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  • 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 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.

  • 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

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

  • 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 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.

  • UBS

    UBS reported a bigger-than-expected third-quarter pretax loss of 726 million Swiss francs ($624.8 million) on Tuesday, but said it expected to turn in a group profit in the last quarter.

  • Nestle said on Thursday a sale of its stake in French cosmetics group L'Oreal was one option to be considered after a lock-up agreement with the controlling family expires in 2009.

  • Swiss drugmaker Novartis's third-quarter net profit missed forecasts, dropping by 12 percent to $1.57 billion, weighed down by the launch of rival generic versions of its drugs and a one-off charge.

  • Shares in Roche Holding slump on Tuesday after Swiss pharmaceutical company reported sales that came in below analysts' forecasts.

  • Swiss engineering group Sulzer posted a 27.5 percent rise in nine-month orders on Tuesday and was upbeat about its outlook as the group benefits from demand in the oil and gas sector and growthin Asia.

  • The global credit crisis is far from over and may come in waves, a source close to the Basel Committee on Banking Supervision said on Friday.

  • Swiss consumer price inflation picked up in September, driven by higher oil prices, but the price rise was smaller than expected.

  • UBS headquarters in Zurich, Switzerland.

    UBS, the world's largest wealth manager, unveiled $3.4 billion in losses, swept out senior managers and slashed jobs in one of the biggest casualties yet from the worldwide credit crunch.

  • 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.