Tag Archives: Business & Economy

UBS Group AG beat analysts’ second-quarter profit estimates and said it’s on track to cut costs by 2.1 billion Swiss francs ($2.2 billion) through 2017, with Chief Executive Officer Sergio Ermotti struggling with a slump at the wealth management and securities-trading units. © Denis Linine | Dreamstime.com Net income slipped to 1.03 billion francs from 1.2 billion francs a year ago, the Zurich-based bank said in a...

Investec Switzerland. The Swiss Market Index and global stock markets failed to extend last week’s rally after the Federal Reserve and Bank of Japan left rates unchanged and gave mixed messages about the global economic outlook. © Josefkubes | Dreamstime.com Japanese shares received a short-term boost after Prime Minister Shinzo Abe’s announced plans of a 28 trillion yen ($265 billion) economic stimulus drive, including a 13 trillion yen fiscal spending package for...

Investec Switzerland. Just a month ago, Credit Suisse CEO Tidjane Thiam and Deutsche Bank CEO John Cryan risked, as one hedge fund manager put it, becoming the dead men walking of European banking as they struggled to shore up their firms’ profitability. © Simon Zenger | Dreamstime.com Thursday’s results from Credit Suisse suggest Thiam may escape that fate while Cryan’s effort to revamp the German lender stalls. After a first-quarter loss, the Swiss bank posted a...

Just a month ago, Credit Suisse CEO Tidjane Thiam and Deutsche Bank CEO John Cryan risked, as one hedge fund manager put it, becoming the dead men walking of European banking as they struggled to shore up their firms’ profitability. © Simon Zenger | Dreamstime.com Thursday’s results from Credit Suisse suggest Thiam may escape that fate while Cryan’s effort to revamp the German lender stalls. After a first-quarter...

Investec Switzerland SMI last Week The Swiss Market Index is set to finish the week slightly higher as investors digest second quarter earnings reports and central bank policy announcements. Click to enlarge. Bonds Global financial markets showed resilience this week following the failed coup attempt in Turkey over the weekend.  Second quarter earnings proved to be the main drive of sentiment with...

Investec Switzerland. The U.K.’s decision to leave the European Union poses a threat to research and development in the pharmaceutical industry, Roche Holding AG Chief Executive Officer Severin Schwan said. © Lucaderoma | Dreamstime.com A departure would mean the country would have to set up its own system for approving drugs for sale, a job now done for bloc members by the European Medicines...

Investec Switzerland. The U.K.’s decision to leave the European Union poses a threat to research and development in the pharmaceutical industry, Roche Holding AG Chief Executive Officer Severin Schwan said. © Lucaderoma | Dreamstime.com A departure would mean the country would have to set up its own system for approving drugs for sale, a job now done for bloc members by the European Medicines Agency. That could put U.K. patients at risk of not getting access to medicines as...

Investec Switzerland. The Swiss Market Index is set to finish the week slightly higher as investors digest second quarter earnings reports and central bank policy announcements. © Taina Sohlman | Dreamstime.com Global financial markets showed resilience this week following the failed coup attempt in Turkey over the weekend.  Second quarter earnings proved to be the main drive of sentiment with shares from Europe to the US fluctuating as investors watched earnings releases...

Investec Switzerland. Givaudan SA, the world’s largest flavors and fragrance company, reported first-half profit that beat analyst estimates on increased demand for perfumes. © Ragsac19 | Dreamstime.com Earnings before interest, taxes, depreciation and amortization rose 13 percent to 638 million francs ($649 million), the Vernier, Switzerland-based company said in a statement on Monday. Analysts had predicted 576 million francs. Sales gained 6.2 percent on a like-for-like...

Investec Switzerland. Givaudan SA, the world’s largest flavors and fragrance company, reported first-half profit that beat analyst estimates on increased demand for perfumes. © Ragsac19 | Dreamstime.com Earnings before interest, taxes, depreciation and amortization rose 13 percent to 638 million francs ($649 million), the Vernier, Switzerland-based company said in a statement on Monday. Analysts...