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A French appeals court ordered UBS Group on 13 December to pay around $2bn for helping wealthy clients in France evade taxes, reducing the size of an earlier penalty of around $5bn.

The case has hung over UBS for years. The Swiss banking giant is one of the world’s biggest wealth managers.

UBS fine for tax evasion slashed by nearly half to $2bn

Margot Patrick

Nick Kostov

SJP, Rathbones sour on US as Trump’s tariff deadline looms

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Senior GIC private equity lawyer joins Dechert in London

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US law firm hires private equity specialist from key client

Barclays poaches Citi managing director for wealth private credit push

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Dale Walsh will accelerate growth of the private bank and wealth management’s lending business

Northern Trust taps UN pension fund for head of international role

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Pedro Guazo, who joins in August, will also oversee the $1.3tn asset manager’s responsible investment platform globally

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Regulators fined the fast-fashion retailer more than $40 million for what they deemed to be misleading practices on prices and environmental claims.

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David Frame is named global head of the private bank, helping deep-pocketed clients invest more abroad.

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Keir Starmer initially refused to confirm if Rachel Reeves would remain in post, causing sterling and gilts to sell off sharply.

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The narrow vote delivered the president a major second-term legislative victory.

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The deal with Vietnam seeks to stop Chinese-made goods from transiting through the Southeast Asian country to avoid higher duties.

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Hot weather and lax dress codes have us baring more at work.

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Ford chief predicts AI will replace “literally half of all white-collar workers.”

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The precision-measurement company has withdrawn its recommendation for its previously agreed takeover offer from Advent International.

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The dollar lost momentum ahead of an expected decline in U.S. job creation, as investors expect the Fed to start cutting interest rates in coming months.

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The tech giant has been ramping up efforts to boost business growth in a bid to defend its place in China’s tech and commerce industries, as well as grow abroad.

Alibaba Readies $7 Billion Boost for Commerce Unit, Plans New Data Centers

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UBS fine for tax evasion slashed to $2bn

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