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Novartis reports good growth but cautious on 2011

This content was published on Jan 27, 2011 Net profit for the year was $9.969 billion, up 18 per cent compared with 2009. However, fourth quarter profit was down six per cent due to a decline in influenza vaccine sales. The company also warned that price cuts, United States healthcare reform and generics were likely to dampen sales growth this year. Fourth quarter…

Medvedev issues defiant message to extremists

This content was published on Jan 26, 2011 Medvedev had reversed an initial decision not to speak at Davos following Monday’s terrorist attack that claimed 35 lives and injured more than 100 at Moscow’s main airport. “The people who committed this heinous act expected that it would bring Russia to its knees,” he said on Wednesday’s opening day of the annual WEF Davos…

Andermatt development going “according to plan”

This content was published on Jan 26, 2011 Purchase and reservation contracts worth SFr102 million ($108 million) were signed between April and December 2010, with a further SFr9 million in business since the start of this year. The ambitious project, which is the brainchild of Egyptian billionaire Samih Sawiris, will see the transformation of the village of Andermatt in central Switzerland into a…

Transocean lodges appeal at the Federal Court

This content was published on Jan 25, 2011 The company, based in Zug in central Switzerland, had planned a dividend payout of $1 billion (SFr943,500 million) but the Zug Commercial Court, citing pending litigation relating to the Gulf of Mexico oil spill, rejected the payout in August. The decision was upheld by Zug’s Administrative Court. Transocean’s Deepwater Horizon rig drilled the well for…

Unions launch minimum wage initiative

This content was published on Jan 25, 2011 The campaigners have 18 months – until July 2012 – to gather at least 100,000 signatures to force a nationwide vote. “There has been massive pressure on lower and average wages for the past 20 years,” the federation’s president Paul Rechsteiner told a news conference. The text calls for a minimum salary of SFr22 ($23.20)…

WEF focuses on the changing reality

This content was published on Jan 25, 2011 The 41st WEF annual meeting in Davos takes place this month against a backdrop of growing division between countries intent on either finding their own way out of economic difficulties or boosting future growth. The continued rapid growth of emerging economies contrasts with the crippling debt burdens and period of austerity for Western nations. This…

Strong franc talks produce no easy fix

This content was published on Jan 24, 2011 He was speaking at a news conference in Bern after top-level talks organised by the State Secretariat for Economic Affairs (Seco) mandated by Swiss Economics Minister Johann Schneider-Ammann. “If it continues, the high cost of the Swiss franc vis-à-vis the euro and the [United States] dollar entails considerable risks for the Swiss economy,” Gerber said.…

Switzerland inspires Danish design duo

This content was published on Jan 24, 2011 Jorn Werdelin and Morten Linde, two friends who grew up together in Denmark, split their time between the British capital and Copenhagen, but it is their strong bond with Switzerland that has been a major factor in their success. Werdelin’s Swiss connection can be traced back to childhood. He was born into a household of…

White-collar crime cost country less in 2010

This content was published on Jan 24, 2011 Professional services group KPMG said the high total in 2009 was largely attributable to the biggest case of organised crime and money laundering ever to have been brought to trial in Switzerland. The case concerned a cigarette mafia and went before the Federal Criminal Court in Bellinzona. KPMG’s Forensic Fraud Barometer noted that another possible…

Novartis announces major United States deal

This content was published on Jan 24, 2011 A statement from Basel-based Novartis on Monday said the acquisition would strengthen its diagnostics operations and diversify its operations further. The Genoptix board is recommending shareholders accept an offer of $25 per share, which represents a premium of 27 per cent over Friday’s closing price. Novartis said Genoptix, which specialises in diagnosing cancers in bone…

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Novartis reports good growth but cautious on 2011

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Medvedev issues defiant message to extremists

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Andermatt development going “according to plan”

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Transocean lodges appeal at the Federal Court

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Unions launch minimum wage initiative

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WEF focuses on the changing reality

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Strong franc talks produce no easy fix

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Switzerland inspires Danish design duo

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White-collar crime cost country less in 2010

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Novartis announces major United States deal

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