Monday, December 10, 2007

More to come

UBS writes off further $10bn on US sub-prime losses

UBS, the Swiss banking group, today confirmed the worst fears of investors by writing off a further $10bn (£4.9bn) on US sub-prime losses and reversing previous guidance by admitting it faced a full-year loss. It wrote off $3.4bn in the third quarter.

Posted by inbreda @ 09:19 AM (1585 views)
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