Corporate

SBB says it has developed its 2020 strategy in consultation with customers, employees, partners and policymakers in order to adapt the railway to a rapidly changing world characterised by new customer requirements, digitalisation, new transport providers and regulatory developments. Mobility is undergoing profound and extensive change and other modes of transport are catching up with trains in terms of price and environmental advantage, the Federal Railways acknowledged on Monday.

PSA Group is discussing a potential acquisition of rival European carmaker Opel from General Motors, a spokesman for the French automaker said on Tuesday.

"PSA confirms that it is exploring a number of strategic initiatives with GM with the aim of increasing its profitability and operating efficiency, including a potential acquisition of Opel," company spokesman Bertrand Blaise said.

Credit Suisse has reported a net loss of 2.347 billion Swiss francs ($2.337 billion) for the fourth quarter of 2016 as the bank felt the impact of a $5.28 billion fine from the U.S. Department of Justice.

The fine in December stems from the bank’s sale of toxic mortgage assets in the lead up to the 2008 global financial crisis and brings an end to a "major source of uncertainty" for the bank, according to Chief Executive Tidjane Thiam. It said Tuesday it recorded a provision of approximately $2 billion during the fourth quarter of 2016 for this penalty, in addition to existing provisions of $550 million in prior periods.

Twitter on Thursday beat analysts’ expectations for earnings per share in its fourth quarter before the opening bell, but missed revenue estimates, prompting a steep fall in its stock price in pre-market trading.

The San Francisco-based company, led by CEO Jack Dorsey, reported adjusted earnings of 16 cents per share on revenue of $717 million, up from a year-earlier $710.5 million.

Zurich Insurance on Thursday posted a 74% jump in full-year net earnings as its core general insurance business rebounded under new chief
executive Mario Greco.
The Swiss insurer increased net profit for the year to $3.211 billion, just short of the average estimate of $3.315 billion in a Reuters poll of 11 analysts. Fourth quarter profit climbed to $685 million, after a $424 million loss in the same quarter the previous year.

Lastminute.com strengthens its presence in Italy by signing agreement with Travel Holding to acquire Gartour, an italian leading incoming tour operator. The latter, according to the agreements made by the parties, will continue its activities under a renewable contract of lease for a period of twelve months, before passing definitively under Lastminute.com. Gartour currently employs about 130 people for a turnover of €35 million in 2016.

Swiss pesticides and seeds group Syngenta reported 2016 earnings before interest, tax, depreciation and amortisation (EBITDA) of $2.66 billion on sales of $12.79 billion.
Analysts polled by Reuters had on average expected EBITDA to fall 5.9 percent to $2.61 billion on sales down 4.2 percent to $12.85 billion. They had expected it to boost its dividend to 11.60 Swiss francs from 11.00

The Swiss manufacturer Oerlikon Metco plans to spend $62 million (CHF55 mln) to open a facility in Huntersville, where it will create 93 high-paying jobs over the next five years, it said Monday.

The new plant will specialize in end-to-end advanced component manufacturing, and it will also house research and development work, according to a statement from the company Monday.

Oerlikon’s Charlotte plant will be its first additive manufacturing facility in the U.S. and will provide end-to-end advanced component manufacturing and house extensive research and development and production teams.