Stadler goes through the rags with a billion-dollar procurement ++ Never before has the SBB chauffeured so many people ++ Electricity prices: Federal Councilor Rösti calls on consumer protection to act
New boss, deep red numbers or company sold? With the stay up to date with the daily economic ticker you about that event informed. The latest news from the Swiss business world.
5:28 p.m Monday, September 4th
Procurement of billions: Stadler is at a disadvantage with ÖBB
After the ÖBB had recently ordered trains from the Swiss manufacturer Stadler several times, they have now switched back to the German Siemens group. According to this, ÖBB is procuring up to 540 Mireo electric multiple units from Siemens for long-distance transport within the Alps and for local transport in several federal states.
The total volume of the framework agreement, which will run for more than ten years and has been reviewed and confirmed by the Federal Administrative Court, is stated to be over 5 billion euros. However, according to the Viennese newspaper “Der Standard”, this volume is currently not realistic, as ÖBB had already signaled in advance that it would call off a maximum of 200 multiple units in the next few years. The first vehicles are to replace old rolling stock from 2028.
Stadler had also been given good chances for this ÖBB framework agreement in advance. Most recently, ÖBB ordered 35 more double-deckers from Stadler in July from a framework agreement signed in 2022, which increases the total order to 76 double-deckers. Also in July, ÖBB awarded Stadler the contract for a framework contract for up to 120 battery trains, of which 16 units will be ordered in an initial order. (T.G.)
11:17 a.m Monday, September 4th
Open letter: Consumer protection calls on Federal Councilor Rösti to act
Across the country, electricity providers are currently announcing their tariffs for the coming year. And they know almost exclusively one direction: upwards. And sometimes very steep. The electricity market regulator Elcom intends to present the first major overview of where electricity costs how much in detail on Tuesday.
As early as Monday, consumer protection is calling on politicians to act. In an open letter, she made Energy Minister Albert Rösti responsible for this. It is incomprehensible that the major Swiss electricity providers are posting “dizzying profits” while the tariffs for the population continue to rise.
According to consumer protection, this “maximum imbalance between costs and prices” is only possible because households are tied to their local electricity provider. Accordingly, consumers would be severely disadvantaged by the applicable electricity market rules. Large electricity consumers, on the other hand, have been able to choose their supplier on the open market since the partial liberalization of the electricity market.
In an open letter, consumer protection calls on Energy Minister Rösti to bring the electricity industry and its customers together to relieve private households financially. On the one hand, price-related measures should be discussed, as well as energy efficiency.
In addition, the price monitor is inviting consumer protection organizations to a purchasing power summit in Bern on Tuesday. The rising electricity market prices will certainly also give cause for discussion. (chm)
10:02 a.m Monday, September 4th
SBB are back in the black
In the first half of the year, SBB transported an average of 1.33 million passengers every day. Compared to the previous year, this corresponds to an increase of 21.4 percent and compared to the first half of 2019 an increase of 3.04 percent. The train announced on Monday that there were more people on the trains than ever before. The travelers came back faster than expected after the corona crisis, in which public transport suffered major losses. International passenger transport is particularly popular: with 5.7 million passengers in the first half of the year, this was around 20 percent higher than in 2019.
The increase in passengers did not come at the expense of punctuality, on the contrary: it even increased slightly. In the first half of the year, 93.6 percent of trains were less than five minutes late and 98.8 percent of connections were made. In western Switzerland and Ticino, however, the SBB are still not satisfied with punctuality, just like in international passenger transport.
The financial result in the first half of the year was significantly better than in the same period of the previous year: at CHF 99.0 million, SBB was again able to make a profit compared to a loss of CHF 142.3 million in 2022. In long-distance traffic, which the railways operate on its own she wrote a profit of 13.7 million francs compared to a loss of 122.9 million francs a year ago. According to Deutsche Bahn, however, this profit is still too small to finance future investments. Regional transport also fared better with a profit of CHF 18.3 million and an increase in the cost recovery ratio from 56.2 to 60.1 percent.
In order to stabilize the financial situation, SBB says it needs an annual profit of CHF 400 to 500 million. Because this goal has not yet been reached and debt has risen again, the pressure to save and be efficient remains high, according to Deutsche Bahn. By 2030, the SBB want to spend around six billion francs less – among other things with a new energy strategy, more profits in long-distance transport and subsidies for so-called single wagonload traffic, i.e. the transport of smaller amounts of goods domestically. (ehs)
09:52 a.m Monday, September 4th
Cyber attacks: Half of larger companies have been victims
In the digital space, growing dangers lurk for companies – especially for the larger ones. Almost every second Swiss company with more than 250 employees has already been the victim of an attack. This is shown by the new edition of the SwissVR Monitor, which the SwissVR association created together with the consulting firm Deloitte and the Lucerne University of Applied Sciences and Arts, and for which more than 400 board members were surveyed.
In contrast, small and medium-sized enterprises (SMEs) seem to be less affected: in companies with a maximum of 50 employees, only one in five reported a serious attack. Two reasons are given for this in the Monitor: On the one hand, smaller companies are less exposed, on the other hand, such incidents are sometimes not reported to the board of directors.
Cyber attacks are often disruptive to business. As the most common consequence, the companies named a business interruption (42 percent). Also common are data leaks (26 percent), product and service malfunctions (20 percent), and follow-up attacks on their own customers (11 percent). The costs in the aftermath of an attack, for example for restoring data, should not be underestimated either. (aka)
09:00 a.m Monday, September 4th
Boom levels off: Swiss economy stagnates in the second quarter
The deteriorating global economic situation is now also leaving its mark on Switzerland. As the State Secretariat for Economic Affairs (Seco) announced on Monday, the total value of all goods and services manufactured in Germany stagnated in the second quarter of the current year. For comparison: From January to March, the sports-adjusted gross domestic product (GDP) grew strongly by 0.9 percent.
As Seco explains, the value added in industry fell significantly from April to June. The service sector, on the other hand, once again grew at an above-average rate in the same period. According to Seco, foreign trade also made a positive contribution to GDP growth in the second quarter. The decline in goods exports is offset by increased service exports and declining imports. (sat)
8:41 a.m Monday, September 4th
St.Gallen Camion Transport AG takes over Basler Haenger AG
Camion Transport AG from Wil (SG) takes over the loading company Haenger AG in Basel. As the two family companies announced on Monday, they want to bundle their business activities at the Wolf freight station in Basel and thus use synergies. All employees should be taken over.
As a trigger for giving up self-employment, the company mentions a residential development project that is planned at the previous location. As a result, a conversation was sought with Camion Transport AG. This also operates a location on the same site.
“We benefit from each other, it’s the classic win-win situation,” said Josef Jäger, director of Camion Transport AG, in the statement. Hanger Managing Director Karin Ruppen is “very happy with the decision”. A future-oriented solution has thus been found for employees and customers.
According to its own information, Camion Transport AG employs 1,400 people at 15 locations and processes 7,500 shipments every day. Hanger AG loads and unloads trains and ships overseas containers and, according to information provided to CH Media, employs ten people. (sat)
8:24 a.m Monday, September 4th
Nestlé sells its billion dollar misunderstanding
That was a brief and expensive misunderstanding: after only three years, Nestlé is selling its Palforzia business again. This specializes in the diagnosis and treatment of peanut allergies.
The takeover of Palforzias in 2020 for $ 2.6 billion was the largest foray into the pharmaceutical business by Nestlé boss Mark Schneider. But last November, the French-speaking Swiss food giant announced that it was undergoing a strategic review of Palforzia. Just a few months later, a write-down of $2.1 billion was made.
The buyer of the drug is the biopharmaceutical company Stallergenes Greer. In addition to an undisclosed amount of money, Nestlé will also receive license fees, according to a statement. The maker of Thomy mayonnaise, Kitkat chocolate and Nespresso coffee wants to focus on other growth drivers. In addition, it is ensured that patients have seamless access to Palforzia treatments. (if)
7:07 a.m Monday, September 4th
Dieter Meier’s chocolate bar Freak is now also available in Switzerland
Yello singer and wine producer Dieter Meier expanded into the sweets business five years ago. The Zurich artist now also produces for his organic fair trade brand Oro de Cacao in Freienbach (SZ).
As of Monday, their 40 gram Freak chocolate bar will also be available for sale in Germany, as Valora reports. And exclusively in all Avec, K Kiosk and Press & Books sales outlets.
According to Meier’s premium chocolate company, it is breaking new ground in the processing of cocoa beans. On the one hand, this includes a unique extraction process at low temperatures. This makes it “possible to produce chocolate that is not dominated by bitter substances, even with a high cocoa content,” writes Oro de Cacao.
In addition, “significantly less sugar is needed than with conventional chocolate production”. And the 78-year-old Meier’s company promises that the chocolate will do without any “unnecessary” added flavorings. Valora, in turn, writes that they use new technologies in the food sector and would like to offer Swiss producers a platform for their innovations. (sat)
11:02 a.m Friday September 1st
For 2,600 households: Axpo wants to build the first alpine solar system in Schwyz
Axpo is planning to build an Alpine solar system for 2,600 households in the canton of Schwyz together with the local energy company EWS AG. As the energy company announced on Friday, those affected were informed about the project on Thursday evening.
According to Axpo, the first alpine solar system in the canton will be 9 hectares in size and is planned on pastures in the Roggenegg area. The plant is scheduled to go into operation from 2025 and will eventually produce over 12 gigawatt hours of power per year. The electricity is to be fed in via the existing distribution grid.
Like the other two well-known alpine solar projects from Axpo (NalpSolar and Disentis ski area), Alpin Solar Ybrig is also geared towards winter electricity. All three projects are to be promoted and funded as part of the solar initiative decided by the federal government. (sat)
10:46 a.m Friday September 1st
Earlier than planned: All fuel assemblies removed from the Mühleberg nuclear power plant
With the dismantling of Switzerland’s first nuclear power plant, the operator has already reached “the most important milestone” earlier than planned. As announced by BKW on Friday, the last fuel elements in the Mühleberg nuclear power plant have just been removed. Without nuclear fuel, the nuclear power plant “no longer represents a nuclear hazard,” according to the Bern-based energy company.
Specifically, according to BKW, 66 transports with a total of 418 spent fuel elements to the interim storage facility in Würenlingen in the canton of Aargau have been carried out in the last two years. In the original dismantling plan drawn up in 2015 for the Mühleberg nuclear power plant, a good year more was planned for this work. Now the last remnants of nuclear material are to be removed.
As the first nuclear power plant operator in Switzerland, BKW decided almost ten years ago not to continue operating the oldest nuclear power plant in the country because of the major investments that were to be made in the plant. At the end of 2019, the Mühleberg nuclear power plant was finally shut down. Since then, the dismantling, which is expected to last until 2025, has been underway. (sat)
09:57 am Friday September 1st
The prospects for Swiss industry remain gloomy
The mood in Swiss industry shows a slight recovery in August. Nevertheless, it remains below the growth threshold, as can be seen from the latest Purchasing Managers’ Index (PMI) published on Friday.
Specifically, the PMI increased by 1.4 points in August and is now at 39.9 index points. However, this slight plus compared to the previous month is offset by a massive minus of 16.8 points compared to the same period last year.
This means that the purchasing managers’ index is “still at such a low level as it was last during the pandemic recession in 2020 and the global recession in the 2009 financial crisis,” analyzes Credit Suisse.
In particular, production in Swiss industry has been declining for the fifth month in a row. And the fact that almost half of the companies in the survey, which is carried out regularly, reported less well-filled order books, “no rapid recovery can be expected in the coming months”. (sat)
8:45 a.m Friday, September 1st
Among other things, because of rents: inflation rose by 1.6 percent in August
Inflation rose by 1.6 percent in August compared to the same month last year, as the Federal Statistical Office (BFS) announced on Friday. And the national index of consumer prices rose by 0.2 percent in August compared to the previous month. It is now at 106.4 points (December 2020=100).
According to the BFS, the price increases are due to various reasons. For example, fuel and heating oil have become more expensive. And apartment rents and fees for securities accounts have also risen. On the other hand, rents for private transport and prices for flying and package tours abroad have fallen. (sat)
8:18 a.m Friday September 1st
Reference interest rate remains the same – for the time being
It is good news for tenants in Switzerland: the mortgage reference interest rate remains unchanged at 1.5 percent, as the Federal Housing Office announced on Friday morning. This means that rents in Switzerland should not continue to rise across the board for the time being. A 0.25 percentage point increase in the reference interest rate, as was done on June 1, entitles landlords to a rent increase of 3 percent.
However, a further increase is only a matter of time: Specialists expect further increases in the coming months. It could be that time again as early as December 1st. This time it just barely missed an increase: The relevant average, which is calculated from practically all mortgage claims in Switzerland and is then rounded to a quarter of a percent, was already very close to the next higher threshold. On June 1, the reference interest rate rose for the first time since it was introduced in 2008 – from 1.25 to 1.5 percent.(aka)
1:27 p.m Thursday 31 August
Thanks to keys and gates: Dormakaba increases profit and sales
The locking technology group Dormakaba, based in Rümlang ZH, can look back on a successful 2022/23 financial year. Also thanks to changes in the accounting method, the profit increased from CHF 38.8 million in the previous year to CHF 88.5 million. Meanwhile, sales rose by 3.3 percent to CHF 2.85 billion. Organically, the increase in sales – not least thanks to price increases – was 8.4 percent.
Dormakaba relies heavily on contactless and obstacle-free solutions within buildings that control the flow of people. This recently included, for example, self-boarding gates at Bangalore Airport in India. The company also installed electric door systems and machines for automatic passport control there.
The result could have been even better. But cost inflation in Europe weighed on the numbers, as did high staff turnover in the US and supply chain bottlenecks. The group achieved the strongest organic growth in North America with an increase of 10.5 percent to CHF 782 million. Here, too, Dormakaba was able to push through higher prices, as stated in a statement. In addition, one benefited from strong construction activity, for example in commercial and multi-family houses.
Despite the good result, the dividend will be reduced by CHF 2 to CHF 9.50 per share. Dormakaba boss Jim Heng-Lee justifies this with a restructuring program. Looking to the future, he is confident: Heng-Lee expects organic sales growth of three to five percent in the current financial year. (if)
12:15 p.m Thursday 31 August
Inflation in the Eurozone is stagnating
Consumer prices in the euro zone did not recover further in August. The annual inflation rate remained at 5.3 percent, as reported by the Eurostat statistics office in Luxembourg on Thursday. The medium-term inflation target of the European Central Bank (ECB) of two percent is thus still clearly exceeded. Last year, inflation was at times in the double digits as a result of the Ukraine war.
The ECB is resisting the development with strong interest rate hikes, since the summer of 2022 it has raised its key interest rate by a total of 4.25 percentage points. However, the further course is uncertain.
In contrast to headline inflation, core inflation declined slightly, excluding volatile prices for goods such as energy. It fell to 5.3 percent from 5.5 percent in the previous month. In the opinion of many experts, core inflation reflects basic inflation and therefore represents the inflation trend somewhat better than the overall rate. Compared to July, overall consumer prices rose 0.6 percent and core consumer prices rose 0.3 percent. (dpa)
11:47 a.m Thursday 31 August
Twice as many guests on the Jungfraujoch
The Jungfrau Railway Group can look back on a successful first half of the year. As the mountain railway company announced on Thursday, almost 420,000 guests traveled to the Jungfraujoch by the end of June. That is more than twice as many as in the first six months of 2022, which were still heavily influenced by the pandemic. The numbers are still 11 percent below the value of 2019. According to Jungfrau Railways, this is due to weaker business with groups because there are still bottlenecks in issuing visas and there are no flight connections. For example, Swiss has still not resumed its flights to Beijing.
Nevertheless, the Jungfrau Railways achieved a record half-year profit of CHF 35 million, which means that the previous best result from 2019 was exceeded by another CHF 11 million. The operating income amounted to 132.5 million Swiss francs.
At the same time, Urs Kessler, who has been in charge of the company for 15 years, announced his resignation as CEO. However, he will remain in office until mid-2025. (aka)
7:57 a.m Thursday 31 August
Zürcher Kantonalbank writes record profit
The first half of the year was successful for Zürcher Kantonalbank (ZKB). On Thursday morning, the largest cantonal bank reported a profit of CHF 677 million, which is a good 25 percent more than in the first half of 2022 and means a new record. Operating income also rose by 25.5 percent to around CHF 1.69 billion. The strong result is based on a “significant increase in the interest business, a pleasing trading result and a stable commission and service business”, as the ZKB writes.
According to the cantonal bank, the main pillar of the interest business has developed particularly positively: net income rose by 45.5 percent to around 946 million francs. In addition, the bank received new money of CHF 19.3 billion in the first six months. Client assets under management grew by 7.6 percent to CHF 430.4 billion. Although the cantonal bank expects a weaker second half of the year, it declares itself “well prepared”. (aka)
10:32 a.m Tuesday, August 29th
Beatrice Bichsel becomes head of real estate at SBB
Personnel shift at SBB: At the end of June, Alexander Muhm took over the management of SBB Cargo, now Beatrice Bichsel will officially succeed him on September 1 and become head of the SBB real estate division, as SBB announced on Tuesday. Bichsel has been working in various functions at SBB Immobilien for 12 years, since June 2020 she is a member of the executive board of the real estate unit. (chm)
09:39 am TUESDAY 29 AUGUST
Artemis profits and sales decrease significantly
The Artemis Group reports a “solid” business development in a “very challenging” market environment. This is expressed very positively for numbers that are not so positive. The group’s net sales fell by 2.1 percent year-on-year to CHF 1.79 billion. The net profit collapsed by 27.9 percent to 96 million francs.
At the kitchen manufacturer Franke, the largest company within the Artemis family, sales fell by 7.8 percent to CHF 1.2 billion. However, “consistent price management and a high degree of operational flexibility” made it possible to compensate for the “increased input costs” in an “extraordinarily difficult market environment”.
The company also sees the future prospects for the current financial year as “subdued and uncertain”, as Artemis writes on Tuesday. “Fragile supply chains, volatile logistics, raw material and energy costs as well as persistently high inflation and massively increased interest rates will continue to complicate market development,” the statement said.
Nevertheless, the company remains “confident”. The company is strategically well positioned and has an equity base and a very low level of debt. (mg)
8:46 a.m TUESDAY 29 AUGUST
Vaudoise Insurance can increase sales
The French-speaking Swiss insurance group Vaudoise achieved a net profit of 70 million francs in the first half of the year. That with a turnover of 974 million. Vaudoise was able to increase both key figures, as the insurance company announced on Tuesday.
“Our company achieved a good half-year result in an environment characterized by inflation,” says CEO Jean-Daniel Laffely. In German-speaking Switzerland in particular, Vaudoise was able to achieve significant growth. Here, the premiums written in the non-life area increased by 7.3 percent.
In motor vehicle insurance, the entire group registered an “excellent increase” of 5.2 percent. On the other hand, inflation put pressure on the claims burden, as the company writes. The combined ratio was 94.8 percent. In the same period of the previous year, this was slightly better at 93.2 percent.
For the year as a whole, Vaudoise expects “further growth”. (mg)
7:37 a.m Tuesday, August 29th
Raiffeisen rejoins the Bankers Association
The relationship between the Bankers’ Association and the Raiffeisen Group is complicated and always accompanied by some discord. Long-time Raiffeisen leader Pierin Vincenz repeatedly threatened to leave the banking association – but ultimately never did so, keeping his internal adversaries – and especially the big banks – in check. After his fall, his successor, Guy Lachappelle, wanted to do everything differently than his predecessor and actually left the bankers’ association with the Raiffeisen Group a good two years ago. After Lachappelle’s inglorious resignation, his successor Thomas Müller is now making a new attempt: the Raiffeisen Group is rejoining the bankers’ association.
The back and forth has a regulatory-political background in addition to the intentions of the Raiffeisen superiors to raise their profile: the association was constantly suspected by the Raiffeisen group of swallowing or even postulating regulatory requirements that they needed for their international business, but for smaller ones banks were difficult to implement. And so the largest domestically oriented retail banking group repeatedly resisted the association decisions dictated by the big banks, not always with success.
Good news for the President of the Banking Association
The Raiffeisen Group is now giving its industry association a new chance and will join again “at the end of August”, as the association and the bank both announced on Tuesday. It is said that the aim is to join forces to tackle the upcoming challenges of the financial center. According to Raiffeisen and the Bankers Association, they agree “that a stable and robust financial system must be made up of banks with different business models and corresponding interests”.
This coexistence of different business models should also be reflected at the top of the association: Raiffeisen President Müller should be installed directly as the association’s vice president. Officially, the election will take place at the general assembly of the association on September 14, 2023.
The return of Raiffeisen is good news for the President of the Banking Association, Marcel Rohner, after all he lost another important member with the demise of Credit Suisse. (fv)
7:11 a.m TUESDAY 29 AUGUST
Zurich Airport almost back to pre-crisis level
Only in the summer of 2019 was the profit at Zurich Airport even higher. At that time, the company achieved a consolidated result of 143 million francs, in the first half of 2023 it was now 138 million francs.
“The increasing demand for air travel and the positive development of the real estate and commercial business” have contributed to this, as Zurich Airport wrote in a statement on Tuesday. A total of CHF 577 million was generated. While passenger flights increased significantly, there was a 13 percent decline in cargo handled. Here the reason lies in the “sea freight regained strength.”
Zurich Airport is also optimistic for the rest of the year. The current year “developed better than initially expected and international travel continues to recover,” says the statement. (mg)
6:40 a.m Tuesday, August 29th
UBS and financial blog “Inside Paradeplatz” reach an agreement in court
When the team around the journalist Lukas Hässig reports on news from the banking world on the finance portal “Inside Paradeplatz”, hearty words are often chosen. This applies to both the articles and the comment area. Credit Suisse went too far several times and filed a lawsuit. She had criticized several articles and criticized the fact that her employees were denigrated in the texts.
Now the portal and UBS, which has taken over CS, have agreed on a settlement in court. “Inside Paradeplatz” has “deleted numerous reader comments and deleted or adjusted three passages in two publications,” says the finance portal. And further: “Inside Paradeplatz expresses its regret for any injuries caused by the publication of reader comments.”
The other claims were dropped in the context of this settlement. However, “Inside Paradeplatz” committed itself to “carefully reviewing reader comments in advance and not allowing any personal injury against the plaintiffs”.(mg)
3:15 p.m Montag, 28. August
Manor cuts 80 jobs in the headquarters
Roland Armbruster has now been in office as Manor boss for a good six months after his predecessor Jérôme Gilg had to vacate his post from one day to the next. Yesterday Armbruster explained how the department store group should continue. Above all, savings should now be made there. A reorganization at the headquarters in Basel is announced, “which is to be implemented step by step by the end of 2024” and will ultimately lead to a reduction of 80 jobs “in the central services”. Manor promises that natural fluctuations and early retirements will be taken into account. “Connection solutions are being sought for affected employees, either internally at Manor or externally.” Where this is not possible, employees receive support in looking for a job and in the application process, and a social plan negotiated with employee representatives is also available.
In principle, according to Armbruster, the offer should be further expanded in the coming months and years, “under the aspect of regionality and sustainability”. Manor wants to set priorities in the areas of beauty & perfumery, fashion, where the areas in 12 large department stores are to be modernized, as well as in Manor Food with the expansion of the product range “fait maison” and “local”, i.e. products that are made by the Manor teams are made in-house or come from regional producers. (fv)
1:29 p.m Montag, 28. August
Weko wants to present a report on the UBS-CS deal at the end of September
In March, the Competition Commission (Weko) had nothing to report on the forced takeover of Credit Suisse by UBS. Because in the case of mergers of banks, the Financial Market Authority (Finma) can take the place of ComCo in the interest of creditor protection. That’s what the antitrust law says.
Nevertheless, the opinion of the competition authorities is in demand: In such a case, they simply have to submit it afterwards, even if that will not change much in the case, as Laura Baudenbacher, President of the Competition Commission, shortly after the UBS-CS deal in one Interview with CH Media stated: “After its investigation, ComCo can announce its competition policy concerns, it can no longer change anything about it.”
It is now clear when Weko will make its opinion known: “We will send our opinion to Finma at the end of September,” Weko director Patrik Ducrey told the “Handelzeitung”. Weko is currently conducting hearings on this.
Ducrey does not want to comment further on the content. That means he doesn’t want to say whether ComCo will recommend Finma conditions, and if so, which ones. But it is also clear that Finma does not have to accept the concerns presented by ComCo. (fv)
1:15 p.m Montag, 28. August
Another change of management at Weleda: Tina Müller becomes the new CEO
The President of the Weleda Board of Directors, Thomas Jorberg, has already resigned from his position as boss after six months. As the well-known natural cosmetics company in Europe announced on Monday, Tina Müller will take over the post in October.
In the spring, Weleda announced that Jaberg wanted to hold the dual function during the company’s ongoing two-year restructuring for alternative medicines and personal care products. This step is intended to strengthen the integrated view across all departments.
The German manager is to ensure “sustainable growth in natural cosmetics and medicines” at Weleda. According to a Weleda announcement, Tina Müller is a recognized personality for transformation, brand development and digitization. From 2017 to 2022, the 54-year-old headed the Douglas perfumery.
Recently, the Weleda company, which emerged from anthroposophy, had to struggle with economic problems and lost around three percent in sales last year. At times, employees even had to be sent on vacation. The company, which is based in Arlesheim (SO) and was founded in 1921, employs around 2,500 people in around 50 countries. (sat)
8:23 a.m Montag, 28. August
On the verge of spin-off: Sandoz completes acquisition of Mycamine
Shortly before Sandoz’s planned IPO in mid-September, the generics subsidiary of Novartis completes a major takeover. As the Basel-based pharmaceutical company announced on Monday, Sandoz has completed the purchase of the global Mycamine trademark rights from Astella, which it had announced earlier this year. It acts s I am dealing with a world-leading portfolio of anti-infectives from the Japanese drug company.
For CEO Richard Saynor, the acquisition is a sign of how Sandoz is promoting “responsible access to important antimicrobial medicines”. In addition to investing in the production network, the company is also constantly expanding its portfolio.
According to Novartis, the acquisition of the world’s leading echinocandin, one of the top three antifungal classes, will significantly strengthen Sandoz’s global hospital offering and its leading anti-infective portfolio. According to Astellas, it generated sales of 105 million US dollars with Mycamine in the past financial year. (sat)
09:09 am Friday 25 August
Twint: Payment app also offers shopping on pump with a new function
With Twint you can now also shop on credit. As the payment app announced on Friday, it is currently gradually introducing the new “Pay later” function. This should make “the processing of payments even more flexible” and will be offered in cooperation with Swissbilling. In other words: “With certain retailers, users can choose whether they want to pay immediately or in 30 days.”
According to Twint, users make their purchases “as before in the online shop of their choice” and select the payment app as a means of payment. If a retailer offers the option of paying later with Twint, users can choose when checking out whether they want to pay immediately or within 30 days. (sat)
8:41 a.m Friday 25 August
More jobs, fewer open jobs – but the prospects are clouding over
Employment in Switzerland continues to increase. Specifically, the number of jobs rose by 116,000 to 5.4 million in the second quarter. This corresponds to an increase of 2.2 percent compared to the same quarter of the previous year (seasonally adjusted 0.6 percent). According to the Federal Statistical Office (FSO), the growth in employment will therefore remain “at a high level”.
As the BFS continues to write, the companies reported a total of 2,900 fewer vacancies in the same period than a year earlier. This corresponds to a minus of 2.3 percent.
According to the federal statisticians, the indicator of employment prospects, on the other hand, shows “a slight decline” by 1.1 percent, even if it remains in the positive range. Nevertheless, the previously good prospects on the Swiss labor market are beginning to cloud over. The greater Zurich region recorded the largest decrease in the indicator at -2.7 percent. (sat)
7:35 a.m Friday 25 August
Salt: More subscriptions and more profit
Salt got off to a good start in the new financial year. In any case, the third-largest Swiss mobile communications provider reported on Friday a “strong financial result and sustained growth in subscribers in all areas”, as stated in a statement. According to Salt, revenue from postpaid services has increased for the eleventh consecutive quarter.
Specifically, the number of mobile subscriptions in the first six months of the current year rose by a net 27,600 to over 1.5 million. According to the announcement, there are also more than 200,000 broadband subscriptions.
“The steadily increasing number of subscribers and the resulting growth in sales are proof that Salt offers consistently good value for money,” says Max Nunziata according to the release. And the new CEO promises to stick to the chosen path and thus to further strengthen the market position in all segments.
In fact, Salt’s growth is also paying off financially. Operating income rose by 3.4 percent to CHF 228.4 million in the first half of the year compared to the previous year. And the operating result before interest, taxes, depreciation and amortization (Ebitda) climbed by 5.4 percent to 142.7 million. (sat)
11:50 a.m THURSDAY 24 AUGUST
“Republic”: Employees released due to allegations of harassment
According to the current newsletter of the online magazine, several people have made allegations of sexual harassment against “a person employed by the “Republic”. The accused has now been released “immediately and for the duration of an investigation”.
The reason for the openness via newsletter is a media inquiry in which the “Republic” and the accused were confronted with specific allegations. Previously, due to a “see only” clause, the responsible authorities were forbidden “to talk to anyone else internally or externally about the allegations.” However, the investigation had already been initiated beforehand, as several cases had been reported to the Equal Opportunities Office. According to the newsletter, this is the neutral point of contact for such situations.
The “Republic” team is silent about the content of the allegations in the text. “What we can say at the moment is not much. Except: We take such cases very seriously.” The case will be dealt with “as carefully and as quickly as possible.” Actually, according to the “Republic”, “we see our task as a media company to a large extent in combating mechanisms of abuse.” Now it has become clear that “there is still a lot of work ahead of us.”
The presumption of innocence applies to the accused. (mg)
11:03 a.m Thursday, August 24th
Marianne Wildi resigns as CEO of Hypothekarbank Lenzburg
The Hypothekarbank Lenzburg is turning its management inside out: the long-time managing director Marianne Wildi is to give up her position and be elected to the board of directors.
10:31 a.m Thursday, August 24th
Off for neon tubes: EU derogation ends
In the EU, an exemption for the sale of mercury-containing fluorescent tubes expires this Thursday. According to the EU Commission, lamps of the T5 and T8 type may only be sold over the counter in the future if they come from stocks that have already been produced. The only exceptions are lamps for special purposes, for example in the military sector.
“Suitable alternatives are now available for T5 and T8 tubes, which can lead both to energy savings and to dispensing with the placing on the market of fluorescent lamps containing mercury,” explains a spokeswoman for the EU Commission. That is why it was decided to let the exemption for these products expire. However, use remains permitted.
According to the German Lighting Association, fluorescent tubes are still used today in a number of companies and public facilities, but also in street lighting, garages and cellars. Users now have to think about alternatives as they won’t be able to get replacement bulbs any time soon. The reason for the planned ban of fluorescent lamps from the EU, in addition to the comparatively high energy consumption, is the particular danger of the mercury they contain. “Mercury is a chemical element with neurotoxic effects that poses a high risk to the environment and health,” said the spokeswoman. (dpa)