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Switzerland

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  • BUSINESS-NEWS-SCHEDULE AT 0830 GMT / 4.30 AM ET Friday, 17 Oct 2014 | 5:02 AM ET

    LONDON- World stocks hit a nine-month low but oil and southern European bonds are off their week's lows, as investors begin to dust themselves off after one of the most volatile spells in world markets in years. LONDON- The Bank of England may need to keep interest rates lower for longer than previously thought to reduce the chance of Britain's economy slipping...

  • UNITED NATIONS/ WASHINGTON, Oct 16- A United Nations trust fund seeking nearly $1 billion for rapid, flexible funding of the most urgent needs to fight Ebola in West Africa has received a deposit of just $100,000 nearly a month after it was set up. Since then $365 million has been committed to stop Ebola in Liberia, Sierra Leone and Guinea, which have been hit hardest...

  • Oct 16- The benefits of Novartis AG's anti-inflammation drug outweighed the risks in using it to treat a type of psoriasis, staff reviewers at the U.S. Food and Drug Administration said. There were no major safety issues associated with secukinumab, according to the review posted on the FDA website on Thursday- four days before a panel of outside advisers is...

  • UPDATE 2-New breast cancer drugs boost sales at Roche Thursday, 16 Oct 2014 | 5:20 AM ET

    *Q3 sales 11.78 bln Sfr vs 11.57 bln Sfr poll forecast. ZURICH, Oct 16- Swiss drugs firm Roche reported better than expected third-quarter sales on Thursday, boosted by a strong performance from its new breast cancer drugs. The Basel- based firm has launched a string of new expensive cancer drugs over the past two years, hoping that these improved versions of its...

  • VEVEY, Switzerland, Oct 16- Sales growth at Nestle, the world's biggest food group, slowed in the first nine months of the year as the company felt the impact of weakness in Asia and pricing pressures in Europe. Sales at the maker of KitKat chocolate bars and Nescafe coffee fell 3.1 percent to 66.2 billion Swiss francs in the nine months to September, as the strong...

  • Nestle says 3 percent sales drop amid strong franc Thursday, 16 Oct 2014 | 1:54 AM ET

    GENEVA— Nestle S.A., the world's biggest food and drink company, on Thursday reported a 3- percent drop in group sales for the first nine months of the year, impacted by weakness in currencies against the Swiss franc and other costs. The Vevey, Switzerland- based company said it had sales of 66.2 billion francs, down from 68.35 billion francs in the same period a year...

  • Swiss drug maker Roche posts flat 9-month sales Thursday, 16 Oct 2014 | 1:37 AM ET

    GENEVA— Swiss drugmaker Roche Holding AG posted flat sales for the first nine months of 2014, but said Thursday the results show strong demand for its cancer drugs and emerging new products. The Basel, Switzerland- based company's group sales were reported at 34.8 billion Swiss francs, nearly unchanged from 34.9 billion francs in the same period last year.

  • FORT LAUDERDALE, Fla., Oct 15- A former top UBS executive on trial in South Florida for tax fraud was on a committee in charge of managing U.S. demands that the Swiss bank disclose secret offshore accounts, UBS's former head of cross-border business testified on Wednesday. Raoul Weil, 54, who headed wealth management at Zurich- based UBS until his indictment, is...

  • MUMBAI/ LONDON, Oct 15- India's Tata Steel Ltd is in talks to sell loss-making European operations including mills in northern England and Scotland to Geneva- based Klesch Group, as it battles weak prices and tentative economic recovery. Tata, Europe's second-largest steel producer, said in a statement it had agreed to negotiate with Klesch over its Long...

  • GENEVA/ WASHINGTON, Oct 14- India broke World Trade Organization rules by blocking imports of U.S. poultry and other agricultural products because of unsubstantiated bird flu fears, a WTO dispute panel ruled on Tuesday. India had claimed its import restrictions were justified by international rules on animal health, but the panel agreed with the United States...

  • Jury selection begins in Florida trial of UBS banker Tuesday, 14 Oct 2014 | 11:13 AM ET

    FORT LAUDERDALE, Fla., Oct 14- Jury selection began on Tuesday in the trial of a former high-ranking UBS bank executive, who is charged in South Florida with helping thousands of Americans avoid paying taxes by concealing up to $20 billion in secret Swiss bank accounts. Raoul Weil, 54, was the third-highest ranked executive at the Zurich- based wealth management...

  • *Voluntary guidelines determine how green a bond is. ZURICH, Oct 14- The integrity of the fast-growing "green bond" market is at risk unless a clear definition of what passes for green can be agreed, Zurich Insurance's investment chief told the Reuters Global Climate Change Summit. The supply of green bonds, a fixed-income security designed to raise capital for...

  • *Sonova presents new "dual-core chip" technology platform. ZURICH, Oct 14- Sonova, the world's biggest hearing aid maker, disappointed some analysts on Tuesday with a range of new products that can connect to mobile phones-- but not directly. "It had been speculated that Sonova's new product platform would have been based on the same technology as GN's, 2.4 gigahertz...

  • Trial begins for ex-UBS banker in tax evasion case Tuesday, 14 Oct 2014 | 3:05 AM ET

    FORT LAUDERDALE, Fla.— Trial began Tuesday for a former top executive at Swiss banking giant UBS AG on charges of conspiring with other bankers and thousands of wealthy Americans to conceal $20 billion in assets from the IRS. "You had to have a plan, and it was a plan to defraud the IRS. And the defendant was in on that plan, "said Mark Daly, a Justice Department tax division...

  • MIAMI, Oct 13- Former high-ranking UBS bank executive Raoul Weil goes to trial in Fort Lauderdale, Florida on Tuesday for allegedly helping thousands of Americans avoid paying taxes by concealing up to $20 billion in secret Swiss bank accounts. "We are preparing diligently for trial," said Weil's New York- based attorney, Aaron Marcu. Since 2009, the Justice...

  • BERNE, Oct 13- A former banker at Switzerland's biggest bank, UBS, has been found guilty of handing over protected Swiss bank account data to the United States, according to a penalty order issued by the Swiss prosecutors' office. Gadola, who worked at UBS from 1995 to 2009, pleaded guilty in the United States in 2010 to conspiring to defraud the Internal Revenue...

  • *U.S. war funds finally approved to fight Ebola in West Africa. Oct 10- A commercial plane was briefly quarantined on a Las Vegas airport tarmac on Friday, sending airline shares down as worldwide fears increased that Ebola could spread outside West Africa, where it has killed more than 4,000 people. Airline and hospital officials said a Delta Air Lines plane was...

  • *Fate of Syrian Kurdish town sparks unrest in Turkey. GENEVA/ MURSITPINAR, Turkey, Oct 10- Thousands of people most likely will be massacred if Kobani falls to Islamic State fighters, a U.N. envoy said on Friday, as militants fought deeper into the besieged Syrian Kurdish town in full view of Turkish tanks that have done nothing to intervene. The United Nations...

  • Oct 10- U.S. lawmakers agreed to use $750 million in war funds to fight Ebola in West Africa and seven more people in Spain were admitted to the hospital where an infected nurse lay seriously ill on Friday, as global concern grew about the virus spreading. Countries from Macedonia to the Czech Republic to Brazil dealt with a rash of unlikely cases while Europe, the...

  • *Anger over fate of Syrian Kurdish town fuelling unrest in Turkey. GENEVA/ MURSITPINAR, Turkey, Oct 10- Thousands of people "will most likely be massacred" if Kobani falls to Islamic State fighters, a U.N. envoy said on Friday, as militants fought deeper into the besieged Syrian Kurdish town in full view of Turkish tanks that have done nothing to intervene.