Goldman Sachs Group Inc. said the U.S. tax reform will cut profit this year by about $5 billion, mainly because of a tax targeting earnings held abroad.
A former Credit Suisse Group AG banker who pleaded guilty to conspiring to help Americans hide income and assets from the Internal Revenue Service is cooperating with U.S. prosecutors in a bid for the sort of leniency her former colleagues received.
The second-largest Swiss wealth manager faces a sweeping tax evasion and money laundering investigation spanning five countries and potentially involving thousands of account holders.
