Investors bet on settlement in UBS tax dispute
July 9th, 2009
Reuters
ZURICH – Investors bet on Thursday the United States would not go as far as shutting down UBS AG (UBSN.VX) there in a tax dispute, instead expecting the Swiss bank to be hit by a hefty fine as part of a swift out-of-court settlement.
UBS’s shares were higher 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.
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