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Switzerland

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  • LONDON, Oct 31- The Bank of England told British banks on Friday they will be required to hold more capital to guard against the risks of bad loans, but the new measures were less stringent than many had expected. Shares in Barclays-- one of the banks which analysts had feared might be hit hardest by the new rules-- rose a hefty 7 percent on the news, and shares in Lloyds...

  • *Cipla says launched cheaper copy of Novartis drug in Delhi. *Cipla says Novartis not making enough drug for India. Cipla, India's fourth-largest drugmaker by revenue, said because there was an urgent but unmet need for the respiratory treatment in India it has started to sell a copy of the drug in Delhi priced at a fifth of the cost of Novartis's product.

  • Govt to probe Indians with foreign bank accounts Wednesday, 29 Oct 2014 | 3:04 AM ET

    NEW DELHI— India's government handed over the names of more than 600 Indians with foreign bank accounts to the Supreme Court on Wednesday after public outrage over rampant tax evasion. They all had accounts with a Geneva branch of HSBC, information that was disclosed in 2011 by an employee of the bank and passed to India but not acted on by the previous government.

  • Oct 28- Alevo Group, which has kept its energy storage technology secret for a decade, unveiled it on Tuesday, and said it has struck deals aimed at deploying its batteries in power grids in China and Turkey. The Martigny, Switzerland- based company has yet to sign up any U.S. customers but said on Tuesday that it has reached a deal with China-ZK International Energy...

  • *Q3 net profit at 762 mln Sfr vs 737 mln Sfr in poll. ZURICH, Oct 28- UBS put aside 1.8 billion Swiss francs in the third quarter for potential legal costs and said it was talking to the U.S. Department of Justice about resolving an investigation into currency market rigging. The increase in legal reserves shows Switzerland's largest bank is struggling to move on from...

  • Swiss agency approves trial for Ebola vaccine Tuesday, 28 Oct 2014 | 6:24 AM ET

    GENEVA— The Swiss agency that regulates new drugs said Tuesday it has approved an application for a clinical trial with an experimental Ebola vaccine at the Lausanne University Hospital. In a statement, the Bern- based Swiss government agency said the trial continues a series that began in the United States, Britain and Mali, using a vaccine based on a...

  • Swiss bank UBS posts 32 percent gain in Q3 profit Tuesday, 28 Oct 2014 | 3:12 AM ET

    GENEVA— Swiss banking giant UBS AG is reporting a third-quarter net profit of 762 million Swiss francs, up 32 percent from the comparable period a year ago based on solid returns from its investment banking and wealth management. UBS said in a statement Tuesday its results include a high capital cushion "well ahead of" what is required and net tax benefit of 1.3...

  • Swiss drug maker Novartis posts strong profit Tuesday, 28 Oct 2014 | 3:09 AM ET

    GENEVA— Swiss pharmaceutical giant Novartis AG has posted a 45 percent rise in net profit in the third quarter, boosted by strong sales of new products such as Gilenya for multiple sclerosis and the leukemia drug Tasigna. The Basel, Switzerland- based company's reported quarterly net profit was $3.24 billion, up from last year's equivalent of $2.23 billion,...

  • *Q3 net profit at 762 mln Sfr vs 737 mln Sfr in poll. ZURICH, Oct 28- UBS booked 1.8 billion Swiss francs in legal provisions for the third quarter, bulking up reserves as it discusses a settlement with U.S. prosecutors to a criminal investigation over alleged rigging of foreign exchange rates. Zurich- based UBS did not link the legal reserves to the forex probe, but said...

  • India slides, US gains in gender equality ranking Tuesday, 28 Oct 2014 | 2:34 AM ET

    The annual Gender Gap Index by the Geneva- based World Economic Forum showed India falling to 114th place, after being ranked 101st out of 136 countries surveyed last year. That puts India below other fast-developing nations including South Africa, ranked 18th, China at 87 and Brazil at 71.. Nordic nations led the world in promoting equality of the sexes, as they...

  • LONDON, Oct 27- Europe's banking health check has shown countries and lenders are implementing global capital rules at vastly different speeds, and 36 companies would have failed if new capital rules were fully applied. Europe had gained credibility, said Karen Petrou, co-founder of Federal Financial Analytics in Washington. Federal Reserve was still...

  • LONDON, Oct 27- Europe's banking health check has shown countries and lenders are implementing global capital rules at vastly different speeds, and 36 firms would have failed if new capital rules were fully applied. The euro zone is lagging behind countries outside the bloc in implementing the Basel III capital rules that are due to come into full force in 2019,...

  • LONDON, Oct 27- Drugmakers sprinting to develop Ebola vaccines face a series of technical hurdles if they are to get millions of doses ready for use next year-- even assuming clinical trials are successful. The challenges include finding sufficient sterile capacity for filling and packaging finished vials, getting fast quality approvals from regulators, and...

  • Rapid UK economic growth slows slightly in 3rd quarter. LONDON- Britain's rapid economic recovery eased as expected during the third quarter, as services output growth slowed and manufacturing expanded at the weakest pace in 18 months, official data shows. BRUSSELS- France and Italy make fresh commitments to reform to persuade Germany and the European...

  • FORT LAUDERDALE, Fla., Oct 23- A former senior Swiss bank executive on trial for federal tax evasion was a micro-manager intimately involved in efforts to deceive U.S. authorities, a former employee testified on Thursday. Martin Liechti, the former head of the wealth management division for the Americas at UBS, was testifying in Fort Lauderdale for a second day in...

  • FORT LAUDERDALE, Fla., Oct 23- A key witness in the federal tax evasion trial of a top Swiss bank executive took the stand on Thursday to testify against his former boss, Raoul Weil, who is accused of conspiring to conceal up to $20 billion in U.S. taxpayers' assets in secret offshore accounts. The former head of the wealth management division for the Americas at UBS,...

  • EU leaders seek more Ebola funding at summit Thursday, 23 Oct 2014 | 8:49 AM ET

    BRUSSELS— Britain pledged an additional 100 million euro to fight Ebola and Prime Minister David Cameron called on the other European Union leaders at a summit to step up their efforts to contain the deadly virus too. Britain said its total contribution now stood at 256 million euros toward fighting Ebola, more than any other EU nation. An international...

  • *Topic expected to be discussed at Geneva vaccines meeting. LONDON/ GENEVA, Oct 23- Drugmakers are looking for some kind of indemnity from governments or multilateral agencies against possible losses or claims arising from the widespread emergency use of new Ebola vaccines in Africa. While the issue will not delay the industry's ongoing work to accelerate...

  • ZURICH, Oct 23- Credit Suisse reported stronger-than-expected third quarter profits on Thursday, bolstered by its investment bank, which benefited from a rise in bond-trading and fees from the multi-billion dollar listing of China's Alibaba. This marks a return to profit for the Zurich- based bank after it reported its biggest loss since the financial crisis...

  • *Topic expected to be discussed at Geneva vaccines meeting. LONDON/ GENEVA, Oct 23- Drugmakers are looking for some kind of indemnity from governments or multilateral agencies for the widespread emergency use of new Ebola vaccines in Africa. While the issue will not delay the industry's ongoing work to accelerate production and clinical testing of three...