Investors bet on Thursday the United States would not go as far as shutting down UBS in a dispute over tax, instead expecting the Swiss bank to be hit by a hefty fine as part of a swift out-of-court settlement, Reuters reports.
Shares in UBS were higher midmorning after a U.S. judge late on Wednesday ordered the U.S. government to say if it was prepared to seize the bank's assets in the United States, and were roughly in line with the European bank sector. Full story...
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