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UBS announces losses of £9.3 billion

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01-31-2008, 09:55 AM

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UBS announces losses of £9.3 billion

Investment bank UBS has shocked the City after admitting that losses from the sub-prime mortgage crisis are $18.4 billion (£9.3 billion). The bank said losses from exposure to the sub-prime mortgage crisis in the US had deepened from the $14.5 billion it announced last month. UBS was not due to update the market until mid [...]

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