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Switzerland

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  • Iran, world powers edge closer to nuclear deal Saturday, 28 Mar 2015 | 5:05 PM ET
    U.S. Secretary of State John Kerry (L), Iranian Foreign Minister Javad Zarif (R) and EU envoy Catherine Ashton pose for photographers before a meeting in Vienna November 22, 2014.

    World powers gathering in the Swiss city of Lausanne insist they are closer than ever to reaching a nuclear deal with Iran.

  • Prosecutors in U.S. District Court in Alexandria recommended probation for the two men, Andreas Bachmann and Josef Dorig. The two were among eight former employees of Zurich- based Credit Suisse and its subsidiaries who were indicted in 2011. The other six remain at large. Last year, Credit Suisse pleaded guilty to aiding U.S. tax evaders and agreed to pay about...

  • ZURICH, March 26- Switzerland's currency is still significantly overvalued and the Swiss National Bank is prepared to intervene in the foreign exchange market if necessary, SNB bank board member Fritz Zurbruegg said on Thursday. In a speech in Zurich, he also defended the central bank's shock decision in January to abandon its three-year-old cap on the franc,...

  • EU signals further divergence from global banking rules Thursday, 26 Mar 2015 | 8:23 AM ET

    LONDON, March 26- The European Union will continue to diverge from global banking regulations where necessary to avoid overburdening smaller lenders, the bloc's financial services chief said on Thursday. Hill said he would "differentiate" from other Basel rules, too, in an effort to ensure that EU legislation is proportionate and takes into account different...

  • DIARY- Top Economic Events to April 8 Wednesday, 25 Mar 2015 | 8:01 PM ET

    ROME- European Central Bank president Mario Draghi addresses the Italian parliament's finance and EU policy committees- 1200 GMT. LONDON- Bank of England to publish Financial Policy Committee statement- 0930 GMT. FRANKFURT- Federal Reserve Bank of St. Louis President James Bullard gives OMFIF Public Lecture on the economy and monetary policy- 0835 GMT.

  • ZURICH, March 25- Swiss bank Vontobel said it had the firepower for more deals, after agreeing to buy a majority stake in Britain's TwentyFour Asset Management and announcing takeover talks for a German-based asset manager. Zurich- based Vontobel has been restrained in acquisitions since buying Commerzbank's Swiss arm in 2009, despite stressing it has the...

  • ATHENS, Greece— A special court acquitted Greece's former finance minister George Papaconstantinou of felony charges of breach of faith and doctoring a document Tuesday in a case concerning Greeks with bank accounts in Geneva, and found him guilty of a lesser misdemeanor charge. He had faced a possible sentence of 10 years to life imprisonment over the felony...

  • NEW YORK, March 24- When the president of Audi of America hits the road, most of his business journeys are more than a car trip away. Scott Keogh, who is based in Herndon, Virginia, travels regularly for work and has one favorite destination: Geneva. "Beyond the charm of what I consider one of Europe's finest cities, the sheer beauty of the Swiss landscape is breathtaking,"...

  • *Share exchange ratio altered in Holcim's favour. PARIS/ ZURICH, March 20- Switzerland's Holcim and France's Lafarge have agreed new terms for their plan to create the world's top cement firm, giving unhappy shareholders in the Swiss firm a better deal but leaving a key leadership question unanswered. The companies also agreed that Lafarge boss Bruno Lafont...

  • *Share exchange ratio altered in Holcim's favor. PARIS/ ZURICH, March 20- Switzerland's Holcim and France's Lafarge have agreed new terms for their plan to create the world's biggest cement company, giving unhappy shareholders in the Swiss firm a better deal. The companies also agreed that Lafarge boss Bruno Lafont would no longer become chief executive and...

  • ZURICH, March 19- Switzerland's central bank said it would stay active in markets to weaken an overvalued franc as it cut growth and inflation forecasts, while tumbling exports suggested the soaring currency was already weighing heavily on the economy. At Thursday's policy meeting, the Swiss National Bank also said its benchmark interest rate target, which it...

  • DUBLIN, March 19- Irish cement firm CRH is assuming the merger of rivals Lafarge and Holcim will still happen, its chief said after CRH shareholders approved an asset purchase that depends on the deal. CRH has agreed to buy a number of mostly European assets from Lafarge and Holcim for 6.5 billion euros so the French and Swiss firms can get antitrust clearance for...

  • Auris reports 4Q loss Thursday, 19 Mar 2015 | 7:39 AM ET

    4001 BASEL, Switzerland _ Auris Medical Holding AG on Thursday reported a loss of $4 million in its fourth quarter. On a per-share basis, the 4001 Basel, Switzerland- based company said it had a loss of 17 cents. Keywords: Auris Medical Holding, Earnings Report.

  • SNB: Inflation is lower than our target   Thursday, 19 Mar 2015 | 6:50 AM ET
    SNB: Inflation is lower than our target

    Thomas Jordan, chairman of the Swiss National Bank, says he hopes inflation will move higher over time.

  • DUBLIN, March 19- Irish cement firm CRH is working on the basis that the troubled merger of industry giants Lafarge and Holcim will happen, its chief executive said as his shareholders approved asset purchases that depends on it. CRH has agreed to buy a chunk of European assets from the pairing to help Lafarge and Holcim get antitrust clearance for the creation of...

  • U.S. to chart new territory in Gulf airline subsidy review Wednesday, 18 Mar 2015 | 10:34 PM ET

    No international trade rules or precedent by the United States exists for addressing airline subsidy claims, presenting a challenge for the administration as it determines how to proceed, a person familiar with the matter said. These issues do not fall under World Trade Organization rules but rather under bilateral "Open Skies" agreements that authorize...

  • WASHINGTON— The United States is escalating a food fight with Indonesia, charging that the Southeast Asian country violates world trade rules by blocking imports of fruit, produce and meat. U.S. trade and agriculture officials announced Wednesday that the U.S. is bringing a case against Indonesia at the World Trade Organization in Geneva.

  • Brazil president announces anti-corruption measures Wednesday, 18 Mar 2015 | 2:16 PM ET

    SAO PAULO— President Dilma Rousseff announced a series of anti-graft measures on Wednesday in the wake of Sunday's massive nationwide rallies calling for her impeachment and protesting rampant corruption in Latin America's largest country. The survey by the Datafolha polling institute showed that the president's popularity dropped even among...

  • BRASILIA/ ZURICH, March 18- Swiss prosecutors have uncovered over 300 accounts at more than 30 Swiss banks that they suspect are linked to the massive corruption and money-laundering scandal at Brazil's state-run oil company Petroleo Brasileiro SA. Switzerland has frozen roughly $400 million in Swiss accounts in the investigation and has begun to return an...

  • Tag Heuer can adapt to Swiss franc: CEO   Wednesday, 18 Mar 2015 | 12:40 PM ET
    Tag Heuer can adapt to Swiss franc: CEO

    Jean-Claude Biver, CEO of Tag Heuer, talks about the impact of the strong Swiss franc on the company, saying "we are capable to adapt."