August 18th in Uncategorized by Editor .

UBS Deal Looks “Favourable”

Handing over client details to authorities who might decide to prosecute them might not normally be seen as good for business. But according to Reuters the landmark settlement of the U.S. tax case against Swiss bank UBS expected this week, should help the bank restore its image.

“The (U.S.) Justice Department summons deal looks favorable for UBS and for Switzerland,” said Vontobel analyst Stefan Schuermann. “However, we remain cautious as long as we do not know the exact figures and details …

Charles Tyrwhitt UK
 

Handing over client details to authorities who might decide to prosecute them might not normally be seen as good for business. But according to Reuters the landmark settlement of the U.S. tax case against Swiss bank UBS expected this week, should help the bank restore its image.

“The (U.S.) Justice Department summons deal looks favorable for UBS and for Switzerland,” said Vontobel analyst Stefan Schuermann. “However, we remain cautious as long as we do not know the exact figures and details of the deal.

Strange times we live in.

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