French prosecutors demanded on Thursday that UBS pay a fine of €3.7 billion (CHF4.2 billion) in the Paris trial of the largest Swiss bank.
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The Swiss banking giant and its French subsidiary are accused of laundering proceeds from tax fraud carried out from 2004 to 2012. UBS denies the charges.
France’s national financial crimes unit estimates at least €9.76 billion went unreported to French tax authorities in that period.
Prosecutors also requested a fine of €15 million against UBS France,
They are seeking suspended sentences of six to 24 months’ incarceration, along with fines from €50,000 to €500,000, against six banking executives or former executives.
The French state, the only civil plaintiff, is claiming €1.6 billion in damages from UBS, which has already had to pay a bond of €1.1 billion.
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On Saturday the Lake Geneva, Valais and Basel regions are expected to record the first tropical day of the year, with temperatures exceeding 30°C.
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The Swiss economy saw the clouds that had gathered over its prospects lift somewhat in May. However, the KOF economic barometer is still below its long-term average.
Direct operations too dangerous in Swiss landslide valley
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By Friday morning 365 people had been forced to leave their homes because of Wednesday's landslide in the Swiss village of Blatten.
Franco-Swiss raclette war set to be settled on Sunday
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The battle for the world's largest raclette will be transformed on Sunday in Saint-Gingolph, canton Valais, into a raclette of friendship served at the border.
Flood risk threatens Swiss valley after ‘millennium event’ glacier collapse
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Two days after a gigantic avalanche of ice, mud and debris buried much of the village of Blatten in canton Valais, the danger is not over.
Situation in Swiss landslide valley remains unstable
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Authorities in Valais said on Thursday that it was still too dangerous to begin clear-up activities around the village of Blatten.
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UBS prepares to fight US mortgage-backed securities lawsuit
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UBS Group AG says it will “vigorously” contest a US lawsuit concerning mortgage-backed securities it sold in the run-up to the 2008 financial crisis.
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UBS is putting super-rich Americans at the centre of its new growth strategy, nearly a decade after it was fined by the United States.
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If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.