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Search resuls for: "Silke Koltrowitz"


11 mentions found


☆ Redefine Meat strikes partnership to boost 3D-printed meat sales in Europe
  + stars: | 2022-10-13 | by ( Silke Koltrowitz Lee Marzel | Silke Koltrowitz | Lee Marzel | ) www.reuters.com   time to read: +3 min
REUTERS/Amir CohenTEL AVIV/ZURICH, Oct 13 (Reuters) - Israel's Redefine Meat has struck a partnership with importer Giraudi Meats to drive European distribution of its "New Meat" steak cuts produced on 3D printers, it said on Thursday. Early hype about plant-based meat alternatives, seen as better for animals and the environment, has ebbed as inflation and recession worries make some consumers return to cheaper animal meat products, while staffing shortages have hit fast-food chains, an important sales channel for plant-based burger patties. Redefine Meat, which makes its products from ingredients including soy and pea proteins, chickpeas, beetroot, nutritional yeasts and coconut fat, has ambitious plans. Ben-Shitrit said Redefine Meat was launching tenderloin and striploin steaks and their adoption by chefs in expensive restaurants proved their quality. Its New Meat is currently available in Israel, Britain, the Netherlands and Germany in almost 1,000 restaurants that are currently paying about $40 per kilo for Redefine Meat's steak cuts, Ben-Shitrit said.
☆ Givaudan's quarterly growth slows on North America weakness, shares fall
  + stars: | 2022-10-11 | by ( Silke Koltrowitz | ) www.reuters.com   time to read: +2 min
An employee mixes liquid fragrances in a bottle in a laboratory of Swiss flavours and fragrances maker Givaudan in the town of Duebendorf, Switzerland November 5, 2015. Group sales rose 6.1% on a like-for-like basis and 7.7% in Swiss francs, reaching 5.458 billion Swiss francs ($5.45 billion) in the first nine months of 2022. However, sales in the group's taste and wellbeing unit that makes flavours for food and drinks fell 2.8% in North America, implying an even stronger slowdown in the third quarter. Givaudan's shares, down almost 37% so far this year, were 6.4% lower at 0801 GMT. Givaudan confirmed its mid-term target of 4-5% average organic sales growth per year on a like-for-like basis.
☆ Givaudan on track to offset higher input costs as sales rise
  + stars: | 2022-10-11 | by ( ) www.reuters.com   time to read: +2 min
REUTERS/Arnd WiegmannZURICH, Oct 11 (Reuters) - Swiss fragrance and flavour maker Givaudan (GIVN.S) said on Tuesday it was on track to implement price increases to offset higher input costs after like-for-like sales rose 6.1% in the first nine months of 2022. Sales were up 6.1% on a like-for-like basis and 7.7% in Swiss francs, reaching 5.458 billion Swiss francs ($5.45 billion) in the nine-month period, the Geneva-based company said. Register now for FREE unlimited access to Reuters.com RegisterSales in Givaudan's fragrance and beauty business rose 5.8% at 2.489 billion francs, helped by almost 15% higher fine fragrance sales, Givaudan said. Sales in its taste and wellbeing unit increased by 6.4% to 2.969 billion francs despite a hit from COVID-19 measures in China, the company said. Givaudan confirmed its mid-term target of 4-5% average organic sales growth per year on a like-for-like basis.
☆ Nestle CEO: I'm not a 'mega deal' maker
  + stars: | 2022-09-29 | by ( ) www.reuters.com   time to read: +1 min
ZURICH, Sept 29 (Reuters) - Food group Nestle is in no hurry to acquire companies given rich valuations and will stick to its traditionally cautious approach to deals, its chief executive told a conference on Thursday. "I've done hundreds of deals in my life, the largest one ever was Starbucks at 7 billion so I'm not a 'mega deal' maker," Mark Schneider said in a discussion organised by Bernstein. The maker of KitKat chocolate bars and Nespresso portioned coffee has been adjusting its portfolio under Schneider's leadership, gearing it more towards high-margin premium products. Register now for FREE unlimited access to Reuters.com Register"I'm a strong believer in that statement by former U.S. President Obama: don't do stupid stuff. Register now for FREE unlimited access to Reuters.com RegisterReporting by Silke Koltrowitz; Editing by Michael ShieldsOur Standards: The Thomson Reuters Trust Principles.
☆ JP Morgan Swiss head Bossart moves to Rothschild & Co
  + stars: | 2022-09-29 | by ( Oliver Hirt | ) www.reuters.com   time to read: +2 min
ZURICH, Sept 29 (Reuters) - U.S. investment bank JP Morgan's head of Switzerland, Nick Bossart, is moving to Rothschild & Co (ROTH.PA) to lead its Swiss advisory business for mergers and capital market transactions, two people familiar with the situation told Reuters. With Bossart, the French investment bank wants to expand its market share in Switzerland. During this time, he made JP Morgan the third-largest investment bank in Switzerland after Credit Suisse (CSGN.S) and UBS (UBSG.S). Before joining JP Morgan, he worked at Deutsche Bank (DBKGn.DE) and UBS. JP Morgan had said in July that Bossart was leaving and would be replaced by Reinout Böttcher.
☆ Credit Suisse loses top executives Welter and McCarthy
  + stars: | 2022-09-27 | by ( Silke Koltrowitz | ) www.reuters.com   time to read: +2 min
ZURICH, Sept 27 (Reuters) - Credit Suisse (CSGN.S) announced the departure of two senior executives, global co-head of banking Jens Welter and global head of global credit products Daniel McCarthy, in memos seen by Reuters, in a blow to the Swiss bank as it gets ready for a major restructuring. Shaken by a string of scandals and losses, Switzerland's second-largest bank is currently preparing a strategy review including a radical overhaul of its investment bank. read moreThe bank said that Welter, its global co-head of banking and EMEA co-head of investment banking and capital markets (IBCM), had decided to leave the bank. Rival Citigroup said in a Tuesday statement that Welter was joining it in December as co-head of EMEA Banking, Capital Markets and Advisory, after 27 years at Credit Suisse. Reuters reported last week that Credit Suisse is sounding out investors for fresh cash as it attempts an overhaul of its investment bank.
☆ Credit Suisse co-head of global banking Welter to join Citigroup
  + stars: | 2022-09-27 | by ( ) www.reuters.com   time to read: +1 min
ZURICH, Sept 27 (Reuters) - Credit Suisse's (CSGN.S) global co-head of banking and EMEA co-head of investment banking and capital markets Jens Welter is leaving to join Citigroup , in a blow to the Swiss bank as it prepares for a major restructuring. Veteran Credit Suisse banker Welter, who was appointed to the role at Switzerland's second-largest lender in January, will join Citi in December as its co-head of EMEA Banking, Capital Markets and Advisory, Citigroup said in a statement on Tuesday. Credit Suisse, which is due to reveal details of its strategy review on Oct. 27, was not immediately available for comment. read moreReuters reported last week that Credit Suisse is sounding out investors for fresh cash as it attempts a radical overhaul of its investment bank. read moreRegister now for FREE unlimited access to Reuters.com RegisterReporting by Silke Koltrowitz and Oliver Hirt; Editing by Alexander SmithOur Standards: The Thomson Reuters Trust Principles.
☆ Swiss National Bank exits negative rates era with 0.75% hike
  + stars: | 2022-09-22 | by ( John Revill Silke Koltrowitz | John Revill | Silke Koltrowitz | ) www.reuters.com   time to read: +5 min
The building of the Swiss National Bank (SNB) is pictured in Bern, Switzerland June 16, 2022. The increase to 0.5%, from minus 0.25%, followed a 50 basis point hike in June from minus 0.75%, the SNB's first rate hike in 15 years. The SNB originally imposed negative rates in December 2014 and lowered them again in January 2015 to minus 0.75%. Negative rates were unpopular among Swiss banks, who saw them as a charge on their activities and also reduced lending margins. The Swiss Bankers Association said negative rates meant the country's lenders had borne the brunt of the fight against the appreciating franc.
☆ UBS to eliminate account balance fees from Oct 1 after SNB hike
  + stars: | 2022-09-22 | by ( ) www.reuters.com   time to read: 1 min
Register now for FREE unlimited access to Reuters.com RegisterThe logo of Swiss bank UBS is seen at a branch office in Zurich, Switzerland, January 27, 2017. REUTERS/Arnd WiegmannZURICH, Sept 22 (Reuters) - UBS Group (UBSG.S) will eliminate from Oct. 1 the fee it charged on accounts by private and corporate clients to offset negative interest rates after the Swiss National Bank raised its policy rate into positive territory on Thursday, the bank said. Credit Suisse (CSGN.S) said in an emailed statement it would keep monitoring the market situation and could soon adjust rate conditions, but had stopped charging private clients negative interest rates from July 1. Register now for FREE unlimited access to Reuters.com RegisterReporting by Oliver Hirt, Writing by Michael Shields, editing by Silke KoltrowitzOur Standards: The Thomson Reuters Trust Principles.
☆ SNB to use SNB bills and repo transactions to absorb liquidity - Maechler
  + stars: | 2022-09-22 | by ( ) www.reuters.com   time to read: 1 min
The Swiss National Bank (SNB) logo is pictured on its building in Bern, Switzerland June 16, 2022. REUTERS/Arnd WiegmannZURICH, Sept 22 (Reuters) - The Swiss National Bank is going to use SNB bills and repo transactions to absorb liquidity in order to ensure short-term money market rates remain close to the now positive policy rate, governing board member Andrea Maechler said on Thursday. "We are adjusting our implementation approach," said Maechler in comments prepared for a speech she was due to give after the SNB announced a rate hike, adding the new approach consisted in absorbing liquidity via open market operations and a tiered remuneration of sight deposits banks hold at the SNB. Register now for FREE unlimited access to Reuters.com RegisterReporting by Silke Koltrowitz; Editing by Michael ShieldsOur Standards: The Thomson Reuters Trust Principles.
☆ German investor Kuehne boosts stake in Lufthansa to 10%
  + stars: | 2022-04-11 | by ( ) www.reuters.com   time to read: +1 min
ZURICH, April 11 (Reuters) - German logistics entrepreneur Klaus-Michael Kuehne has increased his stake in Germany's flag carrier Lufthansa (LHAG.DE) to 10%, Kuehne Holding AG said in a statement on Monday. Kuehne, 84, had earlier boosted his stake in Lufthansa to 5% about a month ago, becoming the airline's second-biggest shareholder behind the German government, according to Refinitiv data. Kuehne Holding AG has acquired a stake of 10% in Deutsche Lufthansa AG on the market via a wholly owned German subsidiary, the holding company owned by Klaus-Michael Kuehne said. "The investment in Deutsche Lufthansa represents an excellent rounding off of the existing portfolio, in which logistical knowhow is bundled through various independent holdings," Kuehne was quoted as saying in the statement. The German billionaire is also the controlling shareholder of Swiss logistics firm Kuehne & Nagel (KNIN.S) and has a 30% stake in container shipping company Hapag-Lloyd AG (HLAG.DE).
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