Salomon Inc. said it would take a...

Salomon Inc. said it would take a $150-million charge against fourth-quarter earnings to pay taxes on income being repatriated from a subsidiary in Switzerland. The investment bank said it expected $1.1 billion in U.S. income as a result of its decision to scale down its unit in Zug and had not set aside the money to pay taxes on that sum. Salomon said the Swiss unit’s capital will be reduced to $600 million from $1.7 billion in part because of the expiration of certain foreign tax credits.