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Gloomy outlook from UBS

6 years ago3 views

Swiss bank UBS says a restructuring of its investment banking business had failed to give it the improvements hoped for.

That division have been hit by the eurozone debt crisis and worries about the global economy so UBS is predicting further weakness in earnings.

The bank said its latest quarterly net profit shrank to the equivalent of 325 million euros.

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http://www.euronews.net/