Swiss Franc News
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Sixty-six magnums of Chateau Mouton- Rothschild spanning the period from 1945 to 2008 fetched 257,400 Swiss francs ($266,000) at a Christie’s International Plc wine auction in Geneva this week which raised $3.96 million.
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European stocks rose for a fourth week as earnings from Cie. Financiere Richemont SA to ICAP Plc beat analyst estimates and the Bank of England lifted its growth forecast for Europe’s third-biggest economy.
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Swiss insurers, including Zurich Insurance Group AG and Swiss Life Holding AG, may lobby the government to sell more long-term bonds as new solvency rules force them to match life insurance liabilities.
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U-blox AG, a Swiss maker of positioning-system chips, rose to the highest price in more than two years after agreeing to work with Intel Corp. to make smaller 3G modems.
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Swiss stocks declined as a Federal Reserve policy maker said the central bank may reduce its monthly bond purchases as early as this summer, and investors awaited U.S. data on leading indicators and consumer sentiment.
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Money manager Tim McCarthy has worked in the U.S., Russia and Switzerland, and has seen doctors in all three countries for Hashimoto disease, a condition in which his immune system attacks his thyroid. He has no doubt which health system is best.
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European stocks were little changed, after the benchmark Stoxx Europe 600 Index yesterday extended its highest level since June 2008.
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Swiss stocks declined from their highest level since January 2008 as Zurich Insurance Group AG reported earnings that missed analysts’ estimates.
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Cie. Financiere Richemont SA Chairman and controlling shareholder Johann Rupert will take a year off, leaving management of the world’s second-biggest luxury-goods company to a team of executives including Cartier’s former CEO.
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Harry Winston, the watch and jewelry brand that Swatch Group AG acquired this year, yesterday paid a record $26.7 million for a colorless diamond in Geneva.
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