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Sunday, 05 July 2009
International Herald Tribune
Tearing a hole in the veil of secrecy surrounding Swiss banking, UBS agreed on Wednesday to pay $780 million to settle federal claims that it helped wealthy Americans evade taxes and to disclose the names of up to 19,000 clients. Under the agreement, the bank will not have to pay additional fines and penalties that could have brought its deal to more than $1 billion....
In this Sept. 17, 2008 file photo the lLogo of Swiss bank UBS is seen in Zurich, Switzerland. Swiss bank UBS AG said Tuesday, Feb. 10, 2009 it lost 8.1 billion Swiss francs (U.S. dlrs 7.57 billion) in the fourth quarter and announced it would cut a further 2,000 jobs as it refocuses on its home market after a troubled year abroad. The results exceeded the fears of analysts, who on average had predicted net losses of 6.2 billion francs (U.S. dlrs 5.79 bil
photo: AP / Keystone, Alessandro Della Bella, File


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