Nick Hayek, CEO of Swatch Group, at the Swatch ETA factory in Grenchen, Switzerland, in 2023.
Bloomberg | Bloomberg | Getty Images
Swatch Group reported a 14.3% decrease in net sales at current exchange rates during the first half of 2024, the company said on Monday.
The maker of Tissot, Longines and Omega watches, as well as the eponymous plastic Swatch watches, said sales dropped to 3.445 billion Swiss francs ($3.85 billion) in the six months to the end of June.
Family offices are set to grow at a rapid pace as the ultra-rich look for personalized services to handle their wealth. But they are struggling to find money managers. As of last September, there were 8,030 family offices globally managing $3.1 trillion in assets, according to Deloitte’s recent statistics. By 2030, the number of […]
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A Samsung Group flag flutters in front of the company’s Seocho building in Seoul. Sopa Images | Lightrocket | Getty Images Samsung Electronics on Wednesday announced that it would acquire all shares of German-based FläktGroup, a leading heating and cooling solutions provider, for 1.5 billion euros ($1.68 billion) from European investment firm Triton. Samsung said […]
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People shop at a grocery store in Brooklyn on May 13, 2025 in New York City. Spencer Platt | Getty Images The U.S. Federal Reserve at its May 7 meeting warned that America is facing an increased risk of stagflation — a scenario in which the economy slows or contracts while inflation shoots up — […]
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