's biggest reinsurer, made better than expected 2007 net profit, as it escaped further subprime writedowns in the fourth quarter, and gave a confident earnings outlook.
A dispute over marketing rights held by mining group Xstrata's biggest shareholder is threatening a possible takeover by Brazil's Vale worth around $90 billion, a source close to the situation said on Thursday.
Analysts raised forecasts for Roche Holding on Monday after U.S. regulators approved its Avastin drug for treating advanced breast cancer, adding a potentially significant new revenue source.
Nestle, the world's largest food company, brushed off fears of commodity price inflation and global slowdown to post an above forecast 15.8 percent rise in 2007 net profits sending its shares higher.
Brazilian miner Vale has raised its bid for rival Xstrata by 17 percent to more than $89 billion, and a formal offer is expected in the coming days, a source with direct knowledge of the merger talks said Thursday.
Credit Suisse has written $2.85 billion off the value of its asset-backed investments and found mismarking and pricing errors on its books, it revealed on Tuesday, sending its shares plummeting by 6.6 percent.
Swiss engineering group ABB gave an upbeat outlook for 2008 on Thursday and said it would benefit from development of new power infrastructure in Asia, the Middle East and Africa, boosting its shares.
Net profit at Zurich Financial rose by a fifth in 2007, outstripping expectations, on the back of cost cuts and the Swiss insurer said on Thursday it would continue to scoop up rivals.
Swiss bank UBS has revealed $26.6 billion in exposure to risky U.S. mortgages distinct from subprime loans, increasing its vulnerability to the global credit crisis and sending its shares sharply lower.
Credit Suisse trimmed total writedowns from the subprime crisis Tuesday and its CEO Brady Dougan told CNBC he saw many growth opportunities for the bank.
This may be the time to be brave and buy stocks in banks, as the steep fall in share prices in the past six months has created opportunities to scoop up cheap stocks, analysts said on Monday.
Swiss private bank Julius Baer beat expectations with a 31 percent rise in its 2007 net profit, saying its lack of exposure to the credit crisis was drawing in clients.
Full-year net profit at the world's biggest agrochemicals company, Syngenta, rose 75 percent to $1.11 billion, beating forecasts, as crop prices rose sharply amid raging demand for food and biofuel.
The main flu virus circulating in the United States and Canada has shown "elevated resistance" to the antiviral drug Tamiflu, in line with findings in parts of Europe, the World Health Organisation (WHO) said on Friday.
Switzerland's banking watchdog warned that the country's two largest banks UBS and Credit Suisse could face write-downs in assets beyond subprime, sending their shares spiraling lower.
European pharmaceutical Roche reported a better-than-expected 25 percent increase in fourth-quarter net profit Wednesday on strong sales of its cancer drugs, despite lower sales of its key influenza drug Tamiflu.
The collaboration theme here never really hung together for me. You can see the logic in people working together to solve the world’s problems, which is what WEF wants to do. But in the context of the market turmoil it seems like most people (well, banks anyway) just want to batten down the hatches and get through it.