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Today's News
Swiss lawmakers reject deal on banking secrecy
1 hour, 3 minutes ago
Switzerland's lower house of parliament has for the second time rejected a government proposal on relaxing Swiss banking secrecy laws, a move that would have helped the country's banks avoid facing U.S. criminal charges for shielding tax cheats. The government had presented the proposal as a way for Swiss banks to cut deals and turn over confidential client data to U.S. prosecutors without breaking Switzerland's strict client secrecy laws.
AP Top Extended Financial Headlines At 12:26 p.m. EDT
1 hour, 1 minute ago
From statement to forecasts to news conference, here's what to watch for from the Fed Stocks edge lower as investors wait for clues on stimulus from Fed Chairman Bernanke
AP Top Financial News At 12:26 p.m. EDT
1 hour, 3 minutes ago
Investors look for answers on economy from Fed FedEx 4Q profit drops as priority services lag Stocks edge lower as investors wait on Fed
Dolce and Gabbana convicted of tax evasion
1 hour, 3 minutes ago
A Milan court on Wednesday convicted the designers Domenico Dolce and Stefano Gabbana of tax evasion. The court, however, acquitted them of misrepresenting income of 416 million euros (around $560 million) each, even though the statute of limitations had expired on the charge. The designers have denied the charges. Defense lawyer Massimo Dinoia pledged to appeal the ruling, saying the fact the court issued an acquittal on a charge that had expired, instead of just letting it fall to the statute of limitations, "means the proof of their innocence is evident."
