Margot Patrick

2 weeks ago | wsj.com | Margot Patrick

Prosecutors allege he hid profits from $7 billion in fuel and services contracts to U.S. troopsDouglas Edelman, one of the U.S.’s largest known tax evaders, pleaded guilty Wednesday to tax crimes and defrauding the government on income he made from $7 billion in military contracts in Afghanistan.

2 weeks ago | wsj.com | Margot Patrick

Family offices in the U.S. managing multi-billion dollar wealth allocated 86% of their portfolios into investments in North America last year, up from 74% in 2020, according to a wealth report Wednesday from UBS. UBS said rich American families have regarded international markets as only marginal to their returns in recent years, and that no other region has such a big home bias. The heavier weighting into U.S. markets came while valuations for tech stocks and other growth companies soared.

4 weeks ago | wsj.com | Aruna Viswanatha |Margot Patrick

Former employees set to strike it rich for telling U.S. authorities Credit Suisse wasn’t living up to its promise to block tax evasionA decade ago, Credit Suisse pleaded guilty to helping Americans evade taxes by stashing cash and assets overseas and pledged to stop doing so. Now former bank employees collectively stand to make up to $150 million for quietly telling U.S. authorities that Credit Suisse wasn’t living up to its promise. Copyright ©2025 Dow Jones & Company, Inc. All Rights Reserved.

4 weeks ago | fnlondon.com | Aruna Viswanatha |Margot Patrick

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1 month ago | wsj.com | Joe Wallace |Margot Patrick

Some European banks have invested heavily in trading to compete better with Wall Street rivals. Those efforts are paying off. Barclays’s traders had a blowout first quarter, as market volatility began to stir ahead of President Trump’s April 2 “Liberation Day” tariffs. At UBS, meanwhile, clients traded more in early April than during the busiest days of the pandemic. Barclays reported forecast-beating profit Wednesday, boosted by a 27% rise in adjusted income from stock trading.