swiss bank

Swiss bank UBS AG posted a fourth-quarter profit of 1.205 billion Swiss francs ($1.12 billion) Tuesday, beating analysts' expectations partly thanks to a tax credit, but said rich clients' withdrawals had continued.

Swiss bank UBS AG will inform American clients whether their bank accounts are among the 4,450 that will be revealed to the U.S.

Justice Department in a tax evasion investigation.

The United States is building criminal cases against more than 150 American clients of Swiss bank UBS as part of a crackdown on tax evasion now made easier by a deal over access to secret account information.

Swiss Bank Reveals 4,450 Accounts To U.S. Share + Aug 19, 2009 7:35 am US/Pacific Swiss Bank Reveals 4,450 Accounts To U.S.

WASHINGTON Swiss banking giant UBS AG agreed Wednesday to turn over to the IRS the details of 4,450 accounts suspected of holding undeclared assets by American customers, ending an intense trans-Atlantic legal fight.

Hard-hit Swiss bank UBS AG, beset by a U.S. tax evasion probe, posted a second quarter loss of 1.4 billion Swiss francs ($1.3 billion) Tuesday in an improvement over the first three months of the year.

A federal judge is Florida is canceling a planned trial for Swiss bank UBS after the Swiss and U.S. governments struck a deal over allegations that Americans hid money overseas.

Another client of Swiss bank UBS AG has pleaded guilty to U.S. tax charges in Florida.

Swiss bank Credit Suisse Group has reported a 29 percent rise in second-quarter net profit to 1.57 billion francs ($1.41 billion).

Swiss bank Credit Suisse Group on Thursday reported a 29 percent increase in second quarter net profit after a strong performance in its investment unit drove up core revenues.

A federal judge agreed to delay a hearing on an effort by U.S. prosecutors to force the Swiss bank UBS to turn over the names of wealthy American account holders suspected of offshore tax evasion.