Swiss parliament rejects UBS deal

Last week Switzerland's Senate voted to approve a deal to hand over the data on 4,450 accounts held by US citizens at UBS. Now Swissinfo has just reported:

"Parliamentarians on Tuesday voted 104 to 76 against the controversial settlement deal on sharing banking data that was signed last August between the US and Switzerland. There were 16 abstentions."

This will now move to a special reconciliation committee, to hammer out a compromise. Under the terms of the deal, Switzerland has until August 20 to process the US request. Read more here.