ZURICH Jean-Claude Biver is dropping his operational responsibilities as the head of LVMH's watch division, he told Reuters over the phone on Thursday, confirming media reports.
ZURICH/BERLIN Switzerland's Clariant and new anchor shareholder Saudi Basic Industries Corp (SABIC) will merge their high-performance materials businesses and install a SABIC manager as head of the group as they strengthen their partnership.
GENEVA Cartier maker Richemont made Jerome Lambert chief executive on Monday, handing the luxury goods veteran the task of continuing to take the group, in particular its watch brands, digital.
ZURICH Swiss watch brand Audemars Piguet wants to totally control the distribution of its luxury watches, cutting out third-party multibrand retailers, within three to five years, its head told Reuters, adding the integration would boost sales.
ZURICH Nestle Chief Executive Mark Schneider said he was convinced the food giant had the right strategy in place to further improve sales and profitability as it seeks to head off criticism from activist shareholder Third Point.
ZURICH Omega watch maker Swatch Group said it expected strong demand in Asia and America to keep driving sales growth this year after first-half net profit bounced back from weak year-ago levels.
BERN President Hassan Rouhani appeared on Tuesday to threaten to disrupt oil shipments from neighboring countries if Washington presses ahead with its goal of forcing all countries to stop buying Iranian oil.
BERN The Swiss National Bank sees no reason to start normalizing its ultra-loose monetary policy, it said on Thursday, citing rising political uncertainties which could trigger renewed demand for the safe-haven Swiss franc.
ZURICH Luxury goods group Richemont will focus on doing more M&A deals to reshape its business after reporting lower than expected full-year results, which included a 203 million euro buy back of watch inventories.
VEVEY, Switzerland Nestle will make further cuts to the amount of sugar, salt and saturated fats in its products as it tries to improve the image of packaged foods in the eyes of health-conscious consumers, the Swiss group said on Tuesday. Nestle and its rivals are under pressure from a shift in consumer preferences toward healthier food and away from processed products such as instant noodles and frozen pizza.