Europe Top News and Analysis Switzerland

  • *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...

  • 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.

  • ZURICH, July 18- Swiss flavors and fragrance maker Givaudan on Monday reported first-half profit above estimates and said it expected to grow faster than the rest of the market in the medium term. Net profit rose to 368 million Swiss francs in the six months ended June 30 from a restated 342 million francs a year earlier. The Geneva- based company, whose flavors are...

  • SINGAPORE, July 17- Singapore's central bank is scrutinising several banks, including UBS and DBS Group Holdings, to see if they broke anti-money laundering rules in handling transactions linked to scandal-hit Malaysian state fund 1 MDB, three people with knowledge of the matter said. Switzerland's Falcon Private Bank and Coutts International, which is...

  • July 15- Silent Circle, a Geneva- based pioneer in securing mobile communications, said on Friday it has raised $50 million in a Series C financing round led by Santander Bank as it looks to reinvent itself as an enterprise-focused business. Silent Circle launched an app for encrypting mobile communications in 2012 and a highly secure device known as the...

  • July 15- Silent Circle, a Geneva- based pioneer in the field of securing mobile communications, said on Friday that it has raised $50 million in a Series C financing round led by Santander Bank. Silent Circle launched an app for encrypting mobile communications in 2012 and a highly secure device known as the Blackphone in 2013 to much fanfare from privacy...

  • *Swiss exporters concerned about stronger franc versus euro. ZURICH, July 15- When Britain voted to leave the European Union, "I thought' Oh, no," said Oliver Mueller, chief executive of an association of Swiss manufacturers who are acutely aware of how much their strong currency is hurting them. The Swiss National Bank is well used to selling its currency and when the...

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    Swatch Group warned investors that profit would at least halve in the first half of 2016 as sales fell in Hong Kong and Europe.

  • LONDON/ ABU DHABI, July 14- Many areas of Yemen are close to famine partly because importers are unable to buy new food stocks from abroad as over $200 million is stuck in banks due to the civil war disruption, trade and aid sources involved say. Western banks had already cut credit lines for traders shipping food to Yemen, fearing they would not be repaid due to the...

  • Multiple weather events in the United States, which included hail storms in Texas, earthquakes in Japan and Ecuador, floods in Europe and wildfires in Fort McMurray in Canada were among the natural catastrophes covered in the company's loss estimate. The Zurich- based insurer said on Tuesday it expects pre-tax losses to total $390 million in the second quarter,...

  • *IMF cuts Italy, France growth forecasts. PARIS, July 12- International institutions downgraded their outlooks for the euro zone economy on Tuesday following Britain's shock vote to leave the European Union but said the real impact of Brexit will hinge on how political leaders handle future talks with London. The warning came on the day the International...

  • LONDON, July 7- Global banking lobby groups campaigning to soften a key rule on bank capital got a boost this week when the Bank of England recommended amending these regulations. The Bank of England, among the more hawkish regulators since the 2007-09 financial crisis and a Basel member, expressed concern on Tuesday about the way ratio is calculated.

  • *London is second-biggest offshore yuan payments hub after HK. *Luxembourg, Paris, Frankfurt, Dublin may gain in yuan race. "We expect London to keep its status as the world's largest foreign exchange center though some of the city's other financial services may have the risk to be moved to other countries following Brexit," said Andrew Fung, head of global banking...

  • *London is second-biggest offshore yuan payments hub after HK. *Luxembourg, Paris, Frankfurt, Dublin may gain in yuan race. "We expect London to keep its status as the world's largest foreign exchange centre though some of the city's other financial services may have the risk to be moved to other countries following Brexit," said Andrew Fung, head of global banking...

  • *UK housebuilders drop after poor industry data. European stocks rose last week as expectations grew that European central banks would step in to support markets spooked by Britain's vote to leave the European Union. But both indexes remain below levels reached before the vote, which triggered worries about the political and economic outlook for Europe,...

  • *Mining stocks index leads sectoral fallers in Europe. *UK housebuilders drop after poor industry data. But both indexes remain below levels reached before the UK vote, which triggered worries about the political and economic outlook for Europe, weighing particularly on peripheral countries such as Italy and financial stocks.

  • ZURICH, July 2- Swiss drugmaker Roche plans to cut around 350 IT jobs by the end of 2017, a spokesman said on Saturday, confirming a report by the Basler Zeitung newspaper. Roughly 100 positions will be cut in Switzerland with another 100 in the United States, the spokesman said, adding the rest of the cuts would be spread across a number of countries, mostly in Europe.

  • *Britain's FTSE ends June on 2016 high. MILAN, June 30- European shares rose for a third straight session on Thursday, with expectations of central bank stimulus helping ease jitters over Britain's vote last week to exit the European Union. "Investors are expecting more central bank stimulus and this explains why European shares are rebounding," said Yann Quelenn,...