Swiss banking group has cut 13,000 jobs this year as it recovers from rushed rescue deal
Business live – latest updates
UBS has reported a $785m (£637m) quarterly loss, its first in nearly six years, as the Swiss banking group counted the costs of rescuing its rival Credit Suisse earlier this year.
The loss was nearly double the $444m that analysts had forecast, with UBS saying it would have reported profits worth $844m in the third quarter had it not been for the $2bn in expenses linked to the emergency takeover.
About Author
More Stories
Nigeria sues crypto giant Binance for $81.5bn in economic losses and back tax
Chinese fishing fleets using North Korean forced labour in potential breach of sanctions, report claims
#AltGov: the secret network of federal workers resisting Doge from the inside