Sonova strengthens the Unitron brand and reviews middle ear implant activities. Sonova Holding AG, the world’s leading provider of hearing systems, announces today the internal transfer of Sona’s activities into Unitron Hearing. This transfer will enhance the Unitron product portfolio and will support Unitron’s overall positioning. The Group also announces a change in Unitron’s senior management. Regarding its middle ear implant research project Sonova is considering the closure of the Phonak Acoustic Implants facility in Lonay, Switzerland. Link: Click Here
 

The Tecan Group (SIX Swiss Exchange: TECN) today issued an update regarding an OEM development project (project name used externally: P14) signed with a global diagnostics company in November 2010. The agreement covers the development and supply of a dedicated diagnostics instrument. Tecan had expected to ship the first instruments to the diagnostics company in late 2012. Tecan now anticipates that supply be delayed. Link: Click Here

Zurich Financial Services Group (Zurich) today announced it has completed the acquisition of 100% of the share capital of Malaysian Assurance Alliance Berhad (MAAB), a Malaysian composite insurer. The acquisition of MAAB is another milestone in Zurich’s emerging-market strategy. Link: Click Here

Georg Fischer: Changes on the Board of Directors. At the Annual General Meeting of March 21, 2012, Martin Huber, Chairman of the Board of Directors, and Bruno Hug, Vice Chairman, will step down as Directors of Georg Fischer Ltd on reaching the official retirement age. The new Chairman will be Andreas Koopmann, while Gerold Bührer will become Vice Chairman. The Board of Directors will, in addition, propose two new members for election: Isabelle Welton (Switzerland) and Roger Michaelis (Brazil). Link: Click Here

Roche (SIX: RO, ROG; OTCQX: RHHBY) announced today that it has been awarded an exclusive contract by Karolinska University Hospital in Stockholm, Sweden, to provide a diagnostic tool for primary screening of Human Papillomavirus (HPV) in Swedish women. This is the first major public tender in Europe to screen women using Roche’s HPV test for high risk virus types which potentially can cause cervical cancer. Link: Click Here

Alpiq: Change of management. Giovanni Leonardi has decided to step down from his function as CEO of Alpiq. The Board of Directors has appointed its Chairman, Hans E. Schweickardt, as CEO ad interim. During the transition period the Board of Directors has appointed its Vice Chairman, Christian Wanner, to serve as Lead Director. Hans E. Schweickardt will consistently drive forward the programme launched in July 2011 with a view to focussing on the core business, improving earning power and enhancing the Group's financial scope. Link: Click Here

 

Economy
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German unemployment fell a very strong 26k m/m (sa) in September, down 231k y/y, following -9k m/m in August and -10k m/m in both June and July. The outcome is actually much better than the market's forecast of a 10k m/m fall and BarCap's forecast of a 5k m/m drop. The FLO attributes the favourable development to ongoing strong growth of the German economy and the effects of labour market reforms made in the past, allowing the (longer-term) unemployed to obtain jobs more easily. Link: Click Here

UK lending to individuals sees another subdued month. Bank of England data on lending to individuals showed credit flows to the household sector continued to be weak in August. Consumer credit rose by £0.5bn (BarCap £0.1bn, consensus £0.2bn), while net mortgage lending was £0.6bn (BarCap: £0.6bn, consensus £0.8bn). The number of mortgage approvals rose to 52.4k from 49.6k in July, slightly better than market expectations (BarCap 51.4k, consensus 49.7k). M4 money supply fell by 0.2% m/m after reporting no growth the previous month. Link: Click Here

German Bundestag approves changes in the EFSF. The Bundestag approved the augmented EFSF framework with a clear majority (523 votes in support, 85 votes against, and 3 delegates abstaining). The approval was widely expected and is a key step towards putting into force the expanded powers of the EFSF. Link: Click Here

UK consumer confidence edges upwards. The GfK/NOP Consumer Confidence Index, which is compiled on behalf of the European Commission, rose to -30 in September from -31 in August (consensus: -33; BarCap: -32). Despite the increase being only marginal, it brings to an end the downward trend in confidence that started in May. Link: Click Here