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US says trade talks with Swiss ‘very positive’

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November 14, 2025

A senior US official sounded a positive note Thursday about trade talks with Switzerland, as the Alpine nation’s economy minister Guy Parmelin visited Washington hoping to reduce steep tariffs imposed by President Donald Trump.

AFP

Vice President Parmelin’s visit to the US capital marks his third since the Swiss were clobbered with huge tariffs after Trump returned to the presidency.

Trump shocked Switzerland in August when he imposed 39-percent duties on imports of goods from the country, among the highest in his global tariff blitz.

Parmelin met with US Trade Representative Jamieson Greer during his trip, as Bern clings to hopes of easing the whopping tariff level.

“The talks are very positive. They’re very focused,” a senior Trump administration official told reporters Thursday.

“If this deal is accepted by the president and the Swiss people, we would see a reduction in tariffs into Switzerland,” the US official said.

While the country has fairly low tariffs already, there are some areas where levels are still high, the official added, noting that they expect to see “a meaningful reduction.”

The wealthy European nation has been striving to negotiate a better deal, and has slashed its 2026 growth forecast as US tariffs weigh on its export-driven economy.

On Monday evening, Bloomberg News reported that Switzerland was close to an agreement on reducing tariffs to 15 percent — the same level as those applied to goods from the European Union, citing unnamed sources familiar with the matter.

The Swiss economy ministry told AFP that Parmelin was in Washington “to continue discussions”, but said it would not be providing further details.

In early August, Parmelin and Swiss President Karin Keller-Sutter, who is also the finance minister, made an emergency trip to Washington to try to sway the White House, but returned empty-handed.

Parmelin made a second trip in September.

Last week, the heads of six top Swiss firms, including the chiefs of watchmaker Rolex and luxury goods giant Richemont, met with Trump to draw his attention to the toll his tariffs are taking on their companies.

The tariff rate jeopardises entire sectors of the export-heavy Swiss economy, notably watchmaking and industrial machinery, but also chocolate and cheese.

The pharmaceutical industry, Switzerland’s largest export sector, could be living on borrowed time: medications are exempt from tariffs, but Trump regularly threatens to target them too.

Besides their own tariff rate impacting the viability of exports to the United States, Swiss businesses also worry that competitors in other wealthy economies will have an edge.

The EU and Japan have negotiated a 15-percent tariff, and Britain secured a rate of 10 percent.

Copyright © 2025 AFP. All rights reserved. All information displayed in this section (dispatches, photographs, logos) are protected by intellectual property rights owned by Agence France-Presse. As a consequence you may not copy, reproduce, modify, transmit, publish, display or in any way commercially exploit any of the contents of this section without the prior written consent of Agence France-Presses.



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Cosmetics giant Unilever finalises business demerger

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December 5, 2025

The demerger of Unilever‘s ice cream division, to be named ‘The Magnum Ice Cream Company,’ which had been delayed in recent months by the US government shutdown, will finally go ahead on Saturday, the British group announced.

Reuters

Unilever said in a statement on Friday that the admission of the new entity’s shares to listing and trading in Amsterdam, London, and New York, as well as the commencement of trading… is expected to take place on Monday, December 8.

The longest federal government shutdown in US history, from October 1 to November 12, fully or partially affected many parts of the federal government, including the securities regulator, after weeks without an agreement between Donald Trump‘s Republicans and the Democratic opposition.

Unilever, which had previously aimed to complete the demerger by mid-November, warned in October that the US securities regulator (SEC) was “not in a position to declare effective” the registration of the new company’s shares. However, the group said it was “determined to implement in 2025” the separation of a division that also includes the Ben & Jerry’s and Cornetto brands, and which will have its primary listing in Amsterdam.

“The registration statement” for the shares in the US “became effective on Thursday, December 4,” Unilever said in its statement. Known for Dove soaps, Axe deodorants and Knorr soups, the group reported a slight decline in third-quarter sales at the end of October, but beat market expectations.

Under pressure from investors, including the activist fund Trian of US billionaire Nelson Peltz, to improve performance, the group last year unveiled a strategic plan to focus on 30 power brands. It then announced the demerger of its ice cream division and, to boost margins, launched a cost-saving plan involving 7,500 job cuts, nearly 6% of the workforce. Unilever’s shares on the London Stock Exchange were steady on Friday shortly after the market opened, at 4,429 pence.
 

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Copyright © 2025 AFP. All rights reserved. All information displayed in this section (dispatches, photographs, logos) are protected by intellectual property rights owned by Agence France-Presse. As a consequence you may not copy, reproduce, modify, transmit, publish, display or in any way commercially exploit any of the contents of this section without the prior written consent of Agence France-Presses.



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Burberry elevates two SVPs to supply chain and customer exec roles

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December 5, 2025

Burberry has named a new chief operating and supply chain officer as well as a new chief customer officer. They’re both key roles at the recovering luxury giant and both are being promoted from within.

Burberry – Spring-Summer2026 – Womenswear – Royaume-Uni – Londres – ©Launchmetrics/spotlight

Matteo Calonaci becomes chief operating and supply chain officer, moving from his role as senior vice-president of strategy and transformation at the firm. 

In his new role, he’ll be oversee supply chain and planning, strategy and transformation, and data and analytics. He succeeds Klaus Bierbrauer, who’s currently Burberry supply chain and industrial officer. Bierbrauer will be leaving the company following its winter show and a transition period.

Matteo Calonaci - Burberry
Matteo Calonaci – Burberry

Meanwhile, Johnattan Leon steps up as chief customer officer. He’s currently currently Burberry’s senior vice-president of commercial and chief of staff. In his new role he’ll be leading Burberry’s customer, client engagement, customer service and retail excellence teams, while also overseeing its digital, outlet and commercial operations.

Both Calonaci and Leon will join the executive committee, reporting to Company CEO Joshua Schulman.

JohnattanLeon - Burberry
JohnattanLeon – Burberry

Schulman said of the two execs that the appointments “reflect the exceptional talent and leadership we have at Burberry. Both Matteo and Johnattan have been instrumental in strengthening our focus on executional excellence and elevating our customer experience. Their deep understanding of our business, our people, and our customers gives me full confidence that their leadership will help drive [our strategy] Burberry Forward”.

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Puneet Gupta steps into fine jewellery

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December 5, 2025

Traditional and occasion wear designer Puneet Gupta has stepped into the world of fine jewellery with the launch of ‘Deco Luméaura,’ a collection designed to blend heritage and contemporary aesthetics while taking inspiration from the dramatic landscapes of Ladakh.

Hints of Ladakh’s heritage can be seen in this sculptural evening bag – Puneet Gupta

 
“For me, Deco Luméaura is an exploration of transformation- of material, of story, of self,” said Puneet Gupta in a press release. “True luxury isn’t perfect; it is intentional. Every piece is crafted to be lived with and passed on.”

The jewellery collection features cocktail rings, bangles, chokers, necklaces, and statement evening bags made in recycled brass and finished with 24 carat gold. The stones used have been kept natural to highlight their imperfect and unique forms and each piece in the collection has been hammered, polished, and engraved by hand.

An eclectic mix of jewels from the collection
An eclectic mix of jewels from the collection – Puneet Gupta

 
Designed to function as wearable art pieces, the colourful jewellery echoes the geometry of Art Deco while incorporating distinctly South Asian imagery such as camels, butterflies, and tassels. Gupta divides his time between his stores in Hyderabad and Delhi and aims to bring Indian artistry to a global audience while crafting a dialogue between designer and artisan.

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