Midweek Roundup: Jury Acquits Banker Accused of Orchestrating Tax Evasion, U.S. Offers Financial Channel to Iran, and More

A federal jury Monday found the former head of UBS AG's global wealth management division not guilty of conspiring to defraud the IRS, according to Reuters. U.S. prosecutors had alleged that Raoul Weil, who was arrested in Bologna, Italy last October after using his own name to check into a hotel, directly supervised the bank's management of $20 billion in potentially untaxed American assets. More The Obama administration is offering Iran a direct U.S. banking channel as part of its negotiations to lock down a permanent agreement with the Islamic republic, Al-Monitor reported Tuesday. Such a plan would likely clear...