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  • BUENOS AIRES/ NEW YORK, Feb 6- Investors on Saturday praised the speed with which new Argentine President Mauricio Macri made a cash offer to holders of defaulted bonds aimed at ending a long and bitter dispute that has strangled government finances. A financial markets pariah since defaulting on a record $100 billion in 2002, Argentina proposed on Friday a...

  • BUENOS AIRES/ NEW YORK, Feb 6- Investors on Saturday praised the speed with which new Argentine President Mauricio Macri tabled a cash offer to holders of defaulted bonds aimed at ending a long and bitter dispute that has strangled government finances. A financial markets pariah since defaulting on a record $100 billion in 2002, Argentina proposed on Friday a...

  • MILAN, Feb 5- European shares were little changed in choppy trade on Friday with investors reluctant to take up big positions before a key U.S. jobs report that could provide clues on the Federal Reserve's monetary policy outlook. "With the focus on the jobs report in the U.S., we don't expect a very dynamic market today in Europe," Johannes Mayr, head of economic...

  • *BOJ board members told of negative rate plan days before meeting. TOKYO, Feb 4- Just days before the Bank of Japan stunned financial markets with its radical adoption of negative interest rates, members of the central bank's own policy board had also been taken by surprise by the move. That would be in keeping with the single-minded style of central bank Governor...

  • GENEVA— Credit Suisse is cutting roughly 4,000 jobs to reduce costs after announcing a massive pre-tax loss in the fourth quarter that includes "substantial charges which are not reflective of our underlying business performance," the bank said Thursday. It reported a pretax quarterly loss of 6.4 billion, including a 3.8- billion-franc impairment charge...

  • HONG KONG, Feb 4- Property developers and other Chinese firms have shown strong interest to bid for the $1 billion insurance asset of Hong Kong's Dah Sing as they seek diversification from a slowing mainland economy and a weakening yuan, sources with direct knowledge of the matter said. China's fourth-biggest developer, Country Garden Holdings, and its biggest...

  • SAN FRANCISCO, Feb 3- Venture capital firm Index Ventures has raised $1.25 billion to invest in technology startups, in another sign that neither stock market turmoil nor unease in the late-stage investing market has slowed venture fundraising. In addition, Index Ventures disclosed it raised late last year a $700 million fund that will be dedicated to...

  • UPDATE 3-ABB shifts focus in China as demand slumps Wednesday, 3 Feb 2016 | 6:35 AM ET

    *ABB hit by slumping demand in China and from oil customers. ZURICH, Feb 3- Swiss engineer ABB is responding to sluggish demand in China by expanding in the country's western cities and focusing on sales of robotics and high-voltage power equipment, while cutting costs across the group. A cost-cutting programme meant to trim ABB's expenses by some $1 billion...

  • HONG KONG— A Chinese state-owned chemical maker offered to buy Swiss pesticide giant Syngenta for $43 billion in what would be the biggest-ever foreign acquisition by a Chinese company. Basel- based Syngenta said in a statement that ChemChina's cash offer is worth the equivalent of 480 francs a share, including a special 5 franc dividend for shareholders if...

  • WASHINGTON, Feb 2- Malaysian Prime Minister Najib Razak is not among those accused of wrongdoing in an investigation by Switzerland's chief prosecutor into alleged corruption involving the 1 Malaysia Development Berhad sovereign fund, a Swiss official said on Tuesday. Andre Marty, spokesman for the Office of Swiss Attorney General Michael Lauber, said in an...

  • Pacific Biosciences shares were trading up 25 percent at $12.70 in afternoon trading in New York on the news, giving the company a market value of close to $1 billion. Based in Menlo Park, California, Pacific Biosciences focuses primarily on developing and manufacturing systems for gene sequencing. In 2013, Roche, which is based in Basel, Switzerland, penned a...

  • Feb 2- Japan may in the end follow its own advice to China, by implementing capital controls. What is now essentially a currency war in which China, Japan and others fight over the limited supply of external demand may eventually cause dislocations that make highly unorthodox steps like capital controls palatable. While the move is justified by the Bank of...

  • GENEVA/ PARIS, Feb 2- The Zika virus could spread to Africa, Asia and southern Europe, the World Health Organization said on Tuesday, as major French drugmaker Sanofi SA and others joined the race to create a vaccine. A day after Geneva- based WHO declared an international public health emergency due to Zika's association with the birth defect microcephaly in...

  • FOREX-Yen rises as global mood sours again Tuesday, 2 Feb 2016 | 7:46 AM ET

    LONDON, Feb 2- The yen inched higher on Tuesday as another drop in oil and stock markets sent investors back to traditional safe havens, hammering commodity-dependent currencies in the process. The Australian and New Zealand dollars both sank almost 1 percent in midday trade in Europe, while the Canadian dollar and Norwegian crown- both heavily dependent on oil...

  • UPDATE 2- SWEDEN'S EQT AGREES TO PAY PREMIUM FOR KUONI@* Sweden's EQT agrees deal to buy Kuoni* Kuoni board unanimously supports offer* EQT also eyes buying TUI's Hotelbeds unit- sources. The Swiss group said last week EQT was its preferred suitor among several potential bidders wooing it after it sold off European and Asian tour operating businesses last year...

  • *2015 profit up 79 pct to 6.20 billion Swiss francs. ZURICH, Feb 2- UBS reported a surprise outflow of funds from its flagship wealth management business on Tuesday, overshadowing its best annual results since 2010 and a higher than expected dividend payout. The Swiss bank's shares fell 8 percent to hit their lowest in almost a year after it reported a...

  • ABU DHABI, Feb 2- Russia is open to further cooperation in the oil market with OPEC and non- OPEC countries, Russian Foreign Minister Sergei Lavrov said on Tuesday while on a visit to Abu Dhabi. Asked at a news conference whether Russia was open to the idea of a meeting among OPEC and non- OPEC countries to discuss stabilising oil prices, he replied through a translator:.

  • The Zurich- based bank, which nevertheless booked higher fourth quarter profits, cited "very low levels of client activity and pronounced risk aversion" as it reported 3.4 billion Swiss francs had flowed out of its wealth management arm, which handles money from rich people outside the U.S. Fourth-quarter outflows from clients in emerging markets and in Europe...

  • *Proposes 54.0 Sfr dividend per share vs 54.3 Sfr poll avg. ZURICH, Feb 2- Swiss flavours and fragrance maker Givaudan reported a 12.7 percent rise in net profit in 2015 as cost-cutting measures and lower taxes helped offset the impact of weaker sales. Net profit rose to 635 million Swiss francs from 563 million francs a year ago.

  • ZURICH, Feb 1- India's Sun Pharma launched a generic version of Novartis's leukaemia drug Gleevec on Monday in the United States and hopes to poach a third of sales in six months by pricing the copycat some 30 percent cheaper, its Sun's North American chief executive said. Gleevec, or imatinib mesylate, costs up to about $90,000 annually in the United States,...