Advertisement
UK markets closed

  • FTSE 100

    8,139.83
    +60.97 (+0.75%)
     

  • FTSE 250

    19,824.16
    +222.18 (+1.13%)
     

  • AIM

    755.28
    +2.16 (+0.29%)
     

  • GBP/EUR

    1.1679
    +0.0022 (+0.19%)
     

  • GBP/USD

    1.2494
    -0.0017 (-0.13%)
     

  • Bitcoin GBP

    50,515.74
    -904.79 (-1.76%)
     

  • CMC Crypto 200

    1,319.27
    -77.27 (-5.53%)
     

  • S&P 500

    5,099.96
    +51.54 (+1.02%)
     

  • DOW

    38,239.66
    +153.86 (+0.40%)
     

  • CRUDE OIL

    83.66
    +0.09 (+0.11%)
     

  • GOLD FUTURES

    2,349.60
    +7.10 (+0.30%)
     

  • NIKKEI 225

    37,934.76
    +306.28 (+0.81%)
     

  • HANG SENG

    17,651.15
    +366.61 (+2.12%)
     

  • DAX

    18,161.01
    +243.73 (+1.36%)
     

  • CAC 40

    8,088.24
    +71.59 (+0.89%)
     
PROPERTY:

9 luxury homes to consider if money is no object

Ever thought about what a multimillion pound budget would buy you?

Barclays says its Swiss private bank drops out of U.S. tax deal

Reuters
The Barclays logo is seen outside a branch of the bank in central London October 30, 2014. REUTERS/Toby Melville

ZURICH (Reuters) - Barclays' private bank in Switzerland has dropped out of a U.S. program aimed at cracking down on wealthy Americans evading taxes through hidden offshore accounts, the British bank's market head for Switzerland said on Thursday.

"We have recently exited the program," Barclays executive Francesco Grosoli said at an event in Zurich, adding that the bank had done so "three or four months ago" after evaluating its options and seeking advice. Grosoli did not elaborate.

A host of Swiss banks have come forward to join the program, which requires them to hand out some previously hidden information and potentially face penalties of up to 50 percent of assets they managed on behalf of U.S. clients.

(Reporting By Oliver Hirt; Writing by Katharina Bart)