John Lewis warns It Will Miss Profit Targets This Year
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The High Street has been reeling since the Budget in October when Rachel Reeves announced £40billion of tax hikes - including a £25billion rise in National Insurance - and an inflation-busting increase in the minimum wage.
Investing in our partners remains our key priority and we're increasing Partner pay by £114million this year, that's £295million in the past three years.' A spokesman for the company said: 'No decision has yet been made on the bonus.
Pharma giant Roche said it created planning and legal certainty. If Switzerland's mutual recognition agreement (MRA) with the EU for the sector is ultimately not updated, pharmaceutical products face higher costs, the firm said.
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"This year has been difficult and we're worried there isn't much light at the end of the tunnel," said Jean-Philippe Kohl, vice-director of Swissmem, a tech and engineering lobby which reported a 4.2% drop in sales in the first nine months of 2024.
ZURICH, Dec 23 (Reuters) - Swiss business welcomed a new deal to overhaul the country's relationship with the European Union, bringing Christmas cheer to an economy that is set to be one of Europe's most resilient in a challenging 2025.
"Market access is crucial: European trade is a cornerstone of the Swiss economy," said Samad Sarferaz at the KOF Economic Institute at ETH, a university in Zurich. "The benefits will not be seen immediately, but will be there in the long run."
Corporate lobbies, economists and firms say the agreement unveiled on Friday stabilises relations with the bloc - which accounts for over half of Swiss exports - even if it still faces a difficult ratification process involving a likely referendum.
It will help Switzerland's pharmaceuticals sector, which generates over 50% of Swiss goods exports, get access to the best workers and research, said Georg Daerendinger, spokesman for industry association Interpharma.