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Switzerland

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  • RUESCHLIKON, Switzerland, Nov 21- The Swiss National Bank's cap on the franc remains a key part of monetary policy and it will be maintained as long as required, a central bank board member said on Friday. "It's clear that the minimum exchange rate of 1.20 is absolutely central to prevent an unwanted tightening of monetary policy conditions," Fritz Zurbruegg said in...

  • *Washington conciliatory after secret talks angered Paris. *France risks losing out commercially if Iran deal struck. France, a U.N. Security Council veto-holder, has long held out for strict terms trading a loosening of international sanctions on Iran's oil-based economy in return for commitments by Tehran to show its nuclear work is as peaceful as it insists.

  • Researcher who found cause of Lyme disease dies Thursday, 20 Nov 2014 | 9:52 AM ET

    HAMILTON, Mont.— The Swiss-born researcher who gained international recognition for discovering the bacteria that causes Lyme disease has died in western Montana. A spokesman at the Daly-Leach Chapel said Wilhelm "Willy" Burgdorfer died from complications of Parkinson's disease Monday in Hamilton. He went to the Rocky Mountain Laboratory in Hamilton as a...

  • GENEVA, Nov 19- Anti-corporate activists declared moral victory over the annual Davos World Economic Forum of global business and political leaders on Wednesday and said they would no longer lobby there after the next meeting in January. To mark their "farewell to Davos", they said in a statement, they would use the Forum from January 21-24 to present a final "award...

  • Anti-corporate groups to stop protesting Davos Wednesday, 19 Nov 2014 | 6:01 AM ET

    GENEVA— Two anti-corporate campaign groups said Wednesday that they will stop staging protests at the World Economic Forum because they believe the annual meeting of political and business leaders in Switzerland is no longer relevant. Instead, the groups said they would focus their work on promoting a plan— to be put to referendum in Switzerland— that would...

  • Nov 18- A Swiss banker charged in the United States last year with helping wealthy Americans avoid taxes said in a court filing on Tuesday that he wanted to fight the charges and asked a federal judge to consider his application for bail before he traveled to the United States. Stefan Buck, who remains in Switzerland and was head of private banking at Zurich- based...

  • LONDON, Nov 17- Political rhetoric raising the possibility that Britain may leave the European Union could already be deterring foreign investment and harming London's financial services industry, a top UK investor said. Britain is due to hold a general election next year with the country's relationship with Europe a key issue. Nusseibeh highlighted the...

  • Plans for rare Paris skyscraper fall into legal limbo Monday, 17 Nov 2014 | 10:01 AM ET

    PARIS, Nov 17- Paris city councilors voted against plans on Monday for French capital's first modern skyscraper in more than 40 years, leaving the Eiffel Tower to reign supreme over the Paris skyline for now. Though common in most other major capitals, skyscrapers have faced deep opposition in Paris ever since the 300- meter high Eiffel Tower was built for the...

  • ZURICH/ COPENHAGEN, Nov 17- The world's largest maker of hearing aids Sonova posted disappointing first-half profits and a share buyback half the size of what was expected, worrying investors about its strategy of boosting market share by making deep discounts. It also alienated independent shops that were Sonova's traditional outlets and angered its...

  • Nov 16- Chemotherapy as a treatment for advanced melanoma could soon become obsolete, researchers said on Sunday, after patients taking an experimental immuno-oncology drug from Bristol-Myers Squibb Co had a much higher survival rate and had other favorable results. Georgina Long, an associate professor at the Melanoma Institute Australia who helped lead...

  • LONDON, Nov 14- The job of fixing flaws that led to the 2007-09 financial crisis is largely done and the focus will turn to spotting new risks and rebuilding trust among regulators, a global watchdog set up by the Group of 20 leading economies said on Friday. "The G20 has worked intensively over the past six years to correct the fault lines that led to the global...

  • DAKAR/ BRUSSELS, Nov 14- Medecins Sans Frontiers "wasted time" by waiting too long to call for vaccines to fight an unprecedented outbreak of Ebola in West Africa, a veteran of the medical charity told Reuters. The group's response to the epidemic which has so far killed more than 5,000 people has been widely praised by governments and the World Health Organization.

  • NEW YORK, Nov 13- A former vice president at Swiss private bank Rahn& Bodmer was indicted on Thursday in the United States on charges of conspiring to help Americans to evade taxes by using secret accounts. Martin Dunki, who retired from the bank in 2012, was charged with one count of conspiracy in an indictment filed in New York federal court. The bank was not named in...

  • NEW DELHI/ WASHINGTON/ GENEVA, Nov 13- India and the United States settled a dispute on Thursday that had paralysed the World Trade Organization and risked derailing a $1 trillion package of reforms of global customs procedures. That put the WTO's future in doubt just months after it appeared to have overcome decades of stalemate on the issue at a meeting in Bali...

  • *OCC fines three U.S. banks, including Bank of America, $950 mln. LONDON/ ZURICH/ NEW YORK, Nov 12- Regulators fined six major banks including Citigroup and UBS a total of $4.3 billion for failing to stop traders from trying to manipulate the foreign exchange market, following a year-long global investigation. HSBC, Royal Bank of Scotland, JP Morgan and Bank of America...

  • LONDON/ NEW YORK, Nov 12- Barclays did not join a $3.4 billion settlement over alleged manipulation of foreign exchange rates because of issues with its New York regulator, people familiar with the matter said. Barclays is overseen in New York by the Department of Financial Services, unlike five other banks which settled with British, U.S. and Swiss regulators.

  • LONDON, Nov 12- Barclays did not join a group settlement over the alleged manipulation of foreign exchange rates because of complications with its regulator in New York, people familiar with the matter said. London- based Barclays is regulated by the New York State Department of Financial Services, unlike any of the other five banks who agreed a $3.4 billion...

  • LONDON/ ZURICH, Nov 12- Global regulators imposed penalties totalling $3.4 billion on five major banks, including UBS, HSBC and Citigroup, on Wednesday for failing to stop their traders from trying to manipulate foreign exchange markets. Royal Bank of Scotland and JP Morgan were also fined over attempts to rig currency benchmarks in a year-long probe that has...

  • LONDON/ ZURICH, Nov 12- Global regulators imposed penalties totalling $3.4 billion on five major banks, including UBS, HSBC and Citigroup on Wednesday in a landmark settlement over allegations of price fixing in the foreign exchange market. Royal Bank of Scotland and JP Morgan were also fined for attempting to manipulate foreign exchange benchmarks in a...

  • LONDON/ WASHINGTON, Nov 11- British and U.S. regulators are poised to levy hefty fines on leading banks in a landmark settlement after a year-long global investigation of allegations of collusion and manipulation in the foreign exchange market. At least one of the six banks set to be named early on Wednesday by Britain's Financial Conduct Authority was still in...