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Switzerland

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  • *Shell, Total restructure to combat falling oil prices. LONDON, May 1- Top oil firms Royal Dutch Shell and Total are bringing their refining and trading operations closer together, seeking alternative ways to drive profits as oil prices fall and independent trading houses expand into their territory. Snapping at their heels are energy brokerages Vitol and...

  • ZURICH/ LONDON, April 30- Swiss Re, the world's second-largest reinsurer, beat forecasts with a 17 percent rise in first-quarter net profit on Thursday, boosted by strong investment returns, and said it was able to renew policies at "acceptable" rates. Swiss Re and other reinsurers help insurance companies cover the cost of major damage claims, such as for...

  • *Holcim net 310 million francs vs f'cast 340 mln. *Lafarge shares up 4.5 percent, Holcim up 2.0 percent. ZURICH/ PARIS, April 30- Swiss cement maker Holcim reported a jump in first-quarter net profit on Thursday, helped by asset sales, while its French merger partner Lafarge posted a better than expected rise in operating profit.

  • Holcim shareholder Eurocement backs Holcim-Lafarge merger Wednesday, 29 Apr 2015 | 6:09 PM ET

    April 29- Eurocement Holding AG, Holcim Ltd's second-largest shareholder, said it supports the Swiss cement maker's planned merger with France's Lafarge SA. Eurocement, which has a 10.8 percent stake in Holcim, said it intends to keep actively participating in the work of the merged company. The backing from Eurocement is a boost to Zurich- based Holcim as it...

  • Swiss money laundering reports hit record high in 2014 Tuesday, 28 Apr 2015 | 8:17 AM ET

    ZURICH, April 28- Switzerland's money laundering office received a record number of suspicious activity reports last year, in part due to increased vigilance from Swiss banks. The Alpine nation has faced intense international pressure over bank secrecy, tax evasion and money laundering, most recently highlighted by allegations that the Swiss arm of HSBC had...

  • Why Apple may be flying too close to the sun Sunday, 26 Apr 2015 | 4:50 PM ET

    Apple's market capitalization is greater than any other company's. Yet the consensus is that Apple is still having a growth spurt.

  • ZURICH, April 25- UBS's chairman said a default by Greece is seen by the International Monetary Fund as "systemically controllable" and he believed it would have a negligible impact on the Swiss bank itself, according to a newspaper interview published on Saturday. In an interview with Neue Zuercher Zeitung, the chairman of Zurich- based UBS, Axel Weber, addressed...

  • ZURICH, April 24- Credit Suisse's outgoing chief executive said an ambitious expansion drive following the global financial crisis ranked among his mistakes as CEO, as he addressed shareholders for the last time on Friday. Expectations are high that the man who will replace Dougan in June, Tidjane Thiam, will scale back the investment bank and build up Credit...

  • *EU summit agreed to triple search and rescue mission off Libya. *Land routes into Europe also deadly; train kills 14 migrants. BRUSSELS/ SKOPJE, April 24- British and German warships made ready to sail for waters off Libya as Europe ramped up rescue operations in the Mediterranean after up to 900 desperate migrants drowned last weekend on a boat heading for Italy.

  • ZURICH, April 24- Credit Suisse's departing chief executive said an ambitious expansion drive following the global financial crisis ranked among his mistakes as CEO, addressing shareholders for the last time as head of the Swiss bank. "I have certainly made my share of mistakes, as well," Brady Dougan told the Zurich- based bank's annual general meeting on Friday.

  • ZURICH, April 24- Credit Suisse's departing chief executive said an ambitious expansion drive following the global financial crisis ranked among his mistakes as CEO, as he addressed shareholders for the last time as head of the Swiss bank. "I have certainly made my share of mistakes, as well," Brady Dougan will tell the Zurich- based bank's annual general meeting on...

  • Honda shows new business jet in Japan Thursday, 23 Apr 2015 | 4:55 AM ET

    TOKYO— Honda, known for making motorcycles and cars, is showing its new sleek business jet in Japan for the first time, billing it as quiet, quick and green. The jet, on show at Tokyo's Haneda airport on Thursday, is the culmination of founder Soichiro Honda's longtime dream to have a plane in Honda Motor Co.' s lineup. Honda Aircraft Chief Michimasa Fujino told...

  • Weatherford reports 1Q loss Wednesday, 22 Apr 2015 | 7:04 PM ET

    GENEVA _ Weatherford International Ltd. on Wednesday reported a loss of $118 million in its first quarter. The average estimate of 17 analysts surveyed by Zacks Investment Research was for earnings of 1 cent per share. Ten analysts surveyed by Zacks expected $3.07 billion.

  • LONDON, April 22- Swiss drugmaker Roche has "renewed confidence" that drugs targeting potentially brain-destroying plaque can fight Alzheimer's disease, following promising results with a product from a rival. Pharmaceuticals head Daniel O'Day said on Wednesday Roche would look again at prospects for two of its experimental Alzheimer's drugs, both of...

  • SHANGHAI, April 22- Issuance of Chinese asset-backed securities could triple to more than $160 billion this year, reactivating huge assets now mouldering on bank books, as Beijing streamlines procedures for firms to securitise receivables. China's tiny securitisation market has not tracked the expansion of China's $10- plus trillion economy, and banks...

  • Ace beats Street 1Q forecasts Tuesday, 21 Apr 2015 | 5:42 PM ET

    ZURICH _ Ace Ltd. on Tuesday reported first-quarter net income of $681 million. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $2.22 per share. Three analysts surveyed by Zacks expected $4.43 billion.

  • ZURICH, April 21- U.S. shareholder adviser ISS has recommended Holcim investors back the Swiss cement maker's proposed merger with France's Lafarge ahead of next month's shareholder vote on the $40 billion tie-up. Backing from ISS is a boost to Zurich- based Holcim as it seeks to win the support of two-thirds of investors at a shareholder meeting on May 8 in order...

  • *Discretion can impair comparability- Basel Committee. LONDON, April 21- Global regulators have jettisoned a string of national "waivers" from bank capital rules to help restore credibility in benchmark ratios published by lenders. "National discretion allows countries to adapt the Basel standards to reflect differences in local financial systems," the...

  • ZURICH, April 21- Credit Suisse's first-quarter net profit rose 23 percent, exceeding analysts' expectations, after market volatility boosted securities trading and on gains at its private bank for wealthy clients. Zurich- based Credit Suisse, the first European investment bank to report quarterly earnings, said net profit stood at 1.054 billion Swiss francs...

  • ZURICH, April 21- Credit Suisse said first-quarter net profit rose 23 percent after market volatility boosted securities trading and on gains at its private bank for wealthy clients. Zurich- based Credit Suisse, the first European investment bank to report quarterly earnings, said net profit stood at 1.054 billion Swiss francs from 859 million francs last...