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LONDON (AP) — British cellphone company Vodafone confirmed Friday that it is selling its Italian business to Switzerland’s Swisscom for 8 billion euros ($8.7 billion) and will hand back half of the proceeds to its shareholders through the buyback of company shares. Swisscom, a telecoms operator, will pay in cash that it will finance through new debt. "Fastweb and Vodafone Italia are an ideal fit to create high added value for all stakeholders." Swisscom will pay annual initial charges of 350 million euros, which is expected to decrease over time. ”Its refreshed strategy also has seen it seek to merge its U.K. business with Three U.K. to create Britain’s biggest mobile phone network worth around 15 billion pounds ($19 billion).

Persons: Swisscom, Christoph Aeschlimann, Margherita Della Valle, “, ”, Sophie Lund, Yates, stockbrokers Hargreaves Lansdown Organizations: Vodafone, Fastweb, Vodafone Italia Locations: British, Italy, Hungary, Ghana, London, Zurich

☆ Zurich is trying to claw back $200 million after accidentally paying city employees double their salaries
▼ + stars: | 2024-02-28 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +2 min

Read previewThe city of Zurich is trying to recoup roughly 175 million Swiss Francs, about $200 million, after a technical glitch saw all city employees paid double for February, according to local reports. Soon after, the city administration was inundated with calls from puzzled workers, Tages-Anzeiger reported, with some joking that the extra money constituted an adjustment for rampant inflation. AdvertisementPoliticians, too, have received double their fees for attending parliament in February, Tages-Anzeiger reported. All 30,000 employees are being sent a letter with a QR code linking to instructions for returning the money, NZZ reported. "With 30,000 employees, there are many special cases," Claudia Naegeli, a city finance department spokesperson, told the outlet.

Persons: —, Zürcher, NZZ, Claudia Naegeli Organizations: Service, Local, Business, Swisscom, Neue Zürcher Zeitung Locations: Zurich, Local Switzerland, Tages

A pedestrian walks past the TATA pop up store with a poster reading 'The Future is AI' ahead of the World Economic Forum (WEF) in Davos, Switzerland, on Sunday, Jan. 14, 2024. Some of the world's biggest companies are pushing their AI products and services with one declaring: "The future is AI." Companies from U.S. semiconductor firm Intel to Salesforce had AI slogans on the properties they took over. The "AI House" was one of the biggest displays on the Davos Promenade. Arjun Kharpal | CNBCU.S. semiconductor firm Intel took over one of the properties on the Davos Promenade with its AI agenda front and center.

Persons: Salesforce, Arjun Kharpal Organizations: Economic, Bloomberg, Getty, Global, Companies, Intel, CNBC U.S, CNBC Locations: Davos, Switzerland, DAVOS, Swiss

☆ Raymond James says this telecom stock is a strong buy as it enters a new market segment
▼ + stars: | 2023-03-28 | by ( Alex Harring | ) www.cnbc.com time to read: +1 min

Investors should turn their attention toward Ciena as the firm plunges deeper into edge routing, according to Raymond James. He also hiked his price target to $70 from $58 on the stock, implying upside of 44%. Leopold highlighted the firm's potential success from investments in the edge routing sector, as well as continued market expansion and "Huawei displacements." CIEN YTD mountain CIena's plunge into edge routing could be the rocket fuel the firm needs to displace Huawei, according to Raymond James. But Ciena also has the opportunity to significantly displace Huawei, Leopold said, specifically in the optical transport and switching and routing markets.

☆ 'Sell into rallies': Morgan Stanley names the stocks to navigate current European banking jitters
▼ + stars: | 2023-03-27 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

In the wake of recent market volatility and steep share price falls, Morgan Stanley cautioned that the European banking sector is "not as attractive as it was." Morgan Stanley strategists cautioned that although the banking sector is now cheaper, news flow surrounding earnings upgrades and cash return expectations may fade or reverse. On a top-down basis, Morgan Stanley recommended the following overweight-rated (a buy equivalent rating) stocks to navigate this environment with a defensive exposure. Stocks in traditionally defensive sectors, such as health care and utilities, are being recommended by Morgan Stanley. However, Morgan Stanley said the banking sector's problems have shifted this perspective, as the outperformance of European banks has been closely tied to the broader European market.

☆ Move over Ben Franklin: Laser lightning rod electrifies scientists
▼ + stars: | 2023-01-16 | by ( Will Dunham | ) www.reuters.com time to read: +4 min

[1/4] The Laser Lightning Rod, an experimental lighting protection device that diverts the path of lightning bolts using a high-power laser, is seen in action at the top of Mount Santis in Switzerland in this undated photograph. Scientists now are moving to improve on that 18th century innovation with 21st century technology - a system employing a high-powered laser that may revolutionize lightning protection. With further development, this Laser Lightning Rod could safeguard critical infrastructure including power stations, airports, wind farms and launchpads. In experiments during two months in 2021, intense laser pulses - 1,000 times per second - were emitted to redirect lightning strikes. Houard anticipated that 10 to 15 years more work would be needed before the Laser Lightning Rod can enter common use.

☆ Top Swiss court rules against Swisscom in fibre-optic case
▼ + stars: | 2022-11-29 | by ( ) www.reuters.com time to read: +1 min

ZURICH, Nov 29 (Reuters) - Switzerland's highest court has rejected Swisscom's (SCMN.S) appeal over the standards it has to use in expanding fibre-optic networks to consumers, the court said on Tuesday. The Federal Administrative Court had ruled against Swisscom last year, and the Federal Supreme Court upheld that ruling in a verdict released on Tuesday. "The Federal Supreme Court rejects Swisscom's appeal in connection with the precautionary measure imposed by the Competition Commission (WEKO) for the expansion of the fibre-optic network. The decision of the Federal Administrative Court, in which it confirmed the provisional WEKO ban, is not arbitrary," the court said in a statement accompanying the verdict. In a statement following the verdict, Swisscom said it acknowledges the judgement.

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