UBS posts first quarterly loss since 2017 on Credit Suisse costsUBS, Switzerland’s largest bank, reported a larger-than-expected lack of $785 million in the third quarter, its first quarterly drop since 2017. However, the financial institution said that it had stabilized Credit Suisse, which it acquired earlier this year, and generated $22 billion in web new money in its wealth management business. UBS shares rose greater than three p.c following the announcement. UBS plans to absorb Credit Suisse’s Swiss division and minimize 3,000 jobs by the tip of 2026.
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- The decline is due to prime IT exporters decreasing their consumption amidst a slowdown in international demand for tech companies.
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Slb: Disrupting The Normal Power Business Through Ai Drilling Improvements
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Corion’s Bacher On Market’s ‘’red October’, Bhi, Ffm And What’s Next
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