Swiss authorities say one of the seven Fifa officials arrested in Zurich as part of an American corruption probe has agreed to be extradited to the United States.

Swiss prosecutors investigating corruption at Fifa have identified 53 suspicious bank transactions, the attorney general said, stressing that a complex investigation may take a long time to unfold.

HSBC chief executive Stuart Gulliver has apologised to MPs for “unacceptable” practices at the bank’s Swiss subsidiary which he said had caused “damage to trust and confidence” in the company.

The yen and Swiss franc gained yesterday on haven demand after Ukrainian troops attacked and destroyed "part" of a military column that entered the country from Russia, Ukraine said.

Switzerland’s defence minister said it was “unthinkable” that his country’s accords with the EU would be terminated as result of a referendum to curb immigration, saying threats of retaliation by the bloc were overblown.

Swiss voters have narrowly backed proposals to reintroduce immigration quotas with the EU, Swiss television reported — a result that calls into question bilateral accords with the EU and could irk multinational companies.