By Katharina Bart ZURICH (Reuters) - Switzerland cleared the first hurdle towards ending a long-running U.S. tax probe after one chamber of lawmakers voted to allow banks to sidestep strict secrecy laws to end the threat of criminal charges for helping wealthy Americans evade tax. The draft law is set to face far tougher opposition in Switzerland's lower house next week than in the upper chamber, which passed it by a decisive 24 votes to 15 on Wednesday.

By Olivia Oran and Alistair Barr (Reuters) - Textbook rental company Chegg has selected two banks to lead an initial public offering, according to three sources familiar with the matter. The Santa Clara, California-based company has picked JPMorgan Chase & Co <JPM.N> and Bank of America Corp <BAC.N>, the sources said. The offering could raise $200 million, one of the sources said. JPMorgan and Bank of America declined to comment. Chegg could not be reached for comment.

LONDON (Reuters) - The chief executive of hedge fund lobby the Alternative Investment Management Association, Andrew Baker, will step down at the end of 2013, AIMA said on Wednesday. Baker, who has been in the job since the start of 2009, will remain until his successor - who AIMA is in the process of identifying - has begun work. Baker said in a statement he was "looking forward to future challenges" but did not specify what he planned to do next.

ZURICH (Reuters) - Swiss lawmakers agreed on Wednesday to consider a bill that would let the country's banks sidestep strict secrecy laws to end a long-running United States tax probe, rejecting calls for the legislation to be killed. Five months after U.S. action over tax evasion led to the closure of Switzerland's oldest private bank, and with formal investigations under way into some of its biggest institutions, the Swiss government wants a compromise to end threats of criminal charges that have hurt a vital national industry.