UBS posts loss, cuts 1,500 jobs (CNN.com)
Story date: 2007-10-01 08:24:11
Added on: 2007-10-01 11:00:15
ZURICH, Switzerland (AP) -- Losses linked to the collapsing market for U.S. subprime mortgages will force Swiss banker UBS to post a larger-than-expected loss of up to $690 million in the third quarter, cut nearly two percent of its staff and replace top executives.
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