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Switzerland
LONDON/ PARIS, Sept 26- Louis Dreyfus will wind down the fund management activities of commodities specialist Edesia Asset Management by the end of the year as part of its drive to focus on trading and processing of agricultural goods. Edesia Asset Management, which is wholly owned by Louis Dreyfus Holding, was established in 2008 and manages more than $1.4...
By Martinne Geller and Silke Koltrowitz. LONDON/ ZURICH, Sept 26- Nestle set a profit margin target for the first time on Tuesday, responding to an industry slowdown and pressure from activist investor Third Point for near-term returns from the world's largest packaged food company. Shares in Nestle were up 1.8 percent to 82.55 Swiss francs by 1317 GMT,...
WASHINGTON- Federal Reserve Board Governor Lael Brainard speaks on "Labor Market Disparities" before the Federal Reserve Board Conference, "Disparities in the Labor Market: What are we Missing?" FRANKFURT- ECB Chief Economist Peter Praet chairing Jean Monnet Lecture, "Good Pension Design" at Second ECB Annual Research Conference organised by the ECB in...
WASHINGTON- Federal Reserve Board Governor Lael Brainard speaks on "Labor Market Disparities" before the Federal Reserve Board Conference, "Disparities in the Labor Market: What are we Missing?" FRANKFURT- ECB Chief Economist Peter Praet chairing Jean Monnet Lecture, "Good Pension Design" at Second ECB Annual Research Conference organized by the ECB in...
GENEVA— Swiss robotics and industrial machinery maker ABB is buying the electrification services unit of U.S. conglomerate General Electric in a deal valued at $2.6 billion, boosting its presence in its crucial North American market. The deal between ABB, which provides high-tech equipment for the transport, utility and infrastructure industries, and GE is...
Power grids maker ABB is buying GE's Industrial Solutions business for $2.6 billion in a bet it can improve the division's lackluster margins.
*Swiss group to pay $2.6 bln for GE Industrial Solutions. ZURICH, Sept 25- Power grids maker ABB is buying General Electric's Industrial Solutions business for $2.6 billion in a bet it can improve the division's lackluster margins over the next five years, the Swiss engineering company said on Monday. Zurich- based ABB sees potential for annual cost benefits of...
ZURICH, Sept 25- Power grids maker ABB is buying General Electric's Industrial Solutions business for $2.6 billion on a bet that it can improve lacklustre margins at the unit over the next five years, the Swiss engineering company said on Monday. Zurich- based ABB sees potential for cost synergies of $200 million annually after five years with the deal, which...
LONDON, Sept 22- Nickel slid 5 percent to a five-week low on Friday after trading fees were raised in China to dampen speculation and steel prices dropped with other metals as investors shunned risky assets after more North Korean tensions. Financial markets were rattled when North Korea said on Friday it might test a hydrogen bomb over the Pacific Ocean after...
ZURICH, Sept 22- U.S. central banker John Williams said on Friday he does not expect any market turbulence as the Fed gets under way with reducing the huge balance sheet built during its campaign to stimulate the U.S. economy. "I don't anticipate any sudden or large effects on rates or spreads or things like that as we normalise," Williams, president of the San...
LONDON, Sept 22- Nickel hit a five-week low on Friday after trading fees were hiked in China to dampen speculation and steel prices slid with other metals as investors shunned risky assets after more North Korean tensions. Financial markets were rattled when North Korea said on Friday it might test a hydrogen bomb over the Pacific Ocean after U.S.
ZURICH, Sept 22- Adecco Group is investing in digital technology to make it more attractive to employers seeking flexible workers, the world's largest staffing company said on Friday, as it targets faster growth as the global economy recovers. It also unveiled a raft of cost savings and digital investments ahead of its investor day in London.
NEW YORK/ WASHINGTON, Sept 21- From her early days as Federal Reserve chair, Janet Yellen has been the target of criticism from Republicans worried that the central bank's massive bond-buying programs and near-zero interest rates engineered by her predecessor would be the ruin of the country. With little more than four months left in her term and questions...
FRANKFURT/ BERLIN, Sept 21- A profit warning from one of the world's largest reinsurers is the latest sign that the death and destruction from a spate of hurricanes and earthquakes in North America are now taking a toll on the titans of global finance. Munich Re last issued such a warning in 2011 after losses from an earthquake and tsunami in Japan, a spokeswoman...
GENEVA— The World Trade Organization has revised sharply upward its forecast for world trade growth this year to 3.6 percent, citing "resurgence in Asian trade flows" and a rebound in North American import demand. The upturn compares to what the Geneva- based trade body called a "lackluster" performance of 1.3 percent growth last year. Director-General Roberto...
ZURICH, Sept 21- Nestle plans to cut up to 450 jobs at a Galderma research and development centre in southern France, the Swiss company said on Thursday, as it seeks to make the underperforming skin health business more efficient. Galderma, which Nestle took over from its joint venture partner L'Oreal in 2014, will cut as many as 450 of 550 jobs at its R&D centre in...
ZURICH, Sept 21- Nestle plans to cut up to 450 jobs at a Galderma research and development center in southern France, the Swiss company said on Thursday, as it seeks to make the underperforming skin health business more efficient. Galderma, which Nestle took over from its joint venture partner L'Oreal in 2014, will cut as many as 450 of 550 jobs at its R&D center in...
*Decision comes amid flurry of payments deals in Europe. *Portugal's SIBS, Germany's BS Payone also on the block. FRANKFURT/ LONDON, Sept 20- Swiss stock exchange operator SIX Group has hired JPMorgan to look at options for its payments unit, including a sale worth up to 2 billion Swiss francs, sources familiar with the plans told Reuters.
*Decision comes amid flurry of payments deals in Europe. *Portugal's SIBS, Germany's BS Payone also on the block. FRANKFURT/ LONDON, Sept 20- Swiss stock exchange operator SIX Group has hired JPMorgan to look at options for its payments unit, including a sale worth up to 2 billion Swiss francs, sources familiar with the plans told Reuters.
LONDON, Sept 20- Hedge funds have trimmed bets on a fall in shares of Clariant, just as activist investor Corvex increases pressure on the Swiss chemicals company to ditch a $20 billion M&A deal with rival Huntsman. Clariant and Huntsman announced their merger in May valued at about $20 billion, but Corvex, run by New York- based Keith Meister, took a stake in Clariant...
