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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Oct 05-=============================================================================== Summary analysis-- Clariant AG----------------------------------- 05- Oct-2012=============================================================================== CREDIT RATING: BBB-/Negative/A-3 Country: Switzerland Primary SIC: Chemicals& allied products, nec Mult.
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were trading around 61.50 pence per therm, up 0.1 pence since Thursday morning, and prices for delivery within the day were also trading at 61.50 pence.
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*SNB has cap of 1.20/ euro on safe-haven franc* Reserves at 429.3 bln Sfr in September By Andrew Thompson and Catherine Bosley.
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ZURICH, Oct 5- The Swiss National Bank's foreign exchange reserves rose in September, data on Friday showed. The SNB held foreign currencies worth 429.303 billion Swiss francs last month, data on Monday calculated by the International Monetary Fund's method showed.
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ZURICH, Oct 5- The following are some of the main factors expected to affect Swiss stocks on Friday:. *Credit Suisse will lay off another 78 employees in the New York region by year-end, its fourth round of cuts for the area this year, a regulatory filing showed.
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*Kraft has spun off snacking business from grocery* Danone keeps Vitasnella brand for milk derivatives* Mondelez makes over a third of sales in Europe By Antonella Ciancio and Dominique Vidalon.
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*Switzerland want good progress by end-2012-SIF* A deal could raise Rome proceeds of 120- 150 bln euros By Elvira Pollina. MILAN, Oct 5- Switzerland says it wants good progress by the end of the year on an agreement to tax assets held by Italians in Swiss bank accounts but talk of a deal being done before Italian elections in the spring is premature.
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*A deal could raise Rome proceeds of 120- 150 bln euros. MILAN, Oct 5- Switzerland says it wants good progress by the end of the year on an agreement to tax assets held by Italians in Swiss bank accounts but talk of a deal being done before Italian elections in the spring is premature.
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*Danone keeps Vitasnella milk derivatives. *Mondelez makes over a third of sales in Europe. MILAN/ PARIS, Oct 5- Kraft Foods Europe, which is being integrated in spun-off snack giant Mondelez International, is buying Italy's Vitasnella snack business from French foods maker Danone for an undisclosed sum as part of its consolidation plans in Europe.
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NEW YORK, Oct 4- Credit Suisse Group will lay off another 78 employees in the New York region by year-end, its fourth round of cuts for the area this year. A Credit Suisse spokesman declined to expand on the notice. Credit Suisse employed about 11,700 people in the Americas at the end of 2011..
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SEOUL, Oct 5- Foreigners' net investment in South Korean bonds in September rose by the most since March due to a series of sovereign credit rating upgrades and expectations for additional monetary easing by the Bank of Korea, government data showed on Friday.
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Oct 4- The trustee liquidating Lehman Brothers' U.S. brokerage has reached a settlement with its former derivatives unit that will reduce to $550 million an original claim of $6 billion, according to court documents.
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By Claire Ruckin and Owen Sanderson. LONDON, Oct 4- Spain's Banco Santander is selling a loan portfolio of up to 2.5 billion euros to Bank of America Merrill Lynch, banking sources said on Thursday.
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*Spot prices mixed with Germany's down on more green power. FRANKFURT, Oct 4- Prices along Europe's power forward curve recovered on Thursday, led by oil's rise on Middle East concerns, which spilled over into related fuels, traders said. Germany's annual baseload contract for 2013.
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BERLIN-- Sportswear maker Adidas AG says it's looking into the possibility of setting up an industry fund to help workers in poor countries who are left with no income when suppliers' factories close. Clothing and sportswear companies have faced criticism from labor union groups and others over conditions at suppliers in developing countries.
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FRANKFURT, Oct 4- BASF the world's largest chemicals maker, will cut costs at its construction chemicals unit and sell a Swiss business due to a decline in demand from Southern Europe and Britain, the company said on Thursday.
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*UK gas network undersupplied by 12 mcm/day. LONDON, Oct 4- British prompt gas prices rose on Thursday after a power failure temporarily halted output from Norway's Kollsnes gas processing plant that feeds pipelines supplying the UK.
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FRANKFURT, Oct 4- Swiss private bank Falcon said on Thursday it will buy boutique bank Clariden Leu Europe from Credit Suisse for an undisclosed price. Nearly one year ago, Zurich- based Credit Suisse began to integrate independently-run Clariden Leu, marking an end to a 250- year-old brand.
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FRANKFURT, Oct 4- Swiss private bank Falcon said on Thursday it will buy boutique bank Clariden Leu Europe from Credit Suisse for an undisclosed price. Nearly one year ago, Zurich- based Credit Suisse began to integrate independently-run Clariden Leu, marking an end to a 250- year-old brand.
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ROME, Oct 4- Three companies have expressed interest in the Italian smelter of U.S. aluminium group Alcoa, an Italian junior minister said on Thursday as the Italian government looks around for a buyer for the troubled plant. Alcoa has decided to shut its aluminium smelter in Sardinia, blaming high power prices for undermining its competitiveness.