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Joe Hogan - 1 Hogan - 1 Pratik Jain - 1 Anil D'Silva - 1
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Bengaluru
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Envista Holdings Corp - 1 Swiss - 1 Straumann - 1 Thomson - 1

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5 mentions found


☆ Align Technology cuts annual sales forecast, cites macro-economic pressures
  + stars: | 2023-10-25 | by ( ) www.reuters.com   time to read: +2 min
Oct 25 (Reuters) - Align Technology (ALGN.O) lowered its full-year revenue forecast on Wednesday, hurt by weak demand for its clear teeth aligners, sending its shares down 21% in extended trading. The dental company now expects revenue in the range of $3.83 billion to $3.85 billion for 2023, compared with its previous forecast of $3.97 billion to $3.99 billion. Align's lead product segment, which sells a series of custom-made aligners and other consumables used for straightening teeth, reported revenue of $794.9 million, below estimates of $821.9 million. On an adjusted basis, Align earned $2.14 per share for the three months ended Sept. 30, below analysts' average estimate of $2.26 per share, according to LSEG data. Reporting by Pratik Jain in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.
Persons: Joe Hogan, Hogan, Pratik Jain, Anil D'Silva Organizations: Envista Holdings Corp, Swiss, Straumann, Thomson Locations: Bengaluru
☆ Zurich bank looks to capitalise on Credit Suisse's demise
  + stars: | 2023-03-27 | by ( Noele Illien | ) www.reuters.com   time to read: +3 min
"There is a chance that the situation might accelerate our existing plans," he added, and suggested the bank would be open to looking into purchasing businesses from Credit Suisse, should they become available. "We want to grow and we have stated that we are open to looking at external growth as well, regardless of the situation of Credit Suisse," Baumann said. The Canton of Zurich is liable under the state guarantee for any ZKB liabilities which the bank cannot cover in the event of trouble. Deposits in Swiss bank accounts are usually only protected up to 100,000 Swiss francs. ($1 = 0.9190 Swiss francs)($1 = 0.9168 Swiss francs)($1 = 0.9160 Swiss francs)($1 = 0.9164 Swiss francs)Reporting by Noele IllienOur Standards: The Thomson Reuters Trust Principles.
☆ Switzerland wakes to new era after historic bank merger; employees 'shocked'
  + stars: | 2023-03-20 | by ( Tom Sims John Revill | Tom Sims | John Revill | ) www.reuters.com   time to read: +4 min
Reuters Graphics Reuters GraphicsThe Swiss Bank Employees Association, in a statement to Reuters, demanded that UBS keep job cuts to an "absolute minimum". The statement underscores the sense of unease in Switzerland, with its reputation as a global financial center on the line. Green Party lawmaker Gerhard Andrey said that Credit Suisse is "such a visible institute". "A few months ago, nobody would have thought that Credit Suisse would fail. "But also that we are upholding the reputation of the Swiss financial centre."
☆ The small European nation of Switzerland beat sky-high inflation. Here's how
  + stars: | 2023-02-27 | by ( Karen Gilchrist | ) www.cnbc.com   time to read: +8 min
watch nowZURICH — As many countries across the globe battle stubbornly high inflation, the rise in prices has been far less dramatic in Switzerland, a small mountainous nation in western Europe. The stability of the Swiss francAnother reason for Switzerland's relative price stability stems from the strong Swiss franc. While many currencies plunged against an appreciating U.S. dollar, the Swiss franc held steady amid volatility in Europe. The Swiss franc is heavily backed by large reserve of gold, bonds and financial assets, which help the Swiss National Bank ensure the currency's stability during times of volatility. A stronger Swiss franc provides an effective discount on those imports.
☆ Inflation is thrashing countries all around the world. But not Switzerland
  + stars: | 2023-02-27 | by ( Karen Gilchrist | ) www.cnbc.com   time to read: 1 min
As many countries across the globe battle sky-high inflation, Switzerland's economy is seeing something far less dramatic. Inflation in Switzerland hit a 29-year high of 3.5% in 2022. While high by Swiss standards, that figure is well below the double-digit inflation of comparable economies including the United States (9.1%), United Kingdom (11.1%) and euro zone (10.6%). "It's coming down a little bit," Tobias Straumann, professor of modern and economic history at the University of Zurich, told CNBC. So, what is it about the Swiss economy that's allowed it to largely sidestep inflation, and what can other countries learn from it?
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