Along with posting a $2B loss in Q4, UBS also divulges it owes Brazil $1.2B in back taxes...

|About: UBS Group AG (UBS)|By:, SA News Editor

Along with posting a $2B loss in Q4, UBS also divulges it owes Brazil $1.2B in back taxes dating to when it owed an investment bank in the country. UBS was informed of the debt just a week after getting the go-ahead to purchase a local brokerage there. Welcome back.