Industry News

Swiss bank UBS takes $10 billion subprime hit

Write-downs aimed at 'eliminating speculation'
Published on Dec 10, 2007

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by CareyBot

Revising its estimates for losses on defaults in U.S. subprime mortgage pools, Swiss bank UBS AG said Monday it’s writing down the value of those investments by an additional $10 billion, and may record a net loss in 2007. On ...

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