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Europe Top News and Analysis Switzerland

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    Credit Suisse beat expectations with second-quarter earnings of 1.2 billion Swiss francs ($1.16 billion) as it managed more funds for the world's wealthy and said it was coping well with a global credit crunch.

  • Swiss agrochemicals company Syngenta posted a better-than-expected 25 percent rise in first-half net profit and raised its guidance for 2008 and 2009, citing buoyant agricultural markets and good prospects for the southern hemisphere planting season.

  • Swiss engineering group ABB met forecasts with a 34 percent jump in second-quarter net profit and raised its 2008 guidance for its automation activities on Thursday.

  • UBS headquarters in Zurich, Switzerland.

    Swiss bank UBS will discontinue offshore banking and securities services to U.S. residents through its branches, a UBS executive said Thursday at a congressional hearing on offshore tax havens.

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    Second-quarter net profit at Novartis rose 17 percent to $2.27 billion, helped by the weak U.S. dollar and cost cutting efforts, beating forecasts and boosting its shares.

  • Swiss Re said it had $9.6 billion exposure to the debt of U.S. mortgage financers Freddie Mac and Fannie Mae, renewing fears over its vulnerability to the credit crunch and sending its shares down.

  • Swiss authorities could require UBS and Credit Suisse to set aside an additional 70 billion Swiss francs ($68.29 billion) in capital, a newspaper reported on Sunday, citing lawmakers.

  • A federal judge in Miami authorized the Internal Revenue Service to request information from UBS about U.S. taxpayers who may be using Swiss bank accounts to evade federal income taxes, the U.S. Justice Department said Tuesday.

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    UBS failed to address nagging concerns about further possible writedowns on Tuesday, dishing out instead a restructuring of top management and sending shares to a fresh 10-year low.

  • The U.S. Justice Department said it asked a federal court in Miami for an order authorizing the Internal Revenue Service to request information from Zurich-based UBS about U.S. taxpayers who may be using Swiss bank accounts to evade federal income taxes.

  • Investors took fright on Monday that UBS could face further losses and sent it stocks tumbling to a 10-year low after news the Swiss bank might sell off the heart of its U.S. wealth management business.

  • UBS headquarters in Zurich, Switzerland.

    Beleaguered Swiss bank UBS is considering the sale of Paine Webber, the heart of its U.S. wealth management business, according to sources with direct knowledge of the matter.

  • A new kind of contract, which would be renewed each year, will allow companies to buy a full shipment of Tamiflu at the prevailing wholesale price.

  • Massachusetts authorities sued two subsidiaries of Swiss bank UBS Thursday, charging they misled investors about how safe auction rate securities were.

  • Activist investor Olivant has raised its stake in Swiss bank UBS to 2.5 percent and said on Wednesday it had fully supported the recent rights issue.

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    UBS has wrapped up a 16 billion franc ($15.4 billion) rights issue, the Swiss bank's second effort to resuscitate finances that have been ravaged by the global markets crisis.

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    Irish baker IAWS is buying Swiss peer Hiestand in a deal worth around 4 billion Swiss francs ($3.93 billion) to form one of the world's biggest baked good companies.

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    Unfortunately, for a huge number of companies across the world, the English national football team is not very good and has failed to qualify for Euro 2008, which kicks off in Switzerland on Saturday.

  • Investors wary about the recent volatility in the market should focus on stocks that pay dividends, according to David Costa, dean of Robert Kennedy College in Zurich.

  • Switzerland’s leading stock index, the SMI, has fallen more than 21 percent over the last twelve months, but investment opportunities are emerging with certain large-cap well-positioned stocks such as Roche and Swatch, Maximilian Muench, head of Swiss equities research at UBS told CNBC.