Swiss Life significantly increases net profit thanks to operational progress. Swiss Life increased its net profit in the first half of 2010 over the prior-year period from CHF 139 million to CHF 269 million. This improvement is mainly attributable to the significant operational progress made. The Swiss Life Group also grew its gross written premiums, policy fees and deposits received by 20% (in local currency) to CHF 12 241 million. Link: Click Here

Feintool Group: report on 3rd quarter 2009/2010: Order intake has more than doubled. The pleasing results in the third quarter (1 April - 30 June 2010) underline the ongoing positive trend enjoyed by the Feintool Group. The global technology company continues to benefit greatly from the upturn in the key markets for its business areas. At CHF 116.4 million, order intake more than doubled over the previous year's value, while sales rose by 26.8% to CHF 93.8 million. Link: Click Here

The Conzzeta Group increases consolidated net revenues by 4.7% to CHF 473.6 million in the first half of 2010, compared with the same period a year ago. The operating result (EBIT) returned to the profit zone at CHF 13.1 million. The first half of 2010 saw rising demand for industrial products and in the machinery and systems engineering businesses. Developments in the outdoor market and the real estate business remained stable. Link: Click Here

Walter Meier: In the first half of 2010, the climate and manufacturing technology group Walter Meier recorded a decline in net sales as against the comparative period in the previous year of 6.4 percent to CHF 299.1 million. Excluding exchange and consolidation effects, the decline amounts to 5.2 percent. Factoring out the business activities that have been discontinued as a result of last year’s restructuring in North America, net sales have increased by 0.9 percent. Link: Click Here

u-blox, a leading supplier of embedded wireless and global positioning semiconductors and modules, announces the official certification by Rogers Wireless of LEON, u-blox’ miniature GSM/GPRS voice and data module. Rogers is Canada’s largest wireless service provider and largest GSM mobile carrier with over 7 million subscribers. Link: Click Here


Economy
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US housing starts: Still looking for the bottom. This report paints a mixed picture on the state of the housing market; the numbers are not indicative of a further leg down in housing activity, as some had feared, but suggest that the market is still trying to find its feet after the expiration of the homebuyer tax credit in April. Link: Click Here

Strong rebound in US industrial production. Industrial production rose 1.0% in July, above our (0.7%) and the consensus (0.5%) forecast. The core manufacturing component was up 1.1%, also above our forecast (0.8%) and more than offsetting the 0.5% decline in June. The rebound was driven partly by the auto component, which jumped 9.9%, in turn related to the fact that General Motors maintained production at plants they had previously closed for maintenance during July. Link: Click Here

The French government is looking for ways to increase tax receipts. In June 2010, the French government announced some measures to reduce the deficit and comply with its European commitment of bringing it down to 3% of GDP (from our estimate of 7.6% of GDP this year). The measures represent 0.7% of GDP in 2011, and then an additional effort of 0.2% of GDP in 2012 and 2013. Link: Click Here