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Credit Suisse lifts profit with surprise equity trading gains

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ZURICH (Reuters) – Credit Suisse set a positive tone for this quarter’s European bank results on Wednesday, lifting its net profit as gains in equities and deeper ties between trading and private banking helped offset lower revenue. FILE PHOTO: The Credit Suisse logo is pictured on a bank in Geneva, Switzerland, October 17, 2017. REUTERS/Denis Read More

ABB upgrades switch fuse disconnector range with new Slimline XR Gold

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4/18/2019 Photo: ABB Slimline XR Gold. ZURICH — ABB has upgraded its market-leading range of Slimline XR low-voltage switch fuse disconnectors, reducing power losses by up to 35% and increasing potential space savings. A host of technical advances and design improvements make the Slimline XR range smart, with higher-performance and suitability for even more demanding Read More

Nestle upbeat after U.S. and China boost first-quarter growth

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ZURICH (Reuters) – Nestle posted higher-than-expected sales growth in the first three months of the year after good momentum in the United States and China, putting it on track to meet its goal of more than 3 percent organic growth this year. FILE PHOTO: A Nestle logo is pictured on a coffee factory in Orbe, Read More

ABB CEO steps down abruptly in middle of group’s overhaul

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ZURICH (Reuters) – ABB Chief Executive Ulrich Spiesshofer has quit the Swiss industrial group as the board and major shareholders look for a speedier turnaround at the maker of industrial robots and supplier of factory automation. FILE PHOTO: Ulrich Spiesshofer addresses ABB’s annual news conference in Zurich, Switzerland February 28, 2019. REUTERS/Arnd Wiegmann/File Photo Spiesshofer’s Read More

Swiss drugmaker Roche ups outlook as sales growth offsets price hit

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ZURICH (Reuters) – Swiss drugmaker Roche lifted its 2019 outlook on Wednesday, as sales growth in China and the United States outpaced price declines it has suffered amid President Donald Trump’s pressure on the industry to hold down charges. FILE PHOTO: The logo of Swiss drugmaker Roche is seen at its headquarters in Basel, Switzerland Read More

ABB seeks new chief executive after Spiesshofer’s surprise departure

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ZURICH (Reuters) – ABB Chief Executive Ulrich Spiesshofer has quit the Swiss engineering group in a surprise move for a company which is in the midst of a strategic overhaul to focus more on digital industries. FILE PHOTO: Ulrich Spiesshofer addresses ABB’s annual news conference in Zurich, Switzerland February 28, 2019. REUTERS/Arnd Wiegmann/File Photo Chairman Read More

Italy’s UniCredit to pay $1.3 billion to settle U.S. sanctions probe

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(Reuters) – Italy’s top bank UniCredit SpA and two subsidiaries have agreed to pay $1.3 billion to U.S. authorities to settle probes of violations of U.S. sanctions on Iran and other countries, U.S. authorities said on Monday. FILE PHOTO: Unicredit bank logo is seen in the old city centre of Siena, Italy June 29, 2017. Read More

Apple, allies seek billions in U.S. trial testing Qualcomm’s business model

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(Reuters) – Apple Inc and its allies on Monday will kick off a jury trial against chip supplier Qualcomm Inc in San Diego, alleging that Qualcomm engaged in illegal patent licensing practices and seeking up to $27 billion in damages. FILE PHOTO: The logo of Apple is seen at a store in Zurich, Switzerland January Read More

Sunrise’s UPC deal faces hurdle as top shareholder blocks capital leeway plan

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ZURICH (Reuters) – Sunrise Communications’ top shareholder on Wednesday blocked plans to extend the company’s right to issue fresh capital to 2021, complicating its bid to buy Liberty Global’s Swiss UPC cable business for $6.3 billion. The logo of broadband and telecommunications provider UPC Schweiz is seen at its headquarters in Wallisellen, Switzerland February 18, Read More

Shareholder adviser Glass Lewis opposes UBS compensation report

2 weeks ago DieselGasoil Comments Off on Shareholder adviser Glass Lewis opposes UBS compensation report
FILE PHOTO: The logo of Swiss bank UBS is seen in Zurich, Switzerland October 25, 2018. REUTERS/Arnd Wiegmann/File Photo ZURICH (Reuters) – Shareholders of Swiss bank UBS Group should oppose its compensation report for 2018, proxy adviser Glass Lewis said, citing “pay-for-performance concern”. Shareholders get a non-binding vote on pay policy at the bank’s annual Read More