NEWSWIRE

Fossil has officially opened its new European headquarters in Basel, Switzerland. It acquired the building, located only a few hundred yards from the halls of the annual BaselWorld , the world's largest watch and jewelry trade show, in January. Its watch brands include Fossil, Adidas, CallawayGolf, Diesel, DKNY, Emporio Armani, Marc Jacobs, Michael Kors, Michele, Philippe Starck, and Zodiac. The Swatch Group, the world's largest watchmaker, and Jing Jiang Group, China's leading hotel and travel group, in April signed a long-term joint pact (with Swatch providing 90 percent) to restore and develop Shanghai's Peace Hotel South Building, one of China's most famous sites (it hosted a historic meeting between U.S. President Richard Nixon and Chinese Chairman Mao Tse-tung ). The $30 million project calls for an international center devoted to contemporary art, culture, and hospitality, and w
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