France and Switzerland agreed to cooperate to crack down on citizens with hidden Swiss bank accounts to root out tax dodgers and cheats.» Read More
LONDON, June 13- A rare 122.52- carat blue diamond found in South Africa could fetch more than $35 million for a London- listed mining company. Only three or four blue diamonds over 100 carats have ever been recovered, according to Cathy Mallins, corporate communications manager at Petra Diamonds Ltd..
ZURICH/ LONDON June 12- UBS shares fell on Thursday following a research report which said the Swiss bank could have to pay $8 billion in fines and settlements relating to alleged collusion and price-manipulation in the global currency market.
BEIJING, June 12- Chinese state-run oil trader Zhuhai Zhenrong Corp has entered a one-year supply agreement to buy Iranian South Pars condensate, in its first term contract for the light crude oil with the Middle East supplier, according to industry officials.
NEW YORK, June 11- House Majority Leader Eric Cantor's shocking defeat isn't likely to have much effect on U.S. financial markets-- unless his departure emboldens Tea Party Republicans to again threaten a government shut-down over the debt ceiling next year, investment strategists said.
*Iraq fears join Libya and Iran supply uncertainty. VIENNA, June 11- OPEC sailed through a brief, calm meeting on Wednesday- even as oil prices rose to $110 on barrel on concern renewed strife could hit Iraq's output and deepen a supply shortfall from chaotic Libya and sanctions-bound Iran.
SAN FRANCISCO, June 10- Index Ventures, the firm known for backing online video-chat service Skype at its early stages, said on Tuesday that it had raised 400 million euros for a venture fund focused on early-stage investments.
*Follows US settlement with Credit Suisse. JERUSALEM, June 8- Bank Leumi, Israel's second largest bank, said on Sunday it was close to a deal to pay nearly 1 billion shekels to the U.S. Justice Department in relation to its investigation into possible tax evasion by the bank's American clients.
ANKARA, June 8- Iranian President Hassan Rouhani visits Turkey on Monday to discuss expansion of trade and the civil war in Syria which has stained relations between the two neighbours.
*Iran Air would need 100 jets immediately sanctions lifted. DOHA, June 7- Iran Air will need at least 100 passenger jets once sanctions against the country are lifted and will find it easier to do business with companies that co-operated during the current window for sanctions relief, the head of the airline said.
NEW YORK, June 5- Lawyers at General Motors Co came under withering criticism in an internal company report on Thursday and at least two of them were fired, but the company's general counsel, a key adviser to CEO Mary Barra, was expressly asked by the board to keep his post.
NEW YORK/ DETROIT, June 5- The top lawyer at General Motors Co has survived the automaker's struggles over an ignition-switch defect, as a rash of firings announced on Thursday touched the corporate legal department he oversees.
NEW YORK/ WASHINGTON, June 4- The Federal Reserve may scrap elements of international measures aimed at assessing bank health in favor of imposing its own rules, frustrating bankers who have spent billions of dollars retooling their books to meet global standards.
WARSAW/ PARIS- French President Francois Hollande plans to raise concerns about a possible $10 billion- plus U.S. fine on BNP Paribas that he considers disproportionate with U.S. counterpart Barack Obama.
*Dufry to cement lead over DFS as largest airport retailer. ZURICH/ LONDON, June 4- Swiss travel retailer Dufry is buying rival Nuance for 1.55 billion Swiss francs, expanding its presence in Asia and cementing its position as the world's largest duty-free retailer ahead of Hong Kong- based DFS Group.
Under Basel, banks can determine how much debt they can take on by using their own models and computer systems to calculate how risky their assets are, among other methods. In other words, the Basel rules give banks a chance to monkey with their risk models to boost profit.
DAMASCUS, June 3- Syrians voted on Tuesday in an election expected to deliver an overwhelming victory for President Bashar al-Assad but which his opponents have dismissed as a charade in the midst of Syria's devastating civil war. Assad, looking relaxed and wearing a dark blue suit and light blue tie, voted at a central Damascus polling station with his wife Asma.
*Moscow complains situation worse since Ukraine election. DONETSK, Ukraine/ MOSCOW, June 2- Russia and Ukraine agreed on Monday to consider a proposal for Kiev to pay off a multi-billion-dollar gas bill that has soured relations between Moscow and Kiev, while fighting raged all day in eastern Ukraine.
BERNE, June 2- Credit Suisse has lost a limited amount of business as a result of pleading guilty to charges that it helped wealthy Americans to evade taxes, the head of its private bank said on Monday.
*Moscow complains situation worse since Ukraine election. DONETSK, Ukraine/ MOSCOW, June 2- Russia gave Ukraine a breathing space on Monday in a multi-billion-dollar gas dispute but balanced the concession with fierce denunciations of Kiev and NATO, while fighting raged all day in eastern Ukraine.
*Moscow complains situation worse since Ukraine election. DONETSK, Ukraine/ MOSCOW, June 2- Russia accused Ukrainian authorities on Monday of escalating violence against civilians in the rebel-held east of the country, even as it offered Kiev a brief respite in a dispute over billions of dollars' worth of unpaid gas bills.