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SKF to spin off automotive unit, list it on Nasdaq Stockholm

UPDATE 4-SKF to spin off automotive unit, list it on Nasdaq Stockholm Plans to spin off automotive company on Stockholm exchange in 2026 Will retain higher-margin industrial business Split supported by two of its major shareholders Adds context and analyst comments from paragraph 2 By Elviira Luoma and Marie Mannes STOCKHOLM, Sept 17 (Reuters) - Sweden's SKF SKFb.ST plans to split into two separate companies by spinning off its automotive business with a separate stock market listing, with the p
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UBS industry customers increasingly critical, survey finds

UBS industry customers increasingly critical, survey finds By John Revill ZURICH, Sept 16 (Reuters) - Nearly a quarter of Swiss industrial companies are unhappy with the service from UBS UBSG.S , notably in lending, since its 2023 Credit Suisse takeover, a survey found, in a blow to the bank's efforts to show it is not abusing its market dominance.
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Alstom, Siemens, Tesco

EUROPE RESEARCH ROUNDUP-Alstom, Siemens, Tesco Sept 13 (Reuters) - Securities analysts revised their ratings and price targets on several European companies, including Alstom, Siemens and Tesco, on Friday. HIGHLIGHTS * Alstom ALSO.PA : HSBC raises target price to EUR 26 from EUR 24 * Hexagon AB HEXAB.ST : HSBC cuts target price to SEK 110 from SEK 120 * Siemens AG SIEGN.DE : HSBC cuts target price to EUR 140 from EUR 150 * Tesco TSCO.L : Citigroup raises target price to 425p from 350p * Travis P
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Swiss stocks - Factors to watch on September 13

Swiss stocks - Factors to watch on September 13 ZURICH/GDANSK, Sept 13 (Reuters) - Here are some of the main factors that may affect Swiss stocks on Friday: A survey of Swiss banks has highlighted international sanctions imposed on other countries, such as against Russia over Ukraine, as the greatest geopolitical risk to their business. ANALYSTS' VIEWS ABB ABBN.S - HSBC RAISES TARGET PRICE TO CHF 45 FROM CHF 43 ALCON ALCC.S - HSBC CUTS TARGET PRICE TO CHF 89 FROM CHF 91 LONZA LONN.S - HSBC RAISE
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Activist investor Cevian ups stake in Baloise to 9.4%

UPDATE 1-Activist investor Cevian ups stake in Baloise to 9.4% Adds comment from Baloise, further details ZURICH, Sept 9 (Reuters) - Activist investor Cevian Capital has increased its stake in Baloise Holding BALN.S , it said on Monday, increasing its ability to force changes at the Swiss insurer. Cevian now holds around 9.4% in Baloise, the biggest investor in the company.
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Activist investor Cevian ups stake in Baloise to 9.4%

Activist investor Cevian ups stake in Baloise to 9.4% ZURICH, Sept 9 (Reuters) - Activist investor Cevian Capital has increased its stake in Baloise Holding BALN.S , it said on Monday, increasing its ability to force changes at the Swiss insurer. Cevian now holds a position of around 9.4% in Baloise, becoming the biggest investor in the company. The investment is an increase from the 3.12% stake held by Cevian in Baloise revealed earlier this year .
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Activist Cevian presses Swiss insurer Baloise for strategy reset, FT reports

UPDATE 1-Activist Cevian presses Swiss insurer Baloise for strategy reset, FT reports Updates with details paragraph 2 onwards Sept 9 (Reuters) - Activist investor Cevian is pressing for a strategic overhaul at Swiss insurance group Baloise BALN.S after building up a stake of more than 9% in the company, the Financial Times reported on Monday. The activist investor wants the management of the Swiss insurer to refocus on countries where it is strongest and has a high market share, and direct more
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Australia's Westpac names new CEO, moving on from governance crisis

UPDATE 4-Australia's Westpac names new CEO, moving on from governance crisis Writes through with fresh current and former CEO quotes, updated shares By Byron Kaye and Adwitiya Srivastava Sept 9 (Reuters) - Westpac WBC.AX , Australia's second-largest mortgage lender by loans, promoted the head of its business and wealth unit to CEO, vowing to capitalise on improved governance while growing its business lending book.
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India's KEC International hits record high on 14.23 bln-rupee order wins

BUZZ-India's KEC International hits record high on 14.23 bln-rupee order wins ** Shares of KEC International KECL.NS rise as much as 5.3% to a record high of 1040 rupees; last up 4.1% ** Engineering and construction co gets orders worth 14.23 bln rupees ($169.5 mln) to install transmission lines in Saudi Arabia ** KECL on track for fourth straight
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Cummins India well set for buoyant demand after tighter norms, broker says

BUZZ-Cummins India well set for buoyant demand after tighter norms, broker says ** Brokerage Motilal Oswal sees Cummins India CUMM.NS "well positioned" to encash on strong demand of diesel generator sets after tighter emission norms ** CUMM rose as much as ~2% in the day ** Transition to CPCB IV+ emission norms, part of the government's efforts to
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China's robot makers chase Tesla to deliver humanoid workers

China's robot makers chase Tesla to deliver humanoid workers Nearly 30 Chinese companies showed off models in Beijing this week China has called for mass production of humanoid robots by 2025 Tesla plans to deploy 1,000 Optimus robots in factories next year By Qiaoyi Li and Kevin Krolicki BEIJING, Aug 23 (Reuters) - China dominates the market for electric vehicles.
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India economic, corporate events on August 21

DIARY- India economic, corporate events on August 21 BENGALURU, Aug 21 (Reuters) - Diary of India economic, corporate events on August 21. ECONOMIC, CORPORATE .BSE500 EVENTS: Key Speaker Local Time Location India Commerce Minister 0945 Policy think tank Pahle India Foundation event, New Delhi India Commerce Minister 1430 Industry body CII event, Ne
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Norway's Morrow Batteries opens factory, plans first deliveries by year-end

CORRECTED-Norway's Morrow Batteries opens factory, plans first deliveries by year-end Corrects name of CEO in fourth paragraph to Lars Christian Bacher from Christian Bacher By Nora Buli ARENDAL, Norway, Aug 16 (Reuters) - Battery start-up Morrow on Friday opened Norway's first battery cell production site on the country's south coast, with plans to deliver the first units by the end of the year and adding more production step by step.
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ABB India rises on beating Q2 profit estimates

BUZZ-ABB India rises on beating Q2 profit estimates ** Shares of engineering services firm ABB India ABB.NS rise as much as 4% to 8,263.75 rupees ** Co reported June-quarter profit of 4.43 billion rupees ($52.8 mln), beating analysts' estimates of 4.07 bln rupees ** Over 680,000 shares change hands by 10:54 a.m. IST, marking most active trading ses
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Engineering firm ABB India beats Q2 profit view on electrification demand

Engineering firm ABB India beats Q2 profit view on electrification demand BENGALURU, Aug 8 (Reuters) - Engineering services firm ABB India ABB.NS reported a better-than-expected second-quarter profit on Thursday, driven by higher demand for its electrification products. Profit at the Indian arm of Switzerland's ABB ABBN.S rose 50% year-over-year to 4.43 billion rupees ($52.78 million) in the three months ended June 30. Analysts, on average, expected 4.07 billion rupees in profit, according to LS
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Siemens profit beats market view on software but outlook remains guarded

UPDATE 2-Siemens profit beats market view on software but outlook remains guarded Q3 adjusted operating profit 3 bln euros vs forecast 2.8 bln Still sees FY revenue growth at lower end of 4-8% range Shares down 0.5% Add details on demand from paragraph 3, CEO quote in 7, shares in 8, macroeconomic background in 9 By Ludwig Burger FRANKFURT, Aug 8 (Reuters) - Siemens SIEGn.DE beat quarterly earnings forecasts on Thursday, helped by demand for electricity infrastructure and production software, bu
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Siemens quarterly profit beats market view on electrification, software

Siemens quarterly profit beats market view on electrification, software FRANKFURT, Aug 8 (Reuters) - German industrial gear maker Siemens SIEGn.DE posted better-than-expected earnings growth during the April-to-June quarter, buoyed by customers who are upgrading their electricity infrastructure and by demand for production software. For its fiscal third quarter, Siemens on Thursday reported an 11% increase in operating profit before certain items to 3.0 billion euros ($3.3 billion), beating the
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India economic, corporate events on August 8

DIARY- India economic, corporate events on August 8 BENGALURU, Aug 8 (Reuters) - Diary of India economic, corporate events on August 8. ECONOMIC, CORPORATE .BSE500 EVENTS: RIC Local Start Date Local Time Indicator Name Period Reuters Poll Prior INREPO=ECI 8 Aug 2024 10:00 Repo Rate 8 Aug 6.50% 6.50% INRREP=ECI 8 Aug 2024 10:00 Reverse Repo Rate 8 A
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India's Kalpataru Projects International slips on Q1 profit fall

BUZZ-India's Kalpataru Projects International slips on Q1 profit fall ** Shares of Kalpataru Projects International KAPT.NS fall 2% to 1,328 rupees ** Construction and engineering co reported a 19% Y/Y fall in Q1 consolidated net profit as expenses jumped 9.2% ** Analysts covering the stock, on avg, have a "buy" rating vs "hold" on peers KEC Intern
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Olympics-Athletics-Running brand On launches spray-on marathon shoe in bid for Paris spotlight

Olympics-Athletics-Running brand On launches spray-on marathon shoe in bid for Paris spotlight By Helen Reid PARIS, July 25 (Reuters) - Running brand On made its latest move in the supershoe race on the eve of the Paris Olympics, unveiling a marathon shoe produced by a robotic arm spraying material onto a mold to create a sock-like upper, with no laces.
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