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Citigroup seeks dismissal of 'legal tourism' case

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British financier Guy Hands is engaging in 'legal tourism' by pursuing a U.S. lawsuit accusing Citigroup bankers of defrauding him into overpaying for music company EMI Group, and his case should be dismissed because it does not belong in the United States, the bank said on Wednesday.

Investigators visit UBS Paris HQ

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French judicial authorities probing bank UBS over allegations it illegally sold products designed to avoid French taxes visited the bank's Paris headquarters on Wednesday, a UBS spokesman said.