Business


Chemical brothers

Another day, another big pharma deal. Novartis and GlaxoSmithKline (GSK) became the latest companies to join the industry’s mergers and acquisition frenzy on Tuesday with a sweeping exchange of assets that will reshape both companies.  

Executive bonuses

A new era of pay restraint for Swiss bosses has got underway with a swirl of sparklers rather than a full scale firework display. Even when the new bonus-curbing rules come into full effect by 2016, few people believe the ‘cats’ will get very much leaner.  

Big sales

Nestlé, the world’s largest food company, has moved into the top three of a worldwide ranking of consumer product companies, according to a report compiled by business advisory firm Deloitte.  

Credit Suisse ploughs on

Credit Suisse will continue to cooperate with the United States authorities in the ongoing tax dispute, although no end to the probe is in sight, CEO Brady Dougan has said in an interview with the Swiss investment magazine Finanz und Wirtschaft.  

Anti-crisis tool

The debate on the merits of a minimum wage can be heard far beyond the borders of Switzerland, where voters will decide on May 18 whether to adopt a nationwide limit. Many western and emerging nations are also grappling with the issue.  

Swap shop

Offset, as it’s known in the trade, is a term that has frequently been heard in the Swiss debate on buying 22 Swedish Gripen fighter jets. But, ahead of a nationwide vote, past experience of industrial back-scratching isn’t exactly encouraging.  

Employment squeeze

Half of Swiss companies expect the recent vote to restrict the inflow of European Union workers to have a negative impact on their ability to fill jobs, according to a survey. At the same time, 36% of professions are experiencing a talent shortfall.  

UBS helmsman

In late September 2011, the high command of UBS gathered in Singapore for a series of crucial meetings. A week earlier, the Swiss bank had uncovered a $2.3 billion (CHF2.02 billion) loss caused by a rogue trader in London, and the lender’s leadership was under intense pressure to respond.  

New era

Whether you trace them back to Assyrian trading networks in 2000BC, or only as far as the mid-19th century when the modern cross-border joint-stock company was born, multinationals have had a good run.  

Dirty assets

As elections get underway in India this week, much of the campaigning debate has centered around corruption, the flood of illicit money fleeing the country and the tax havens, like Switzerland, that are believed to shelter these assets.  

Legal bite

Technology group Kudelski has said that its OpenTV and Nagravision subsidiaries have filed a lawsuit against Apple Inc in a court in northern California, alleging the iPhone maker has infringed five United States patents.