Swiss bank UBS is pressing Swiss lawmakers to endorse a deal settling tax evasion litigation with the United States, warning that 20 other Swiss banks could be targeted if it fell through. In a document seen by AFP on Friday, UBS told parliament that accepting the deal was "in the interest of the Swiss economy." It noted that US tax ...

Embattled UBS AG has warned that Switzerland's financial industry is at risk unless lawmakers approve a tax treaty with the U.S., and that other Swiss banks may be next to face pressure from American regulators. In a letter to parliamentarians, the banking company ...

ZURICH (Reuters) - Switzerland's UBS has warned parliamentarians failure to back a deal to end its bitter U.S. tax row with the bank could result in a damaging backlash for Swiss banks as well as the Alpine nation's economy. The Swiss government wants parliament to overule a Swiss court decision that prevents it from honoring the agreement to ...