Wire
FT: Paulson will pay for Goldmans litigation
John Paulson, whose hedge fund profited from the transaction at the heart of the civil fraud charges filed in the US against Goldman Sachs, has pledged to his investors that he will bear the costs of any litigation brought against his company in the matter.
Reuters: US to prosecute more HNWs
SINGAPORE, May 3 (Reuters) - The U.S. government expects to probe thousands more cases of wealthy individuals dodging taxes through offshore bank accounts, on top of the high profile case against UBS AG (UBS.N)(UBSN.VX), a U.S. tax attorney said on Monday.
WBull: UBS to rebuild City HQ
Swiss bank UBS is close to a final agreement to rebuild its landmark offices in the city of London, a move that would bolster the UK capital’s traditional financial hub, which faces stiff competition from other European cities as well as from Canary Wharf.
NYT: Picasso fetches record $106.5m
A painting that Picasso created in a single day in March 1932 became the most expensive work of art ever sold at auction on Tuesday night.
FT: Goldmans debt costs rise
The cost of insuring Goldman Sachs’ debt against default has risen to about the level of Morgan Stanley and Citigroup, two less profitable rivals, as Goldman’s regulatory woes take a toll on investors’ confidence and its standing on Wall Street.
WBrief: UBS profits rise
The wealth management arm of UBS experienced mixed fortunes in the first quarter of this year, logging a rise in profits in all regions apart from a sharp drop in the Americas, the Swiss banking group said.
IoS: Capricorn considers breaking with Goldmans
Capricorn Investment Group, one of the world's biggest family offices, could break its relationship with Goldman Sachs following accusations by the US financial watchdog that the firm misled clients over mortgage trading.
Luke Johnson buys into Beer & Partners
Beer & Partners, the UK’s largest business investment agency, and Luke Johnson, columnist for the FT and former chairman of Channel 4, today announced that they are joining forces to support the future of Small Business Britain.
AFP: Switz to tax bankers' bonuses
ZURICH — The Swiss government on Wednesday unveiled plans to tax big staff bonuses paid out by bank and insurance firms in an attempt to rein in "excesses" in the financial services industry.
Reuters: Switz to speed up looted-asset return
BERNE, April 28 (Reuters) - Switzerland on Wednesday unveiled a bill aimed at speeding up the return of assets locked in Swiss accounts to the countries they were looted from, amending legislation after a series of embarrassments.
Unbillable Hours
Our specialists solve your HNW problems (gratis!)
Q
I have been reading in the press recently that if you are not a UK citizen it is going to become more difficult to divorce in the UK. Is this true?
A
It is a fact that in recent years there has been an increase in ‘forum shopping’ divorces and London has been described as the divorce capital of the world.
Spear's Wire
The Hedgehog
Spear's Spiky Undercover Agent Dishes the Gossip
