ZURICH, Nov 29 The Swiss economy unexpectedly
contracted in the third quarter, hit by weak domestic
consumption and an economic downturn in Germany, its biggest
trading partner, the State Secretariat for Economic Affairs
(SECO) said on Thursday.
ZURICH Buying a second-hand luxury watch on eBay should get easier next year as the company gets better at checking that only genuine timepieces are sold on the online platform.
* Sales slowed in September, but October back to H1 level
CHICAGO/LONDON/ZURICH A trio of billionaire siblings known for inheriting the privately-held packaging giant Tetra Laval have snapped up nearly 20 percent of International Flavors & Fragrances Inc over two years, becoming the company's top shareholder, Reuters has learned.
* Rausing vehicle also holds the top stake in Comet Holding
GENEVA Swiss watchmaker Patek Philippe is seeing good demand across the world, its president told Reuters on Thursday, playing down industry concerns about a potential slowdown in top luxury goods buyer China.
ZURICH Nestle's highly regarded Asia chief Wan Ling Martello is leaving the world's largest packaged food company, taking the shine off the faster sales growth over the last three months.
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.