le News

Investec Switzerland. Nestle SA agreed to pay DBV Technologies SA, a French developer of therapeutic skin patches, as much as 100 million euros ($110 million) for the right to sell an experimental test to detect milk allergy, the most common food allergy in children. © Albina Glisic | Dreamstime.com Nestle will pay the Montrouge-based company 10 million euros upfront for development of the test, which Nestle will have the right to sell globally pending regulatory approval,...

Major Bourses on Course to End Month Sharply Higher (WSJ) Brent crude lower on strong Middle East oil output (Reuters) Treasuries Lose Their Lead Over Shares as Fed Moves Toward Shift (BBG) Lost Decade for Value Stocks Tests Faithful Who Say End is Nigh (BBG) Iraqi army pause at southern edge of Falluja as IS fights back (Reuters) Risky Reprise of Debt Binge Stars U.S. Companies Not Consumers (BBG) The Untold Story Behind Saudi Arabia’s 41-Year U.S. Debt Secret (BBG) Nuns With Guns: The...

After yesterday's US and UK market holidays which resulted in a session of unchanged global stocks, US futures are largely where they left off Friday, up fractionally, and just under 2,100. Bonds fell as the Federal Reserve moves closer to raising interest rates amid signs inflation is picking up. Oil headed for its longest run of monthly gains in five years, while stocks declined in Europe. Treasuries retreated in the first full day of trading since Yellen said late Friday that the improving...

In the latest tragic news from the world of finance, earlier today Zurich Insurance, the largest Swiss insurer which employs 55,000 people and provides general insurance and life insurance products in more than 170 countries, reported that Martin Senn, the company's former chief executive officer who stepped down in a December reshuffle, has committed suicide. He was 59. Senn had been a long-time employee of the insurer, serving as its chief executive for six years before stepping down in...

Investec Switzerland. Stock markets around the world are set to close higher this week after investors interpreted a rise in oil prices as a positive sign for the global economy. The Swiss Market Index (SMI) outperformed global markets amid a strong performance from financials and pharmaceuticals. © Ssuaphoto | Dreamstime.com Sentiment was bolstered this week as oil prices moved above the level of 50 US dollar per barrel on signs that a two-year supply glut may be coming...

Investec Switzerland. Nestlé SA Chief Executive Officer Paul Bulcke said he expects the U.K. will choose to stay within the European Union, though an exit wouldn’t be a huge risk to the world’s largest food company. Brexit probably isn’t among the top 10 risks for Nestlé, Bulcke said Wednesday at a presentation to investors at its headquarters in Vevey, Switzerland. ‘‘I am quite confident wisdom will prevail,’’ he said. Nestlé has something of a ‘‘natural hedge’’ in that...

Investec Switzerland. Switzerland’s top financial regulator warned the risk of money-laundering has risen in Switzerland in recent years as the watchdog said it’s preparing to penalize six Swiss banks over their ties to alleged corruption in Malaysia and Brazil. BSI Bank’s office in Lugano, Switzerland – Source: Facebook – BSIbank Widening corruption scandals at 1Malaysia Development Berhad and Brazilian oil producer Petroleo Brasileiro SA have prompted the regulator to...

Submitted by Charles Hugh-Smith of OfTwoMinds blog, Cash is a proxy for the freedom to maintain some privacy in an era of Big Brother repression, surveillance and the suppression of dissent. I've covered the war on cash i.e. the proposed elimination of cash, a number of times, for example, The War On Cash: Officially Sanctioned Theft (June 13, 2015) Our first question should be: just how big a share of our financial universe is cash? The answer is: vanishingly small. Look at this chart...

Following the demise of the thousand year-long tradition of Swiss banking secrecy, crushed virtually overnight by Barack Obama's demands to make the central European nation's banking industry transparent, one of the major consequences was the shift in money laundering from Geneva and Zurich to the latest and greatest "anonymous" banking and tax evasion hub located halfway around the world, namely Singapore. And overnight, we got the first shot across the bow of the city state's "Swiss banking...

20 Minutes. Switzerland’s competition watchdog COMCO has fined Swisscom CHF 71.8 million. The semi-privatised Swiss telecom operator has been accused of using market dominance to gain an unfair advantage over competitors. © Hai Huy Ton That | Dreamstime.com The commission said “the Swisscom group with its subsidiaries CT Cinetrade AG and Teleclub AG holds a dominant position particularly with respect to live broadcasting of Swiss football and ice hockey championship games on pay TV.” Adding...