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  • Insurers are making contingency plans after Britain's vote last month to leave the EU left them facing the risk they could lose "passporting" rights that enable them to sell their products throughout Europe. "We're looking at getting the licences for our EU reinsurance company in Dublin and have an EU insurance company, which will give us some protection for...

  • Insurers are making contingency plans after Britain's vote last month to leave the EU left them facing the risk they could lose "passporting" rights that enable them to sell their products throughout Europe. "We're looking at getting the licenses for our EU reinsurance company in Dublin and have an EU insurance company, which will give us some protection for...

  • A Federal Office of Justice spokesman said Friday that van Gogh's "La Maison de Vincent a Arles" and "Saint- Georges Majeur" and Monet's "Nympheas avec Reflets de Hautes Herbes" were confiscated on Thursday. Justice officials declined to estimate the value of the works, but Christie's Web site says "La Maison de Vincent a Arles" sold for nearly $5.5 million at a New York...

  • *Malaysia Attorney General says no evidence of misappropriation. *Singapore seizes $240 million in 1 MDB-related funds. KUALA LUMPUR/ WASHINGTON, July 21- Malaysian Prime Minister Najib Razak said on Thursday judgment should be withheld until all the facts are known after the U.S. government filed lawsuits seeking to seize $1 billion in assets bought with...

  • DHAKA/ NEW YORK, July 21- Jupiter. That single word, by a stroke of luck, helped stop the Federal Reserve Bank of New York from paying nearly $1 billion to the cyber-criminals behind a notorious bank heist earlier this year, according to sources familiar with the incident. They were incorrectly formatted at first; they were mainly to individuals; and they were very...

  • ZURICH _ ABB Ltd. on Thursday reported second-quarter earnings of $406 million. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 25 cents per share. Three analysts surveyed by Zacks expected $8.74 billion.

  • LONDON, July 21- European stock markets fell on Thursday, weighed down by a drop in the shares of major airlines after Lufthansa issued a profit warning. The pan-European STOXX 600 index and the similar FTSEurofirst 300 were both down by 0.5 percent, with many investors focusing on the European Central Bank's meeting later in the day. We don't own any airline...

  • A 'To Let' letting sign is seen displayed outside a rental property in an area that is popular for buy-to-let properties

    Brexit exposed cracks in U.K. property investments, but there's still opportunity in the market, Pictet Alternative Advisors’ CEO Nicolas Campiche said.

  • AMSTERDAM, July 20- A Dutch court has ordered the confiscation of 123 million euros in assets from a Dutch-based company that prosecutors alleged was used by two telecoms companies to bribe Gulnara Karimova, the elder daughter of Uzbekistan's president, to secure local operating licenses. The Amsterdam court said in a ruling it had found that the company,...

  • GENEVA/ LONDON, July 20- In a packed Christie's auction room in Geneva, one could hear a pin drop as two anonymous bidders slugged it out in their quest to own the world's most exquisite blue diamond. The room in the Four Seasons Hotel des Bergues was filled with multi-millionaire collectors and diamond dealers, listening intently as the bidders, each speaking by...

  • *China says measures to protect environment. BRUSSELS/ BEIJING, July 19- The European Union launched a third legal challenge to restrictions on Chinese exports of 11 key metals and minerals, joining the United States in suing Beijing for unfairly favoring Chinese industry. The bloc is seeking formal consultations with China, the first step in World Trade...

  • GENEVA— The U.N. human rights office is expressing concern about deteriorating human rights, growing violence and "severe shortages" of food, medicine and basic goods in Venezuela. The office of human rights chief Zeid Ra' ad al-Hussein points to reports of rising protests demanding access to food, the arrest of hundreds of demonstrators and excessive use of...

  • GENEVA— The European Union on Tuesday launched dispute proceedings against China in the World Trade Organization over import duties and other alleged measures involving raw materials. After similar action against China by the U.S. last week, the EU announced the move alleging China's measures violate WTO rules, distort the market and unfairly favor Chinese...

  • *China says measures to protect environment. BRUSSELS/ BEIJING, July 19- The European Union launched a third legal challenge on Tuesday to restrictions on Chinese exports of 11 key metals and materials, joining the United States in suing Beijing for unfairly favoring Chinese industry. The bloc is seeking formal consultations with China, the first step in World...

  • BASEL, Switzerland _ Novartis AG on Tuesday reported second-quarter net income of $1.81 billion. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.18 per share. Novartis shares have dropped roughly 5 percent since the beginning of the year.

  • GENEVA— Swiss pharmaceuticals company Novartis says its net profit fell 4 percent in the second quarter, largely because of new generic competition for its top cancer drug, though it expressed high hopes for a psoriasis drug that has turned out to be one of its best product launches ever. That will depend largely on the expected continued slide in sales for the...

  • UBS

    Latest attempt by cash-strapped European nations to pierce the secrecy of Swiss banks in the hope of boosting depleted coffers, the FT reports.

  • Data on Monday showed home price rises in China slowed in June for a second straight month, adding to fears that a construction-led rebound in the economy may not be sustainable. "This slowing increase in Chinese house prices we've seen over the weekend puts the focus back on the medium to longer term issues which is oversupply in the real estate market," said...

  • Data on Monday showed home price rises in China slowed in June for a second straight month, adding to fears that a construction-led rebound in the economy may not be sustainable. "This slowing increase in Chinese house prices we've seen over the weekend puts the focus back on the medium to longer term issues which is oversupply in the real estate market," said...

  • *Net profit 368 mln francs vs analysts' 347 mln francs. Net profit rose to 368 million Swiss francs in the six months to June 30 from a restated 342 million francs a year earlier. The Geneva- based company, whose flavors are used by food groups like Nestle, Unilever and Danone, said sales rose to 2.33 billion francs from 2.18 billion francs.