Stock BlurbsStocks and Financial News
Art Cashin warns of possible change of sentiment
Expirations Friday and the beginning of Ramadan are some topics Art Cashin mentioned Friday morning as he discussed the possible change in sentiment. A weak US Dollar and a free fall in stocks could be a bad situation for the stock market. Mortgage defaults soared over 13% which is the nation’s highest ever. Oil hit [...]
United States Asks Court to Enforce Summons for UBS Swiss Bank Account Records
It was previously reported that there were 17,000 US customers at UBS who were hiding assets from the IRS but now it is alleged that the number is closer to 52,000 with assets of 14 billion.
Here is what was reported on the DOJ website
WASHINGTON – The government filed a lawsuit today in Miami against Swiss [...]
UBS to pay 780 million to US Government over tax charges
Switzerland’s largest bank, UBS, has admitted helping U.S. taxpayers hide money from the IRS. They have agreed to pay $780 million in fines and restitution, and to turn over account information.
“UBS admitted to conspiring to defraud the United States by impeding the IRS,” the Justice Department announced late Wednesday.
The statement says that UBS, “in an [...]