Financial Transparency Coalition

ZURICH -- The Swiss cabinet held an extraordinary meeting on UBS AG's problems with U.S. tax authorities, a move that could signal Switzerland is close to bowing to the U.S. on demands to hand over data.

Finance Minister Hans-Rudolf Merz says using emergency laws is not an option as negotiations on a settlement between the American tax authorities and UBS continue.

ZURICH (Reuters) - The Swiss government held a special session on Monday to discuss the U.S. tax evasion case hanging over Swiss bank UBS as negotiations to settle the issue dragged on.

The trial in the U.S. government's landmark challenge to Swiss bank secrecy was postponed Friday for a third time as the United States and Switzerland continue to pursue a negotiated settlement.