UBS forecasts third-quarter profits

Banking giant UBS said today that it no longer expects to report a loss in the third quarter despite the $2.3bn (€1.74bn) hole left by alleged rogue trading.

UBS forecasts third-quarter profits

Banking giant UBS said today that it no longer expects to report a loss in the third quarter despite the $2.3bn (€1.74bn) hole left by alleged rogue trading.

The Swiss bank also said it is set to report revenues in its wealth management arm at similar levels to the second quarter in a sign that investors have not pulled cash out of UBS in the wake of the scandal.

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