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  • *Credit Suisse Q1 net profit 859 mln Sfr vs poll 1.155 bln. ZURICH, April 16- Credit Suisse's said on Wednesday first-quarter net profit fell by more than a third due to a big drop in bond trading revenues, increasing pressure on CEO Brady Dougan to make deeper cuts to its investment banking business.

  • France targets welfare for big spending cuts Wednesday, 16 Apr 2014 | 8:18 AM ET

    PARIS— France's prime minister has announced plans to cut 21 billion euros from pensions, social care and health care as a part of a 50- billion-euro effort to rein in the country's debt and deficit.

  • LONDON, April 16- The European Medicines Agency warned on Wednesday that vials of Roche's breast cancer drug Herceptin, thought to have been stolen from hospitals in Italy, have been tampered with and reintroduced into the supply chain. In a separate statement Roche said that counterfeit Herceptin has been discovered in Britain, Finland and Germany.

  • *Tension rises on eve of four-power talks on Ukraine in Geneva. *Moscow, Kiev trade charges of "civil war" and "terrorism".

  • PARIS, April 16- France vowed on Wednesday to honour its Europeans commitments on deficit reduction and rushed out details of its grand plan to curb public spending by 50 billion euros between 2015 and the end of President Francois Hollande's term in 2017..

  • MOSCOW, April 16- Russia is looking at the possibility of filing a lawsuit against the United States in the World Trade Organisation over sanctions hitting Russian banks, Economy Minister Alexei Ulyukayev said on Wednesday, according to Russian news agencies.

  • BRUSSELS— NATO says it's reinforcing its military presence on eastern border on sea, land and in the air.

  • European shares bounce back as Chinese data reassures Wednesday, 16 Apr 2014 | 7:00 AM ET

    *Euro STOXX 50 up 1 pct, moves back above 50- day moving average. PARIS, April 16- European shares rose on Wednesday, reversing the previous session's slide as economic growth data from China came a touch above forecasts. French utilities Veolia Environnement and Suez Environnement both surged around 3 percent, boosted by merger speculation.

  • *Gold steadies near 200- day moving average at $1,300. LONDON, April 16- Gold prices steadied on Wednesday after falling nearly 2 percent in the previous session, underpinned by escalating tensions in Ukraine but still under pressure from a weak chart picture and concerns over a slowdown in Chinese demand.

  • Hoeness tax case has Germans dashing to confess Wednesday, 16 Apr 2014 | 5:34 AM ET

    BERLIN— The high-profile tax evasion trial against former Bayern Munich president Uli Hoeness has prompted a surge in the number of Germans turning themselves in to authorities for failing to properly declare their taxes.

  • Hypo bank woes poison the mood in Austria Wednesday, 16 Apr 2014 | 4:58 AM ET

    VIENNA, April 16- Hypo Alpe Adria, the state bank whose woes will swell Austria's debt and deficits this year, is morphing into a national bogeyman for a country fed up with the lender's chronic need for support and policymakers' failure to resolve the issue.

  • *Tension rises on eve of four-power talks on Ukraine in Geneva. *Moscow, Kiev trade charges of "civil war" and "terrorism".

  • BEIJING/ WASHINGTON, April 16- China rejected on Wednesday a warning from the Obama administration that its currency was too weak, urging the United States to recognise that China aims to "perfect and regulate" the exchange rate system.

  • Oil nears $105 as conflict in east Ukraine deepens Wednesday, 16 Apr 2014 | 4:20 AM ET

    The price of oil approached $105 a barrel Wednesday as concerns grew over the crisis in Ukraine, which took military action against separatists in its east. Officials from the U.S., Russia, Ukraine and the European Union are set to meet in Geneva on Thursday for negotiations aimed at persuading Russia to back off in Ukraine following its annexation of Crimea.

  • Mercedes to revive luxury Maybach brand Wednesday, 16 Apr 2014 | 3:42 AM ET

    FRANKFURT, April 16- Daimler is set to revive Maybach, a brand once coveted by oligarchs, rap stars and royals, to woo a growing class of ultra-wealthy clients in Asia and the United States, a person familiar with the company's plans said.

  • KRAMATORSK, Ukraine, April 16- Ukrainian forces tightened their grip on the eastern town of Kramatorsk on Wednesday after securing control over an airfield from pro-Russian separatist militiamen, prompting Russian President Vladimir Putin to warn of the risk of civil war.

  • ASML sees lull in orders from computer chip makers Wednesday, 16 Apr 2014 | 2:34 AM ET

    AMSTERDAM— ASML Holding NV, the largest supplier of equipment to computer chip makers such as Intel and Samsung, says it sees only incremental sales gains in the coming two quarters. Without specifying which companies or products, ASML said chipmakers are "encountering timing uncertainties in next-generation device designs."

  • Credit Suisse profits down 34 percent Wednesday, 16 Apr 2014 | 1:49 AM ET

    FRANKFURT, Germany— Swiss bank Credit Suisse says its net profit fell 34 percent in the first quarter, more than expected, as bond-market woes hurt earnings at its investment banking business. Profit dropped to 859 million Swiss francs from 1.303 billion francs in the same quarter a year ago.

  • WASHINGTON, April 16- A U.S. government watchdog on Wednesday warned that big banks have dramatically boosted their borrowing from a federal housing finance program, a move that could pose risks to the government-sponsored system if a big borrower defaulted.

  • DIARY - Top Economic Events to April 29 Tuesday, 15 Apr 2014 | 8:01 PM ET

    TOKYO- Bank of Japan Governor Haruhiko Kuroda speaks at the Japan Trust Banks Association- 0615 GMT. LJUBLJANA- Slovenia Finance Minister Uros Cufer speaks at a business conference on the European and Slovenian banking sector- 0700 GMT.

Most Popular Video

Wednesday, 16 Apr 2014 | 3:00 AM ET

European shares opened higher on Wednesday as better-than-expected Chinese growth data buoyed sentiment.

Wednesday, 16 Apr 2014 | 2:00 AM ET

Brady Dougan, CEO of Credit Suisse, says the bank's fixed income business is "strong", while the investment banking arm has performed well.

Tuesday, 15 Apr 2014 | 7:31 PM ET

Hiroshi Miyoshi, Mitsubishi CEO for Turkey and Central Asia, describes Turkey's appeal to Japanese firms, who invested $500 million in the emerging market last year.