Italian police arrest former UBS banker on U.S. charges

BOLOGNA, Italy, Oct.replica louis vuitton wallet 21 (UPI) -- Italian police said they had arrested former UBS banker Raoul Weil who has been indicted in the United States for assisting others with tax evasion.Weil is currently the chief executive officer of Reuss Private Group, a Swiss firm that has about $4.5 billion under its management. The company said Weil was arrested during a private trip to Italy.louis vuitton beltHe has been working at Reuss since 2010, The Financial Times reported Monday. While at UBS, however, he assisted American clients hiding about $20 billion in assets from the IRS, U.S. authorities allege in a 2008 indictment.new louis vuitton bagsItalian police said it was up to the United States to file to have Weil extradited. His name in Italy appeared on a list of at-large suspects, the Times reported.Currently, police said, Weil, 54, is being housed in a prison in Bologna.Although Weil was declared a fugitive in 2009 by U.louis vuitton speedyS. authorities, Reuss said there was no reason he could not work as the head of a Swiss money management firm."There was nothing against him in Switzerland. He was fully transparent about his situation, and there was no reason not to appoint him as chief executive," the company said.louis vuitton handbag"When Raoul Weil was indicted in 2008 he was immediately released from all his duties at the bank. UBS reached a final settlement concerning the U.S. cross-border issue in 2010," UBS said in a statement, referring to a $780 million settlement with the U.louis vuitton speedyS. Justice Department to settle charges of aiding clients with tax evasion.
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Britain OKs nuclear power plant in Somerset, England

LONDON, Oct.chanel bags online 21 (UPI) -- The British government has given its approval to a nuclear power station to be built in Somerset, England, by a French company with help from Chinese investors.The project was hailed Monday as a breakthrough deal in which investors agreed to front the cost of construction, which is estimated at $25.8 billion, in exchange for a locked-in price for electricity the plant produces, the BBC reported."For the first time, a nuclear station in this country will not have been built with money from the British taxpayer," Secretary of State for Energy Edward Davey said.louis vuitton purse for saleConstruction for the plant in Somerset in the southwestern portion of the country will be led by the French firm EDF Energy, the BBC said. Critics complain that the locked-in price of $149.30 per megawatt hour of electricity is too high. That is about twice the current going rate for electricity in Britain.lv handbag Further, there is monetary incentive for Britain to approve a second plant for EDF Group, which agreed to drop the price to $144.40 per megawatt hour if it is allowed to build a second nuclear plant at Sizewell in Suffolk in the southeastern part of the country."What it equates to actually is a subsidy and the coalition [government] said they would never subsidize nuclear," Paul Dorfman of the Energy Institute at University College London, said.Prime Minister David Cameron disagreed, saying the British economy and the British people would both benefit from Britain embracing nuclear.gucci messenger bag"This underlines the confidence there is in Britain and makes clear that we are very much open for business," said Cameron, who called the agreement, "an excellent deal for Britain and British consumers."Opposition leader Ed Miliband of the Labor party was skeptical the pricing arrangement would hold. "We've got the prime minister who says he can fix prices 35 years ahead for the energy companies but he can't freeze prices now for the consumer. No wonder we've got a cost-of-living crisis in this country," he said.louis vuitton wallet for saleThe approved plant will include two nuclear reactors, which are expected to operate for 60 years. The project is expected to create 25,000 temporary construction jobs and 900 permanent positions.
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Stocks flat Monday

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Crude oil less than $100 per barrel for first time since July

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