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Switzerland

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  • Swiss to vote on massive gold-buying plan Friday, 28 Nov 2014 | 5:46 AM ET

    GENEVA— In Switzerland, a campaign is on to protect the country's wealth by investing in gold— a lot of gold. If the initiative wins the backing of a majority of voters this Sunday, the Swiss National Bank would also be prohibited from spending any of the treasure, which would have to be locked away in vaults entirely on Swiss soil. Jacques Mayor, a Geneva accountant,...

  • Argentina charges HSBC with aiding tax evasion Thursday, 27 Nov 2014 | 4:06 PM ET

    BUENOS AIRES, Argentina— Argentina's tax agency charged HSBC bank Thursday with helping more than 4,000 Argentines evade taxes by placing their money in secret Swiss accounts. AFIP said it got its information from France, where HSBC was placed under formal investigation last week for possibly aiding tax evasion. AFIP charged the local branch of HSBC and its...

  • Diplomats make trade deal to cut red tape, poverty Thursday, 27 Nov 2014 | 1:03 PM ET

    GENEVA— After many years of talking, the World Trade Organization pulled off a major deal Thursday that could boost global commerce by $1 trillion annually. After months of stalemate and years of negotiation, a U.S.- India deal this month over food stockpiling by India cleared the way for the agreement. India had insisted on subsidizing grains under a national...

  • WTO finds against Peru in farm duties case Thursday, 27 Nov 2014 | 11:26 AM ET

    GENEVA, Nov 27- A World Trade Organisation dispute panel ruled on Wednesday that Peru was violating global trade rules in imposing additional duties on key agricultural products when their international prices fell below a set floor. The case was brought to the WTO last April by Guatemala, which argued that its exports to Peru had suffered under the measure...

  • *Algeria, Bahamas, Belarus, Liberia and Serbia also in line. GENEVA, Nov 25- The 160- member World Trade Organization is in active discussions with 10 countries aiming to become members, including Kazakhstan and Afghanistan, WTO Director General Roberto Azevedo said in a report on Tuesday. But several bigger countries are queuing up, led by Kazakhstan.

  • DUBAI, Nov 24- Iran and world powers agreed to keep negotiating beyond the November 24 deadline to try to resolve a nuclear dispute and to the extension of the provisions of last year's Geneva accord until July 1, 2015, state news agency IRNA reported on Monday. "The foreign ministers of Iran and P5 +1 have decided to continue their negotiations during the coming...

  • Syngenta, Swiss agribusiness, targets 1,800 jobs Monday, 24 Nov 2014 | 3:33 AM ET

    GENEVA— Agrochemicals giant Syngenta says it is eliminating or reshuffling 1,800 jobs globally as part of a $1 billion cost-cutting program to boost earnings. The Basel, Switzerland- based manufacturer, which is one of the world's largest suppliers of seeds and crop chemicals and has more than 28,000 employees in some 90 countries, says most of the...

  • 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...