"The bank wilfully and aggressively jumped in to fill a void that was left when other Swiss banks abandoned the practice"

Business quote of the day.

"The bank wilfully and aggressively jumped in to fill a void that was left when other Swiss banks abandoned the practice due to pressure from US law enforcement"

US Attorney Preet Bharara criticises Swiss bank Wegelin, which decided to close permanently after pleading guilty in a New York court to helping wealthy Americans evade taxes. The country’s oldest bank will also pay $57.8m in fines to US authorities.

The country’s oldest bank will pay $57.8m in fines to US authorities. Photograph: Getty Images

Helen Roxburgh is the online editor of Economia

Getty
Show Hide image

Police shoot man in parliament

A man carrying what appeared to be a knife was shot by armed police after entering the parliamentary estate. 

From the window of the parliamentary Press Gallery, I have just seen police shoot a man who charged at officers while carrying what appeared to be a knife. A large crowd was seen fleeing from the man before he entered the parliamentary estate.

After several officers evaded him he was swiftly shot by armed police.

Ministers have been evacuated and journalists ordered to remain at their desks. 

More follows. Read Julia Rampen's news story here.

Armed police at the cordon outside Parliament on Wednesday afternoon. Photo: Getty

George Eaton is political editor of the New Statesman.