Patrick Odier, chairman of the Swiss Banker's Association, talks about global banking standards as well as what makes Switzerland so attractive to international investors.» Read More
At the same time, Fitch affirmed the ratings of Credit Suisse's subsidiaries and holding company and of its issues. The rating actions on Credit Suisse have been taken in conjunction with Fitch's Global Trading and Universal Bank periodic review.
GENEVA/ PARIS, Oct 10- Authorities in Switzerland and France have arrested 20 people they say are linked to a multi-million dollar Moroccan drug smuggling network and have frozen accounts at several banks in Geneva, they said on Wednesday.
GENEVA, Oct 10- West African crude oil differentials paused on Wednesday after a sell-off earlier in the week as traders waited for the results of outstanding Asian tenders. But they said sales could improve in the next few session if India's Mangalore Refinery and Petrochemical Ltd.
PARIS-- French and Swiss prosecutors say they've dismantled a major drug trafficking and money laundering network, arresting 20 people on Wednesday, including employees of a finance company and major international bank.
*AMG/Permira plan to split up Robeco- sources. *Robeco could fetch more than 2 bln euros- sources. is weighing three offers for its asset management arm Robeco, facing a choice between bids to split the 2 billion euro- plus business or sell it in one piece, people familiar with the situation said.
*Dufry CEO says has contingency if Greece exits euro. ATHENS, Oct 10- Swiss retailer Dufry is to buy the duty-free operations of Greek rival Folli Follie, a rare vote of confidence in an economy deserted by other foreign companies concerned over its future in the euro.
The weeklong program of panel discussions, speakers and demonstrations, which opened Monday, was the brainchild of Groupon co-founder Brad Keywell, who regards Chicago Ideas Week as a startup, albeit one that will never be publicly traded on Wall Street. The Chicago- based entrepreneur was briefly a billionaire after Groupon Inc.' s IPO last year.
*Seller Rabobank evaluating the offers for Robeco- sources. *AMG/Permira plan to split up Robeco- sources. *Robeco could fetch more than 2 billion euros- sources.
By Martin de Sa' Pinto and Raji Menon. "There are opportunities in the water space that haven't been seen for decades now that governments have run out of money," said Zurich- based investor Martin Kloeck, whose Signina Capital recently launched a water fund.
*S&P says India still faces risk of rating downgrade. *India FY13 car sales growth f'cast slashed to 1-3 pct. S&P said the recent reform steps initiated by the government had helped in "slightly" revising its view on the country's credit rating, but warned India still faced a one-in-three chance of a credit rating downgrade within the next 24 months.
--In our opinion, the Canton of Basel-Country risks budgetary deterioration and a weakening liquidity position, should it not succeed in implementing its proposed budgetary savings measures. --We are revising our outlook on Basel-Country to negative and affirming the' AAA/A-1+' credit ratings on the canton.
*CVC, Partners Group, H.I.G. Capital invest more in debt. When Swedish buyout firm EQT bought BSN Medical earlier this year, another private equity house, Switzerland's Partners Group, lent the bandage-making business it had previously co-owned a chunk of the 1.8 billion euros needed to finance the deal.
*Dufry to pay 200.5 mln eur for 51 pct stake in duty free ops. ATHENS, Oct 10- Swiss retailer Dufry is to buy the duty-free operations of Greek rival Folli Follie, a rare vote of confidence in an economy deserted by other foreign companies concerned over its future in the euro.
LONDON, Oct 10- British prompt gas prices rose on Wednesday as higher demand and shortages caused by lower Norwegian exports left the market short by 23.6 million cubic metres, National Grid data showed. Flows through the Langeled pipeline that connects Norway with Britain dropped to around 13 mcm this morning, National Grid data showed.
*Credit Suisse export barometer at -0.86 in Q4. ZURICH, Oct 10- Swiss small and medium-sized companies are less worried about the strength of the franc than in the previous quarter and most industry sectors expect exports to rise in the fourth quarter, a survey showed on Wednesday.
ATHENS, Oct 10- Here are news stories, press reports and events, which may affect Greek financial markets on Wednesday:. Tens of thousands of angry Greek protesters filled the streets of Athens on Tuesday to greet German Chancellor Angela Merkel, who offered sympathy but no promise of further aid.
has agreed to sell a controlling stake in its local duty-free operations to Dufry, a Switzerland- based global travel retailer. Dufry will have an option to buy the remaining 49 percent in four years' time at a fair market value, it added.
ZURICH, Oct 10- The following are some of the main factors expected to affect Swiss stocks on Wednesday:. Alleged rogue trader Kweku Adoboli exposed Swiss bank UBS to billions of dollars of hidden market risk for weeks on end, peaking at nearly $12 billion on Aug. 8 last year, a London court heard on Tuesday.
Traders also cited some remaining uncertainty following Tuesday's strike in the energy sector in France, which completely halted production at E.ON' s. "All of E.ON' s plants were off yesterday and as far as I know they were all available again today, but the strike notice still hasn't been lifted, and this is creating tensions," a Paris- based trader said.
DALLAS-- Neiman Marcus rolled out its annual Christmas catalog Tuesday, offering a set of "his and hers" watches paired with a trip to Paris and Geneva for just over $1 million to shoppers who aren't worried about a holiday budget. One face shows a woman on the observation deck of the Eiffel Tower, gazing toward Notre Dame.