Zurich Financial gains on nursing home settlement
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LONDON (CBS.MW) -- Zurich Financial (ZZ:001107539) gained 2.6 percent in Swiss trade after agreeing to settle US nursing home litigation by paying $47.5 million.
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Zurich Financial Services AG, Switzerland s biggest insurer, said first-half profit almost doubled as higher stock markets resulted in lower reserve additions and investment writedowns.
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The Swiss housing market offers good value for money both in domestic and international terms, according to a report published on Thursday.
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The Swiss National Bank on Friday  released terms of its temporary term auction facility:
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SAN FRANCISCO (CBS.MW) -- Three US-based mutual-fund units of German insurance giant Allianz will pay $50 million to settle allegations that they defrauded investors in a market-timing scheme, regulators said Monday.
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The estate of Kenneth L. Lay agreed to pay $12 million to settle claims on behalf of participants in company pension plans.
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Credit Suisse Group Inc.  will pay Enron Corp. creditors $61.5 million to settle a lawsuit related to equity transactions, the successor to the bankrupt energy trader said on Friday.
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Swiss pharmaceutical maker Novartis AG said Tuesday it has received U.
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Insurer Coventry Health Care Inc  on Friday posted a 14 percent increase in third-quarter profit, in line with Wall Street's target, as membership grew in its Medicare plans for the elderly.
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A settlement of an inquiry into Lillyâs marketing of the antipsychotic drug Zyprexa could result in the company paying more than $1 billion to federal and state governments.
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Credit Suisse will seek to launch a  share buyback plan worth up to 6 billion Swiss francs ($5  billion), it said on Thursday, after reporting a better than  expected 22 percent rise in fourth-quarter net profits.
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Credit Suisse Group aims to launch a  share buyback worth up to 6 billion Swiss francs ($5 billion)  after fourth-quarter net profit rose a better-than-expected 22  percent, the bank said on Thursday.
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Credit Suisse Group (CSGN.VX: Quote, Profile, Research) posted forecast-beating third-quarter earnings on Thursday, as solid insurance income and one-off tax gains
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BASEL, Switzerland  - Net profit at Roche Holding AG  rose 34 percent to 9.17 billion Swiss francs ($7.33 billion) in 2006 due to strong sales of cancer treatments Herceptin and Avastin, just ahead of analysts' expectations.
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The California Public Employees' Retirement System, the largest US pension fund, agreed to disclose the fees it pays to venture capital and hedge fund managers as part of a legal settlement.
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Insulated from lawsuits by their corporate structures, large private investors in nursing homes have cut jobs and other expenses.
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BASEL, Switzerland  - Net profits at Novartis AG  rose by a lower-than-expected 15 percent last year as  restructuring costs weighed, the company reported on Thursday,  but the world's sixth biggest drugmaker said it expects record  sales and profits in 2005.