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UBS tax deal delayed

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UBS tax deal delayed

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The lower house of the Swiss parliament has rejected a deal for UBS to hand over details of nearly four and half thousand of its clients to US tax officials.

The upper house had already approved the deal.

The two houses will now have to agree a common text before a final vote later this month.

Washington has agreed to drop tax evasion charges against UBS on the promise of receiving the client information.