Tag Archives: Editor’s Choice

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...

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...

Investec Switzerland. Swiss stocks are set for a modestly positive end to the week despite stock markets coming under pressure on growing speculation that the US Federal Reserve could raise rates as early as next month. © Kenneth Graff | Dreamstime.com Stocks markets were volatile this week after the latest meeting minutes from the US Federal Reserve showed that most policymakers thought a June interest rate hike was appropriate given the continued improvement of the US...

Le Matin. Swiss customs couldn’t believe their eyes when they visited the garages of a Vaud resident who they had questioned at a border stop in Geneva. The two garages contained a total of 5,000 kgs of food. Among the stash they found 520 litres of spirits, 1,400 litres of wine, 2,800 kgs of meat and large quantities of oil, port and cheese. © Ferenc Ungor | Dreamstime.com The smuggler had created a network allowing the resale of the goods to regular clients including restaurants,...

Investec Switzerland. Glencore Plc shareholders showing up for the miner’s annual meeting on Thursday can take comfort in the stock’s best ever start to a year. Less so the loss of about half the company’s value since they met 12 months ago and more than 70 percent since a $10 billion initial public offering in 2011. Such wild share swings highlight both the opportunities from billionaire Chief Executive Officer Ivan Glasenberg’s plans to cut net debt by as much as $9...

Investec Switzerland. Julius Baer Group Ltd. said net new money from clients amounted to less than 3 percent of managed assets in the first four months of the year, missing its target. Source: Julius Baer Clients in eastern Europe and Latin American showed “slow momentum,” while customers in Asia reduced borrowings and wealthy French and Italians repatriated money for tax declarations, the Zurich-based company said in a statement on Thursday. Julius Baer said it can still...

Investec Switzerland. Swiss stocks are set to close higher this week, outperforming global equities on positive earnings releases and brighter inflation signals. Stock markets around experienced a mixed week as investors weighed Federal Reserve rate hike expectations against gloomy economic data out of the US  with more positive indicators out of China. © Jakub Krechowicz | Dreamstime.com Last Fridays US employment report showed that firms took on the fewest workers in...

Investec Switzerland. Shares of Zurich Insurance Group AG headed for the biggest gain in more than four years after Switzerland’s biggest insurer posted a first-quarter profit that beat analyst expectations. Source: Facebook – Zurich Switzerland The stock rose as much as 5.6 percent, and was trading 5.4 percent higher at 228 francs as of 11:24 a.m. in Zurich, paring losses this year to 12 percent. A close at this level would mark the biggest one-day gain since September...

Investec Switzerland. Nestlé is by far the largest food company in the world. Its 335,000 employees produce more than 2,000 brands, manufactured in 436 factories across 85 countries. It’s Europe’s most valuable corporation, worth $240 billion, comfortably more than oil giant Royal Dutch Shell. Among the world’s 195 nations, it sells in 189. © Gvictoria | Dreamstime.com Nestlé’s impact on the history of how we eat is almost impossible to overstate. Sweets as we know them...