CREDIT SUISSE Switzerland's finance department has issued an order to Credit Suisse to temporarily suspend certain forms of variable pay for the bank's employees, the Swiss government said. Law firm Pallas Partners and a Swiss counsel are working on possible legal action for some Credit Suisse bond investors whose holdings were wiped out following the bank's takeover by UBS Group AG , Pallas Partners said. One of the largest investors of the Credit Suisse bonds that were wiped out in the UBS takeover of the troubled Swiss bank still believes in the value of the debt class and the "bail-in" system designed to save banks seen as too big to fail.
UBS is set to enter talks with Michael Klein to terminate a deal that would have seen the Wall Street dealmaker take control of much of Credit Suisse's investment bank, the Financial Times reported on Tuesday.
NOVARTIS Novartis scraps drug trial in blow to UK life sciences
ambitions, the Financial Times reported. COMPANY STATEMENTS
*Swiss Prime Site AG said its Annual General
Meeting approved all proposals of the Board Of Directors.
*Talenthouse AG announced the initiation of a
broader corporate restructuring. ANALYSTS' VIEWS
PARTNERS GROUP HOLDING AG : JP MORGAN CUTS TARGET
PRICE TO CHF 822.10 FROM CHF 836.30
KOMAX HOLDING AG : BAADER HELVEA RAISES TO BUY FROM
ADD
BALOISE : HSBC CUTS TARGET PRICE TO CHF 160 FROM CHF
174
BUCHER INDUSTRIES AG : BERENBERG CUTS TARGET PRICE
TO CHF 505 FROM CHF 545
ECONOMY No major Swiss economic data scheduled. (Reporting by Zurich newsroom and Berlin Speed Desk)
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