Bloomberg UBS Group AG is ‘very pessimistic’ about reaching an agreement with French authorities to settle a case of alleged tax fraud that forced the bank to post a 1.1 billion-euro ($1.2 billion) bond to cover any potential penalties three years ago, Journal du Dimanche reported. France’s financial prosecutor is seeking a 1.1 billion-euro fine from UBS to settle …

  Bloomberg Wal-Mart Stores Inc. acquired online apparel seller ModCloth Inc. in an all-cash deal, part of an effort to expand its online operations and appeal to customers that may have avoided the retailer in the past. ModCloth will continue to operate as a stand-alone site, as well as work with Wal-Mart’s other operations, the retail giant said. ModCloth Chief …

  Bloomberg Vodafone Group Plc is nearing an initial agreement to merge its Indian operations with Idea Cellular Ltd. in a deal that would create the largest telecom company in one of the world’s most competitive markets, people with knowledge of the matter said. The two firms plan to announce a preliminary agreement as soon as this month, according to …