Tiffany ramps up Swatch spat

US jeweller Tiffany has filed a $590m (£377m) counter-claim against Swatch Group, the Swiss watchmaker said yesterday, in the latest volley in the companies’ feud over a failed deal to sell watches together. Tiffany's claim in a Dutch arbitration court comes three months after Swatch, the world's largest watchmaker, sued it for lost profits it estimated at $4.2bn. The companies ended their deal in September. Swatch said Tiffany's claim “has no factual or legal basis” and it will contest it “vigorously”.