Europe Top News and Analysis Switzerland

  • LONDON, May 25- The contest to replace Theresa May as British prime minister hotted up on Saturday with six candidates now vying for a job whose central task will be to find a way to take a divided Britain out of the European Union. Former foreign minister Boris Johnson, current foreign minister Jeremy Hunt, International Development Secretary Rory Stewart and...

  • LONDON, May 25- The contest to replace Theresa May as British prime minister hotted up on Saturday with five candidates now vying for a job whose central task will be to find a way to take a divided Britain out of the European Union. British health minister Matt Hancock became the latest figure to join the contest to replace May, following former foreign minister...

  • *May to step down as Conservative Party leader on June 7. Former foreign minister Boris Johnson, the favourite to replace May, was first out of the blocks, saying Britain should be prepared to leave the EU without a deal to force the bloc to offer a "good deal". Current foreign minister Jeremy Hunt also confirmed he would run for the leadership just hours after May, her...

  • *May to step down as Conservative Party leader on June 7. Former foreign minister Boris Johnson, the favourite to replace May, was first out of the blocks, saying Britain should be prepared to leave the EU without a deal to force the bloc to offer a "good deal". Current foreign minister Jeremy Hunt also confirmed he would run for the leadership just hours after May, her...

  • U.S. Commerce Secretary Wilbur Ross.

    The U.S. Commerce Department said its proposed rule would amend the normal countervailing duty process to include new criteria for currency undervaluation.

  • GENEVA, May 23- Governments are working on a drug pricing transparency deal at the World Health Organization's annual assembly, but activists said on Thursday they fear crucial costs may be left out, enabling pharmaceutical firms to keep prices high. The draft, a work in progress with many proposed changes to the text, could also mandate the WHO to collect and...

  • NEW YORK, May 23- The dollar hit its highest level in two years and the yen rose half a percent on Thursday as economic and political uncertainties swept through Europe and Asia, pinning down the euro and the yuan. "The greenback and safer rivals from Japan and Switzerland were in the driver's seat." While the United States is not without its own worries- namely trade...

  • GENEVA, May 21- Doubts about vaccines have spread across social media like a disease and false information that "kills people" should be taken down by the companies running digital platforms, the head of global vaccine alliance Gavi said on Tuesday. Speaking at a U.S.-sponsored event on the sidelines of the World Health Organization's annual assembly in Geneva,...

  • *Trump: conflict would be "official end" of Iran. President Donald Trump issued a new threat to Tehran on Sunday, tweeting that a conflict would be the "official end" of Iran, as Saudi Arabia warned it stood ready to respond with "all strength" and said it was up to Iran to avoid war. "If Iran wants to fight, that will be the official end of Iran.

  • *Iran says it does not want war. RIYADH, May 19- Saudi Arabia said on Sunday it wanted to avert war in the region but stood ready to respond with "all strength" following last week's attacks on Saudi oil assets, telling Iran that the ball was now in its court. Riyadh has accused Tehran of ordering Tuesday's drone strikes on two oil pumping stations in the kingdom, claimed...

  • ZURICH, May 17- Facebook has set up a new financial technology company in Switzerland focusing on blockchain and payments as well as data analytics and investing, Geneva's commercial register shows. Libra Networks, with Facebook Global Holdings as stakeholder, was registered in Geneva on May 2 to provide financial and technology services and develop related...

  • ZURICH, May 17- Switzerland is preparing to part-privatise Axpo, the country's largest electricity producer, by allowing private investors to buy up to 49% of the company, documents published by local government authorities show. The proposed changes, part of wider Swiss market liberalisation plans and posted in documents this month by the canton of Thurgau,...

  • ZURICH, May 17- Switzerland is preparing to part-privatize Axpo, the country's largest electricity producer, by allowing private investors to buy up to 49% of the company, documents published by local government authorities show. The proposed changes, part of wider Swiss market liberalization plans and posted in documents this month by the canton of Thurgau,...

  • *Double-digit growth in mainland China, U.S. ZURICH, May 17- Luxury goods group Richemont reported weak profitability in its watch business and online distributors in its past financial year, taking the shine off a solid sales performance in China and the United States. Richemont, known for Cartier jewelry and IWC watches, reassured investors on demand in these...

  • President Donald Trump is keen to advance talks with Switzerland on a free trade deal, Swiss President Ueli Maurer told reporters in Washington after the first visit by a Swiss president to the Oval Office. Switzerland, the seventh largest foreign investor in the United States with $309 billion, is keen to expand economic ties with the United States, said Maurer,...

  • *Nestle starts exclusive talks with EQT, ADIA on Skin Health. *Transaction worth 10.2 billion Swiss francs set to close in H2. ZURICH/ FRANKFURT, May 16- Nestle has entered exclusive talks to sell its skin health business to a consortium led by EQT Partners for 10.2 billion Swiss francs, as the food group shifts its portfolio in response to changing consumer demands.

  • LONDON, May 16- Weakening rules for banks and insurers after Brexit would be "anathema", but Britain could change its style of regulating to respond faster to change, Bank of England Deputy Governor Sam Woods said on Thursday. The bulk of rules applied in Britain come from the European Union, and some lawmakers say Brexit would allow Britain to revise its rules to...

  • TOKYO, May 16- Japan's government is considering downgrading its assessment of the economy next week as the intensifying Sino-U.S. trade war takes a toll on exports and factory output, a government source with direct knowledge of the matter told Reuters on Thursday. A downgrade in the crucial monthly report could fuel speculation that Prime Minister Shinzo...

  • TOKYO, May 16- A former economic adviser to Japanese Prime Minister Shinzo Abe said on Thursday that an increase in sales tax planned for October should be shelved until the economy puts a decisive end to deflation, or it could trigger an economic crisis. "Now is not the time for a sales tax hike," Etsuro Honda, former Japanese ambassador to Switzerland who is close to...

  • *Nestle starts exclusive talks with EQT, ADIA on Skin Health. *Transaction worth 10.2 billion Swiss francs set to close in H2. ZURICH, May 16- Nestle SA has entered exclusive negotiations to sell its skin health business to a consortium led by EQT Partners and Abu Dhabi's ADIA in a deal worth 10.2 billion Swiss francs, it said on Thursday.