October 30, 2007

UBS plunges to third quarter loss after US subprime crisis (AFP)

A UBS sign is displayed at a branch in Geneva, 01 October 2007. Switzerland's largest bank, UBS, reported its first quarterly loss in five years after its third quarter results were hit in the financial crisis caused by the ailing US home loans market.(AFP/File/Fabrice Coffrini)AFP – UBS, Switzerland’s largest bank, recorded third quarter losses of 830 million Swiss francs (495 million euros, 713 million dollars) Tuesday, blaming a lack of liquidity following a crisis in the US home loans market.


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