Switzerland
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Switzerland is set to bow to years of pressure from the EU by overhauling the system of tax privileges that has helped entice thousands of multinational firms to the country.
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The Parsippany, N.J., company's stock had already climbed about 16 percent since last Friday, when Actavis and Irish drugmaker Warner Chilcott PLC said that they were in early talks about a possible combination but had reached no agreement yet. Actavis shares rose 62 cents to $124.50 in premarket trading about 40 minutes ahead of Thursday's market opening.
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*UK would need to negotiate new free trade rules with partners.
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LONDON/ ZUG, Switzerland, May 16- Glencore Xstrata has appointed Tony Hayward as its interim chairman, a source with knowledge of the matter said, propelling the once "vilified" former BP chief executive into the limelight after an unexpected boardroom coup.
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*Zurich, National Grid fall after results. LONDON, May 16- European shares fell slightly by midday on Thursday after some investors took profits on updates from Zurich Insurance Group and National Grid as indexes hovered near multi-year highs.
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LONDON/ ZUG, Switzerland, May 16- Glencore Xstrata Chairman John Bond surprised investors on Thursday by announcing he had been voted out of the top job at the miner and trader at the group's first annual shareholders' meeting.
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*Rupert to take one year leave after September AGM. ZURICH, May 16- Richemont's chairman and founder will take a year off from September, leaving the world's No. 2 luxury group in the hands of recently-named joint chief executives at a time of faltering growth in the industry's key market of China.
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GENOA, Italy, May 16- A deepening recession and banking stress tests could find Italy's mid-sized lenders short of billions of euros, putting the state on the hook for a new wave of cash calls and triggering an overhaul of how they do business.
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ZURICH, May 16- Richemont's chairman and founder Johann Rupert is to take a year off from September, leaving management of the world's second-largest luxury goods group in the hands of a recently-named joint chief executive team.
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LONDON, May 15- A European investigation into alleged price rigging by major oil companies has drawn attention to leading price agency Platts and the way it sets oil price benchmarks. Authorities on Tuesday carried out a surprise inspection at Platts' London bureau as well as the offices of Royal Dutch Shell, BP and Statoil.
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GENEVA, May 15- Argentina has launched a dispute against the European Union at the World Trade Organization, challenging rules for importing and marketing biodiesel applied by Spain, Belgium, France, Italy and Poland, the WTO said on Wednesday.
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GENEVA, May 15- Argentina has launched a dispute against the European Union at the World Trade Organization, challenging rules for importing and marketing biodiesel used by Spain, Belgium, France, Italy and Poland, the WTO said on Wednesday.
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LONDON, May 15- A European investigation into alleged price rigging by major oil companies has drawn attention to leading price agency Platts and the way it sets oil price benchmarks. Authorities on Tuesday carried out a surprise inspection at Platts' London bureau as well as the offices of Royal Dutch Shell, BP and Statoil.
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RICHMOND, Va.-- The president of Virginia Tech announced his retirement Tuesday, satisfied he had elevated the university's reputation and acknowledging that the worst mass shooting in modern U.S. history on his campus would be a part of his legacy.
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*Black Sea expected to remain among the cheapest suppliers. *USDA's Black Sea crop estimates may prove too optimistic. While Russia and Ukraine are expected to store some grain, analysts said they would remain one of the world's cheap suppliers, typically attracting interest from price-sensitive buyers in north Africa and the Middle East.
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ZURICH, May 15- Swiss drugmaker Roche hopes data published this week will show it has a viable follow-on product to help fend off cheaper competition for its best-selling cancer drug, which loses patent protection in Europe later this year.
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LONDON, May 15- Britain has leapfrogged Australia to become the world's second most desirable location for professionals looking to live and work abroad, trailing only the United States, a survey found on Wednesday.
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LONDON/ GENEVA, May 14- Gunvor will beef up its assets by buying or building refineries and terminals from Asia to Africa as opportunities for trading grow with oil majors shifting their focus to producing energy, the trading house said on Tuesday. The firm is co-owned by Gennady Timchenko, seen as one of the closest allies of Russian president Vladimir Putin.
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BRUSSELS, May 14- European Union finance ministers gave the green light on Tuesday to start talks with Switzerland, Liechtenstein and three other countries on new rules for swapping bank account information, officials said.
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LONDON, May 14- Asset manager BlackRock said on Tuesday that one of its former employees was arrested in April by City of London police on suspicion of insider dealing.
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GENEVA, May 14- A study commissioned by a global banking lobby group has found that banks pose a greater systemic risk than their commodity trading house competitors do and the report has not been made public, its author said.