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American clients who each hid more than 1 million Swiss francs in undeclared bank accounts with UBS AG between 2001 and 2008 could have their details turned over to the U.S. government, Swiss officials said Tuesday.
A Florida yacht broker who admitted filing a false U.S. tax return and concealing millions of dollars in a secret account at Swiss bank UBS AG was sentenced Friday to two months in prison.
Swiss bank UBS AG reported a third-quarter net loss of 564 million Swiss francs ($542 million) Tuesday, blaming accounting charges of 2.15 billion francs for keeping it in the red.
Asian markets advanced Friday on the back of Wall Street's rally after upbeat economic figures revived confidence about the state of the U.S. economy.
A federal judge Friday rejected a plea for probation from a New York businessman who admitted concealing $8 million in secret Swiss bank accounts, imposing instead a three-month prison term in the high-profile tax evasion case.
Swiss investment bank UBS AG said Tuesday it has named former Merrill Lynch & Co. executive Robert McCann as CEO of its U.S. wealth management unit, replacing Marten Hoekstra, who had held the position since February.
A New Jersey client of the international banking giant UBS AG has pleaded guilty to concealing more than $6 million in assets in Swiss bank accounts.
A banker and a lawyer from Switzerland were indicted Thursday on fraud charges for allegedly helping rich Americans evade taxes by hiding assets in Swiss banks, including UBS AG and a smaller Zurich-based institution.
Wealthy American clients of Swiss bank UBS AG used sham corporations set up in havens from Hong Kong to the British Virgin Islands as part of their efforts to evade U.S. taxes, according to documents filed in Florida and California court cases.
A former banker described by prosecutors as the man most responsible for sparking a broad U.S. investigation into rich Americans' use of secret Swiss bank accounts to evade taxes was sentenced Friday to more than three years in federal prison.
The Swiss and U.S. governments announced a deal Wednesday to settle American demands for the identities of suspected tax dodgers, despite Switzerland's vaunted bank secrecy. But they kept all details under wraps, including how many of the 52,000 names sought by the IRS from banking giant UBS AG will be revealed.
Days before a high-stakes trial with implications for bankers worldwide, the U.S. and Swiss governments said Friday they reached a hard-fought settlement in the U.S. effort to get names of thousands of wealthy Americans suspected of evading taxes by hiding billions of dollars with Swiss banking giant UBS AG.
A New York businessman who last year was talked out of coming clean with the Internal Revenue Service pleaded guilty Tuesday to U.S. tax charges stemming from a wide-ranging investigation into secret accounts at Swiss bank UBS AG.
Negotiations aimed at settling the Internal Revenue Service's tax evasion lawsuit against Swiss bank UBS AG gained traction Monday when a federal judge agreed to postpone the case until early August or possibly longer.
Switzerland's government said Wednesday it would forbid the Swiss bank UBS AG from complying with any court-ordered transfer of data on tens of thousands of American clients to the U.S. government, and would consider seizing documents to prevent that.
Swiss bank UBS AG "systematically and deliberately" violated U.S. law by dispatching private bankers to recruit wealthy Americans interested in evading taxes and must be forced to reveal the identities of 52,000 of those clients, the Justice Department said in a court filing Tuesday.
A wealthy accountant who is the first U.S. citizen charged in a wide-ranging tax probe of Swiss banking giant UBS AG has pleaded guilty to filing a false tax return.
New Hampshire securities regulators accused a unit of banking giant UBS AG of misleading investors about complex securities issued by Lehman Brothers before Lehman filed for bankruptcy protection last year.
UBS AG, the Swiss bank hit hard by the financial crisis and a U.S. legal probe into its American clients' offshore accounts, reported Tuesday a first-quarter net loss of 1.98 billion Swiss francs ($1.73 billion) and said it expects loan losses to keep rising.
The government of Switzerland says an IRS attempt to obtain account information from Swiss bank UBS AG could jeopardize new tax treaty talks with the United States.
Troubled banking giant UBS AG sold its Brazilian business on Monday for about $2.5 billion to BTG Investments in an effort to reduce risk and streamline its operations.
Troubled Swiss banking giant UBS AG said Wednesday that it will slash its global work force of 76,200 people by more than 10 percent as part of across-the-board cost cutting to return to profit after racking up billion dollar losses for yet another quarter.
The second U.S. citizen charged in wide-ranging tax probe of Swiss banking giant UBS AG pleaded guilty Tuesday to filing a false tax return to conceal a secret account at the Swiss bank holding more than $3 million
A wealthy accountant who is the first U.S. citizen charged in a wide-ranging tax probe of Swiss banking giant UBS AG was released from jail Wednesday on $12 million bail.
UBS AG on Monday announced it will replace three members of its board of directors, including billionaire Ernesto Bertarelli, as part of a wave of changes to top management at Switzerland's largest bank.
Massive Layoffs Coming to Wall Street: Trading Firms Facing 35% Employee Cutbacks as Market Pace Slows Kenneth Moelis, the former president of UBS AG's investment bank, said Wall Street firms may have to eliminate as much as 35 percent of employees as leveraged lending dwindles and the pace of mergers and acquisitions slows.
UBS Records a Big Write-Down and Sells a StakeThe investment bank became the latest to seek a lifeline from the East as it wrote down $10 billion in mortgage-related assets.
The New Exxon - PetroChina Shareholders Approve Shanghai Stock SaleAug. 10 (Bloomberg) -- PetroChina Co. shareholders approved a $5.6 billion Shanghai stock sale, agreeing to a plan that will enable China's largest oil producer to close in on Exxon Mobil Corp. as the world's biggest company by market value.
Portugal Telecom may sell Multimedia-sources | Reuters.comPortugal Telecom (PT) has hired investment banks to mull strategic options, including a sale of its PT Multimedia unit, as part of its defence against a 10.7 billion euro ($12.8 billion) takeover bid, sources close to the matter said on Monday.
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