Corporate

Roche will launch a CHF 100 million ($100.1 million) global network of 21 academic centers focused on cancer immunotherapy R&D, as the it reported in the statement today.

This network, imCORE, brings together many of the world’s leading scientific and clinical experts in cancer immunotherapy to collaborate in investigating the most promising new treatment approaches.

In addition to new treatments, imCORE will work with Roche to develop diagnostic technologies and gather and apply emerging data, Roche said.

EFG International has completed the integration of BSI in Singapore, included client relationships and employees, as it referred in a statement today. EFG International announced its intention to acquire Swiss-based BSI before the scandal surrounding 1MDB caught the public’s eye.

The shares of KTM Industries AG, the Austrian vehicle group, were primary listed today under the “International Reporting Standard” on SIX Swiss Exchange and traded for the first time.

The opening price on SIX Swiss Exchange was CHF 4.90. Based on this price, the market capitalization of the listed shares amounts to CHF 1,104 billion. The issued share capital of KTM Industries comprises 225.386.742 no-par-value ordinary bearer shares. A public offering of the company’s securities has not taken place.

Samsung Electronics announced an $8 billion deal on Monday to buy Harman International Industries, in an all-cash deal that makes Samsung a major player in the world of automotive technology.

The electronics giant previously shunned big acquisitions, and the latest deal underscores a strategic shift as the company tries to break into the high-barrier automotive industry where it has little track record.

As part of the deal, which is subject to approval by Harman shareholders, Harman will remain an independent subsidiary of the technology giant. Samsung will pay $112 a share in cash for Harman, which generated roughly $700 million in net profit on $7 billion of revenue last year.

SFS-Group is acquiring Tegra Medical, a U.S. company based in Franklin, Massachusetts. The St.Gallen-based company, specialist in fastening and assembly systems and the US company agreed not to disclose any details of acquisition price.

The American company produces implants and instruments for orthopedics and non-invasive surgery. It generates annual revenues of $ 80 million and employs 700 people, with production units in the United States and Costa Rica.

Insurer Swiss Life Group reported Wednesday that in the first nine months of 2016, fee income was 974 million Swiss francs, an increase of 2% in local currency from last year.

Group-wide premiums were 13.4 billion francs, down from 14.6 billion francs a year ago. In local currency, this corresponds to a decline of 9%, as the performance of its asset management business improved. Insurance reserves to the benefit of the company’s policyholders rose 2%.

UBS and Credit Suisse send clear signals: cutting costs is the first step, possibly within the year.

Q3 results showed, in fact, that the two banks are still spending too much. UBS saw its revenue shrink losing revenue from the wealthy customers and restless showing on the face of trading. Income, in practice, have fallen faster than the process of reducing the part of the bank charges. Instead Credit Suisse had almost reached the target in 2016, but in the third quarter expenses were up 2%.

Recruitment giant Adecco’s revenues rose 3% year-on-year to €5.8bn, with gross profit also increasing 1% over the period. Group earnings before interest, taxes and amortisation (EBITA) excluding one-offs was down 3%.