The BBC reports this morning that Swiss bank UBS says it is in "advanced talks" with the US Department of Justice to settle allegations that it tried to fix foreign exchange markets.
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Supreme Court to hear HMRC tax avoidance scheme cases
The Revenue has lost previous court cases against UBS and Deutsche Bank over the two schemes which operated in 2003 and 2004. Now, HMRC is allowed to appeal to the Supreme Court in a hearing expected to take place later this year reports the FT.