Saturday, March 8, 2014

Summary of the day - Economy

Nestlé reduced its stake in the world's number one cosmetics, French L'Oréal. Vaud food giant the back of 29.4 % to 23.29% as part of a transaction involving 6.5 billion euros ( nearly $ 8 billion) . Speculation about the future of Nestlé's participation in L'Oréal, 40 years old , were rife for weeks. The ax fell Tuesday after the publication by the French group a further increase in net profit and sales in 2013.

PHARMA : Despite the difficult market conditions in the United States , Actelion saw its net profit jump 49% year on year to 453 million francs in 2013. Confident after launching Opsumit successor to its blockbuster drug Tracleer , the Basel biotech group raised its outlook for 2014. Sales of Basel laboratory are they , expanded from 4% to 1.78 billion francs. Expressed at constant exchange rates , growth was 6% despite the negative impact of the strong franc and pressure on prices in Europe.

REAL ESTATE : Real estate transactions declined in 2012 , said the Cantonal Office of Statistics ( OCSTAT ) . The number of transactions on single-family homes was the lowest since 1996 and the lowest land since 1992. The 1945 real estate transactions recorded in 2012 represent a total of 4.5 billion francs. If the total value of transactions is similar to that of 2011 , the number of folds . The apartments for sale and Villas are the objects most frequently traded . They grouped 81% of transactions and 60 % of their value .

CONFLICT TAX: A former UBS banker intends to plead guilty in his trial before a court in Fort Lauderdale, in the U.S. state of Florida. Justice of the United States accuses Martin Lack of helping U.S. citizens to hide money from the IRS. Documents sent last week , however, not reveal the points on which the accused intends to plead guilty. A hearing is agendée 26 February.

INDUSTRIAL EQUIPMENT : The St. Gallen manufacturer of industrial equipment Bühler saw earnings decline by 20.9% last year to 123 million francs. Sales , already published in late January, was down 3.6% compared to 2012 , to 2.32 billion francs. The decline in revenue is relative, however . He had indeed jumped 13% in 2012 compared to the previous year.

AIR TRANSPORT : Swiss has slightly increased its passenger numbers in January. The airline controlled by the German Lufthansa Group welcomed last month to 1.14 million passengers in its devices, an increase of 0.3% yoy . At the same time , the number of flights has however declined by 2.4 % to 11'883 . The company also had its best fulfilled . The occupancy rate , an important indicator for the industry , rose 0.3 points to 77.6% for all flights .

MATERIALS : Glencore Xstrata has significantly increased its production of copper last year. The Zug giant raw materials extracted no less than 1.49 million tonnes , 26 % more than the year before . In its production report for the fiscal year 2013, the world's leading commodity notes that copper extraction is a reference activity . Multinational based in Baar has further strengthened this segment thanks to its merger in May with its neighbor, the mining group Xstrata .

INDUSTRY: Daetwyler separates its business trading, manufacturing and services grouped within the Maagtechnig sector. The Uri industrial conglomerate sold the unit for an undisclosed sum in Dutch society Eriks . The company based in Altdorf motivates the sale by its desire to refocus the division of technical components (Technical Components) on distribution activities , which generate higher income. Daetwyler added that the segment's operating margin is lower than those of competitors.

HOTEL : The Fribourg holding AEVIS raised its tender offer (OPA ) on the Victoria -Jungfrau luxury hotel group Bernese Collection ( DCV) . It now offers 310 francs by VJC title , against 305 francs before, and thus on the same level as the supply of Swiss Private Hotel . AEVIS , including the umbrella group of private clinics Genolier ( GSMN) , also acquired the 15.6 % stake in the hotel group Terramaris established in Interlaken. With participation increased to 29.16 % AEVIS becomes the largest shareholder of VJC .

CHEMISTRY : The Basel chemical group Clariant sells its water treatment in Africa in South African society AECI . The agreement relates to a sale price of 34 million francs in cash , and should be finalized by the end of the second quarter, he said. Activities offered for sale in 2013 have reached a turnover of some 41 million francs. A total of 210 employees in Africa are affected by this transaction.

BIOTECH : Basilea has significantly reduced its loss in 2013. She came to CHF 33 million , against 53 million a year earlier . At the end of the year, cash and other financial resources of the biotechnology laboratory in Basel were part 273.9 million , 70.1 fewer than in 2012. The operating loss also decreased to 33 million against 50.8 million in 2012. Its revenues for its part registered 41.4 million francs, against 58.9 million in 2012. This decrease was partly due to an agreement with the company Stiefel for treatment.

FED: The new President of the Central Bank of the United States ( Fed ), Janet Yellen , defended Tuesday " continuity " of monetary support the U.S. economy , noting that the recovery in the labor market remained " incomplete ." " I expect a great deal of continuity in the approach to monetary policy," she said before a U.S. congressional committee in its first report to the head of the Fed.

BANK : Back in the green last year , the British banking giant Barclays will have to cut its workforce in the sickle while spoiling its star bankers. It is thus immediately attracted strong criticism. Antony Jenkins, the CEO of the bank shaken by a series of scandals including the manipulation of Libor interbank rate in 2012, said Tuesday the elimination of 10,000 to 12,000 additional jobs this year. Of these, 7,000 positions will disappear in Britain .

ECONOMIC FORECAST : The OECD acknowledged underestimating the magnitude of the economic crisis between 2007 and 2012 , and suggests ways to improve its forecasts in the future. In a report it calls " post mortem " on the crisis , the Organization for Economic Cooperation and Development , the growth forecasts are among the most followed in the world, for example, writes that " when the financial crisis broke , the forecasts have been revised downwards systematically and fast. However, actual growth rates have still been significantly lower than expected . "

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