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Swiss bank UBS announced large profits for 2025, attributing the strong results partly to cost savings from its takeover of Credit Suisse. The bank also stated it expects to cut jobs in the second half of this year. In Austria, Casinos Austria appointed Zadrazil as the new leader of its supervisory board, replacing Hesoun. Other domestic developments included Telekom Austria reporting a two percent decline in its net result for 2025, and the city of Ybbs offering its school center to the federal government due to financial difficulties.
Several major European companies made moves related to the United States. Swiss engineering firm ABB sees growth opportunities there, while Swiss pharmaceutical company Novartis began building a new research center in San Diego. Other Swiss firms faced different US-related issues: watchmaker Swatch rejected proposed changes from a new US activist investor, and Magdalena Martullo-Blocher, who runs the Swiss chemicals company Ems, expressed frustration with Donald Trump's trade policies. Separately, the large food and beverage company Nestlé announced it will sell its ice cream business as part of a broader reorganization plan. In a significant legal ruling, a court decided that Abu Dhabi's sovereign wealth fund Mubadala is entitled to receive over 700 million euros from the bankrupt Austrian real estate giant Signa, founded by René Benko.
6 topics | 99 sources
Swiss bank UBS announced large profits for 2025. The bank said the strong results were partly due to cost savings from its takeover of Credit Suisse. UBS also said it expects to cut jobs in the second half of this year.
Casinos Austria has a new leader for its supervisory board. Zadrazil is replacing Hesoun in the role. In other Austrian business developments, Telekom Austria reported its net result for 2025 fell by 2 percent. Separately, the city of Ybbs has offered its school center to the federal government due to financial difficulties.
14 topics | 124 sources
Feb 10
Several European companies announce new US investments and face challengesSeveral major European companies are making moves related to the United States. Swiss engineering firm ABB says it sees growth opportunities there, and fellow Swiss company Novartis has started building a new research center in San Diego. Other Swiss firms are dealing with different US-related issues. Watchmaker Swatch is facing a new activist investor challenge from the US and has rejected the proposed changes. Separately, Magdalena Martullo-Blocher, who runs the Swiss chemicals company Ems, has expressed frustration with Donald Trump's trade policies.
Feb 19
Nestlé plans to sell its ice cream business as part of a company reorganizationNestlé, the large food and beverage company, has announced it will sell its ice cream business. This move is part of a broader reorganization plan led by the company's CEO, which includes a focus on quickly recalling products when needed.
Feb 10 — Feb 24
Alphabet raises billions in debt by selling bonds in British and Swiss currencies