The state House advanced a taxing measure Monday to levy a pot tax in excess of 25 percent, a reduction from the 30 percent rate lawmakers considered last week.

The proposal sparked a lively floor debate over the proper tax rate for a drug that's never been taxed before. Democrats argued that voters want high pot taxes, and that consumers will gladly pay a premium for the assurances that would come from a regulated and legal drug supply.

"We need to responsibly tax it," said the measure's sponsor, Rep. Jonathan Singer, D-Longmont.

He predicted Colorado voters would happily sign off on marijuana taxes. Colorado law requires voters to approve new taxes.

Republicans argued against the taxes, though. They pointed out that Colorado voters have a history of rejecting tax hikes, even for popular public programs, and that the public's desire for a marijuana windfall may not materialize unless the tax rate is lower.

The result posted by Switzerland's biggest bank, headquartered in Zurich and Basel, Switzerland, caused shares to jump to 16.5 francs soon after trading began.

Though net profit was down 4.5 percent from the comparable period a year ago, the result was nonetheless a significant recovery from the $2 billion loss the bank posted for the fourth quarter of 2012 in the wake of a series of major lawsuits, scandals and a wave of restructuring.

"While it is too early to declare victory, we have shown our business model works in practice," Chief Executive Sergio Ermotti said. "Although markets improved, we still saw challenges, so I am very pleased with our performance."

Ermotti said the bank's capital cushion as demanded by global and Swiss regulations rose to 10 percent "and our leading capital cushion continues to be a competitive advantage for the bank."