VENTURE CAPITAL POST

Swatch will help design the sunglasses collection while Safilo will be in charge of production. The two companies will distribute the products in both their stores worldwide. The five-year agreement aligns with both the companies' strategic plan to create a new design concept.

When the Swiss central bank abandoned its cap on the franc back in January, corporate Switzerland warned of an economic "tsunami" that would hit exports, hammer jobs and plunge the Alpine nation into a deep recession.

The world's largest watchmaker unveiled its riposte to Apple Inc's smartwatch on Thursday, announcing a plan to put cheap programmable chips in watches that will let wearers from China to Chicago make payments with a swipe of the wrist.

Apple Inc (AAPL.O) Chief Executive Officer Tim Cook on Monday is expected to announce details of the first product developed under his leadership, a watch that Apple hopes will transform the market of wearable technology.

Swatch (UHR.VX) will launch a smart watch in the next two to three months, the Swiss watchmaker said on Thursday. A spokesman for Swatch confirmed Chief Executive Nick Hayek made the remarks to Bloomberg earlier on Thursday.

Apple Inc's newly unveiled smartwatch on Tuesday split fashion arbiters who may prove pivotal to its broad acceptance.

Swiss watchmaker Swatch Group has denied a media report saying it was working with technology company Apple on a smartwatch, a wearable device with interactive functions.