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Switzerland

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  • ZURICH, May 12- A major shareholder in Adecco, Milwaukee- based fund manager Artisan Partners, is calling on the staffing firm to change its mind over a new chief executive it announced last week, in comments made to Swiss newspaper Finanz und Wirtschaft. Shares in Switzerland's Adecco tumbled after it said CEO Patrick de Maeseneire was leaving and would be...

  • US OK'd most Bill Clinton speech requests within days Tuesday, 12 May 2015 | 3:18 AM ET

    WASHINGTON— State Department officials under Secretary of State Hillary Rodham Clinton moved quickly when aides to Bill Clinton asked them in March 2010 to approve plans for the former president to address clients of a multinational British bank, Barclays. The long-running case had hardly been a secret: Barclays had openly acknowledged in its annual...

  • May 12- A top Federal Reserve official said on Tuesday he does not know when interest rates will rise, but he tempered that uncertainty by applauding an apparent consensus between markets and the U.S. central bank that it will happen later this year. William Dudley, president of the New York Fed and a close ally of Fed Chair Janet Yellen, mostly repeated recent...

  • GALLEN, Switzerland, May 10- When the Swiss central bank abandoned its cap on the franc back in January, corporate Switzerland warned of an economic "tsunami" that would hit exports, hammer jobs and plunge the Alpine nation into a deep recession. There are sectors of the economy, notably tourism and machinery firms with a franc-heavy cost base and high sales...

  • NEW YORK, May 8- Vadian Bank AG has become the second of what are expected to be dozens of Switzerland- based private banks to reach a deal with the U.S. Department of Justice under a voluntary disclosure program for assisting Americans in evading taxes. Gallen, in northeast Switzerland, accepted accounts that were forced out of other Swiss banks in 2008 after it...

  • LONDON/ FRANKFURT, May 8- Agricultural companies Monsanto and Syngenta are working with investment banks on a takeover deal that would create an industry behemoth with combined sales of more than $31 billion, three sources familiar with the matter said. Swiss crop chemicals maker Syngenta is working with Goldman Sachs to assess the merits of a sale to the...

  • *Quarterly net profit 1.98 bln Sfr vs 1.1 bln Sfr in poll. ZURICH, May 5- Switzerland's UBS reported its biggest quarterly profit in nearly five years on Tuesday, justifying the bank's decision to refocus on wealth management and slim down its investment bank. Inflows of cash from rich customers in Asia and a surge in foreign exchange dealing after the Swiss...

  • *UBS Q1 net profit 1.977 bln Sfr vs 1.1 bln Sfr in poll. ZURICH, May 5- UBS said it is in advanced talks with the U.S. Department of Justice to settle allegations of foreign exchange market rigging, as Switzerland's biggest bank by assets posted forecast-beating first-quarter earnings. In quarterly earnings, UBS said net profit for the first three months of 2015...

  • *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...

  • Why did the US pay this former Swiss banker $104M? Thursday, 30 Apr 2015 | 7:10 AM ET
    Bradley Birkenfeld, a former banker with UBS AG, walks outside Schuylkill Federal Correctional Institution after speaking to the media in Minersville, Pennsylvania, U.S., on Friday, Jan. 8, 2010.

    Former banker and whistleblower Bradley Birkenfeld tells how he came to be the man who ended the tradition of bank secrecy.

  • 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...

  • Profits up 17% at world's second-largest reinsurer Thursday, 30 Apr 2015 | 5:17 AM ET
    The Swiss Re building in Zurich is shown in this Feb. 19, 2009 photo.

    Swiss Re, the world's second-largest reinsurer, posted a 17 percent rise in net profit and said reinsurance rates remained attractive.

  • *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...

  • And the world's happiest country is... Friday, 24 Apr 2015 | 6:23 PM ET
    Alphorn players perform in Nendaz, Switzerland.

    Switzerland is the happiest place on Earth, thanks to its high performing GDP and healthy life expectancy rates of its citizens.

  • 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.