Switzerland
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The wealthy have for centuries stashed their gold in Swiss vaults. But Swiss bankers are now reluctant to accept the world's bullion in the same old way, as they seek to reduce the size of their balance sheets. The Financial Times reports.
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ROME, Feb 3- Italy's former Prime Minister Silvio Berlusconi announced his "last great electoral and political battle" on Sunday with a sweeping promise to cut taxes and the cost of government if his center-right wins elections this month.
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The game may soon be up for banks that have made themselves look healthier by understating how risky their businesses are, which should help pension funds, savers and companies to decide which institutions to invest in.
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*Initiative promises greater transparency on capital ratios. LONDON, Feb 3- The game may soon be up for banks that have made themselves look healthier by understating how risky their businesses are, which should help pension funds, savers and companies to decide which institutions to invest in.
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BORJOMI, Georgia, Feb 1- If there's a way to dilute the bitterness in relations between Russia and Georgia after a 2008 war, it may lie in a lush valley south of the Caucasus Mountain border between the feuding former Soviet republics.
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MILAN, Feb 1- Autogrill, the world's biggest airport retailer, may split its business in two, a move that could help revive its main food operation and lead to a merger for the retail division. The announcement of the possible split, which has been the subject of market speculation for the last two years, sent Autogrill shares to their highest since May 2011.
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LONDON, Feb 1- Royal Bank of Scotland will next week agree a settlement with U.S. and British authorities for its part in a global rate rigging scandal, sources familiar with the situation told Reuters. RBS, which is 81 percent owned by the British taxpayer, will be the third bank after Barclays and UBS to settle with regulators investigating the affair.
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NEW YORK, Jan 31- Is oil like red meat or is it like tobacco? This morality play is being acted out with the greatest intensity in the fight over the proposed Keystone XL pipeline, which would stretch from Canada to the Texas Gulf Coast.
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WASHINGTON, Jan 31- The chief of a group of more than 200 CEOs said on Thursday that President Barack Obama had told the business community last month he might back a territorial tax system, which could exempt offshore corporate profits from U.S. taxation.
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Jan 31- The U.S. economy has just suffered its first contraction since 2009, consumer confidence has plunged since November's election and Americans' paychecks are only just starting to reflect an increase in payroll taxes averaging $70 per month. Across the Atlantic, the euro zone and Britain seem to be sinking back into recession.
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GENEVA, Jan 31- The World Health Organization has for the first time recommended limits on children's daily consumption of sodium which it hoped would help in the global fight against diet-related diseases becoming chronic among all populations.
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GENEVA, Jan 31- The World Health Organization issued new guidelines on Thursday recommending that adults consume less salt and a minimum of potassium in their daily diets so as to reduce risk of heart disease and stroke. "Adults should consume less than 2,000 mg of sodium, or 5 grams of salt, and at least 3,510 mg of potassium per day," the U.N. agency said in a statement.
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OTTAWA, Jan 31- Canadian Finance Minister Jim Flaherty revealed on Thursday he is suffering from a serious skin disease and is taking steroids that make him appear bloated and red-faced, but that the problem is not preventing him from doing his job. Flaherty's health has been a source of speculation in Ottawa for months because of his changed appearance.
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LONDON, Jan 31- Trafigura relies on Africa for almost a quarter of its revenues, the commodities giant has revealed, highlighting one of the highest risk appetites in the industry as it prepares to float a chunk of business. Trafigura told its bond holders Africa generated $29 billion worth of revenues in 2012 out of a total of $120 billion.
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*Q4 pretax loss 2.6 bln euros due to charges. FRANKFURT, Jan 31- Deutsche Bank plunged to its worst quarterly loss in four years on Thursday after it took nearly $4 billion in charges to try and draw a line under a slew of scandals and boost its balance sheet without asking shareholders for cash.
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FRANKFURT, Jan 31- Talks over an industry-wide settlement for banks involved in the Libor rate-fixing scandal have been informal, and are not advanced, Deutsche Bank co-chief executive Anshu Jain said on Thursday.
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LONDON, Jan 31- UK lawmakers grilled senior tax officials from leading accounting firms on Thursday over their role in helping big companies avoid tax, and said they could be banned from government contracts because of their tax work.
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*Q4 pretax loss 2.6 bln euros. FRANKFURT, Jan 31- Deutsche Bank plunged to a 2.6- billion-euro quarterly loss after it took charges aimed at drawing a line under a series of scandals and cleaning up its balance sheet without asking shareholders for cash.
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BRUSSELS, Jan 31- The European Commission said on Thursday it wanted EU member states restrict the use of pesticides linked to the decline of bees.
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*Diageo seeks to repeat success of Ciroc vodka for tequila. ZURICH, Jan 31- Diageo, the world's biggest spirits group, signalled a more reticent acquisition strategy following a recent buying spree, saying it wants to develop its own tequila brand after ending talks to buy a stake in Jose Cuervo.
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STOCKHOLM-- Wireless equipment maker Ericsson posted a 6.46 billion kronor loss in the fourth quarter due to a massive one-time charge, but said Thursday its sales rose 5 percent as mobile operators invested in broadband networks.