Switzerland Market Report Headlines

UPDATE 2-Gucci says sales trends still negative but on the mend

* Puma Q3 like for like sales up 6.2 pct (Adds detail, background)

UPDATE 1-MOVES-Luca Laino to join Deutsche Bank leveraged syndicate -sources

LONDON, Oct 23 (IFR) - Deutsche Bank has hired Luca Laino as a director in its leveraged debt capital markets syndicate desk, market sources said on Thursday.

Global regulators agree new capital yardstick for insurers

LONDON, Oct 23 - Global regulators have written the first global capital rule for insurers, marking a key milestone in efforts since the 2007-09 financial crisis to reinforce supervision of the sector.

New Tesco boss starts long journey with small steps

LONDON, Oct 23 - Retail is detail, the industry adage goes, and new Tesco boss Dave Lewis will be hoping investors and shoppers agree after he unveiled a flurry of small tweaks to Britain's ailing No.1 grocer, but not the big rescue plan many think it needs.

Wall Street lifts European shares despite earnings drag

* Strong PMIs from Germany and euro zone support index (Updates with closing prices and no other changes to text)

UPDATE 3-Mexico's Cemex shares rise after acquisitions ruled out

(Rewrites headline, paragraphs 1-5 with details from call)

MOVES-Luca Laino to join Deutsche Bank leveraged syndicate -sources

LONDON, Oct 23 (IFR) - Deutsche Bank has hired Luca Laino as a director in its leveraged debt capital markets syndicate desk, market sources said on Thursday.

UPDATE 1-Swiss banker detained in connection with Hoeness case

* Move connected to Uli Hoeness' tax evasion - prosecutors

11:49am EDT

Key witness, Liechti, testifies in UBS tax evasion trial in Florida

FORT LAUDERDALE, Fla., Oct 23 - A key witness in the federal tax evasion trial of a top Swiss bank executive took the stand on Thursday to testify against his former boss, Raoul Weil, who is accused of conspiring to conceal up to $20 billion in U.S. taxpayers' assets in secret offshore accounts.

Cemex shares up after rules out bid on Lafarge, Holcim assets

MEXICO CITY, Oct 23 - Shares in Cemex extended early gains after the company's CEO on Thursday said the Mexican cement maker is not interested in any assets its rivals Lafarge and Holcim may sell as a result of their proposed merger.

11:11am EDT
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Key retirements mean a changing of the guard next year in U.S. Congress

Regardless what voters decide in the November elections, there will be a major changing of the guard next year in the U.S. Congress as result of a number of key retirements.