GO
Loading...

Enter multiple symbols separated by commas

Switzerland

More

  • ZURICH, July 1- The Swiss government said on Wednesday Thomas Bauer, an expert in banking law and combating money laundering, would become the new chairman of the financial regulator FINMA from January 2016. FINMA drew some criticism this year over its handling of allegations surrounding HSBC Holdings Plc's Swiss business. The government also named on...

  • ZURICH/ BRUSSELS, July 1- Credit Suisse's new chief executive told staff in a memo on Wednesday the Swiss bank needed a strong balance sheet to help it through rough times and the discipline to decide where it wanted to invest. Tidjane Thiam, 52, started work as CEO of Credit Suisse on Wednesday and investors are optimistic he can bring about a major change of...

  • WARREN, N.J.— Insurer Ace Ltd. is buying The Chubb Corp. for about $28.3 billion in cash and stock in a deal that will create one of the world's largest insurers. The combined company plans to use the Chubb name and will have its main offices in Zurich, Switzerland, where Ace is based. Chubb shareholders will receive $62.93 per share in cash and 0.6019 shares of Ace Ltd....

  • Asian stocks gain as US data eclipses Greek risk Wednesday, 1 Jul 2015 | 12:19 AM ET

    NEW YORK— Hopes that a deal could be reached between Greece and its creditors pushed stocks higher on Wednesday. Greece failed to repay a loan to the International Monetary Fund that was due on Tuesday after talks between the nations and its creditors broke down late last week. "The developments in Greece... seem to be driving sentiment more than anything," said Phil...

  • FRANKFURT, June 30- The world's top banks and insurers are seeing their business models challenged by "fintech" start-ups, which are reshaping what consumers and businesses expect from financial services, industry insiders and experts say. A report out Tuesday from the World Economic Forum, the Swiss-based corporate think-tank which runs the Davos summit of...

  • Referendum-happy Swiss see funny side of Greek vote Tuesday, 30 Jun 2015 | 11:38 AM ET

    ZURICH, June 30- Amid the confusion surrounding Greece's plan to put its bailout to a referendum on Sunday, the Swiss are finding something in the last-minute vote to laugh about. Switzerland, which is not a member of the European Union, holds referenda several times a year at national, regional and local level as part of a system of direct democracy.

  • The report by the World Economic Forum, the Swiss-based corporate think-tank which runs the Davos summit of world leaders each January, says major disruptions are in store for many once highly profitable financial services businesses. Exemplifying the trend, UK regulators last week granted a banking license to Atom, a "branch-free, paper-free" institution...

  • ZURICH, June 30- A drug being developed by Roche to treat multiple sclerosis met its main targets in two final-stage clinical trials, boosting the Swiss company's hopes of expanding beyond its core cancer business. Rebif, made by Germany's Merck KGaA, is already battling stiff competition from a new generation of oral drugs against the debilitating disease.

  • DIARY- Top Economic Events to July 10 Monday, 29 Jun 2015 | 8:01 PM ET

    LONDON- Reserve Bank of Australia Governor Glenn Stevens speaks at an event hosted by Official Monetary and Financial Institutions Forum- 0840 GMT. LONDON- Bank of England's Paul Fisher speaks at the Financial Times Future of Insurance event- 0840 GMT. VIENNA- European Central Bank Governing Council member Ewald Nowotny to give a keynote speech at "Raiffeisen...

  • BERN/ LONDON, June 29- Greece's deepening debt crisis prompted bankers to pause, not panic, on Monday, and though markets dropped sharply they held above previous crisis lows. Euro zone stocks remained well ahead of where they were at the start of the year before the European Central Bank started printing money, and while government borrowing costs shot up in...

  • OTTAWA, June 29- Bank of Canada Governor Stephen Poloz defended on Sunday the central bank's surprise interest rate cut early this year, saying last year's big drop in oil prices made the cut necessary to keep policy in a "neutral zone" where risks are balanced. Speaking on a panel at the Bank for International Settlements' annual general meeting in Basel,...

  • WASHINGTON, June 29- The U.S. Justice Department said on Friday it reached a resolution with the Swiss regional bank Ersparniskasse Schaffhausen AG on possible tax-related criminal offenses. According to terms of the agreement, EKS will cooperate in any related criminal or civil proceedings, show implementation of controls to stop misconduct and pay...

  • BASEL, Switzerland, June 29- Swiss drugmaker Novartis AG boosted its presence in pain management on Monday by agreeing to buy U.S.-Australian biotech firm Spinifex Pharmaceuticals, the companies said in separate statements on Monday. Spinifex said Novartis was paying $200 million upfront and Spinifex shareholders could get further payments based on...

  • FRANKFURT, Germany— Near-zero interest rates could become chronic in the world's major economies unless "a firm hand" is used to raise them back to more normal levels. That is the message in the annual report issued Sunday from the Bank for International Settlements based in Basel, Switzerland. The Fed's benchmark rate is a range between 0 and 0.25 percent; the...

  • *Italy last major market where outflows are expected. ZURICH, June 26- Switzerland's private banks are close to ridding themselves of undeclared European accounts, a salutary process but one which has undermined efforts to grow their businesses. Following the financial crisis, cash-strapped governments chased accounts hidden at banks in Zurich, Geneva and...

  • LISBON, June 25- The Bank of Portugal urged central banks in Portuguese-speaking Africa to raise supervision standards to the European banking union's tougher requirements to avoid capital cost hikes for European banks in Africa. Bank of Portugal Governor Carlos Costa, who is also a member of the European Central Bank governing council, said on Thursday that...

  • ZURICH, June 25- Union Bancaire Privee plans to cut between 60 and 110 jobs initially after buying the international business of wealth manager Coutts from Britain's Royal Bank of Scotland, a source familiar with the matter told Reuters on Thursday. The Geneva- based private bank run by Guy de Picciotto, the son of the founder, hopes the deal will bolster business...

  • ZURICH, June 25- Union Bancaire Privee plans to cut between 110 and 160 jobs initially after buying the international business of wealth manager Coutts from Britain's Royal Bank of Scotland, a source familiar with the matter told Reuters on Thursday. The Geneva- based private bank run by Guy de Picciotto, the son of the founder, hopes the deal will bolster business...

  • Monsanto posts higher 3Q profit, pursues Syngenta tie-up Wednesday, 24 Jun 2015 | 8:07 AM ET

    WASHINGTON— Monsanto Co. reported better-than-expected earnings results for the third quarter on Wednesday as executives continued to pursue a $45 billion takeover of Swiss competitor, Syngenta AG. The St. Louis company reiterated its goal to more than double its 2014 earnings per share by 2019, emphasizing the potential benefits of a combination with...

  • NEW YORK, June 23- A Manhattan federal judge on Tuesday questioned why a former UBS AG trader's bid to dismiss a criminal case accusing him of scheming to manipulate the Libor rate should even be considered when the U.S. government calls him a fugitive. District Judge Paul Crotty to overturn a federal magistrate's decision in March that rejected an earlier bid to...