UBS: peace nicks

Peace is supposed to pay a dividend. But for Switzerland, an agreement to settle a war with the US will probably come with a hefty bill. The two countries have reached a tentative accord in the US government’s prosecution of UBS over helping customers evade taxes. Switzerland’s biggest bank will be happy to have the case behind it, even if there’s an extra hit to add to a previous admission of guilt to criminal charges, a $780m penalty and the release of a few hundred customer accounts. UBS shar...