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UBS Reports $712M Q3 Loss, $4.4B in Writedowns

Subprime crisis costs bank $4 billion in writedown

By Jim O'Neill, Newser User

Posted Oct 30, 2007 8:36 AM CDT

(Newser) – The subprime mortgage mess claimed another casualty today: Zurich-based UBS reported its first quarterly loss in nearly five years, a $712 million hit that drove down share prices as much as 1.9%, reports Bloomberg. UBS reported $4.4 billion in losses and writedowns on... Read full story »

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UBS Reports $712M Q3 Loss, $4.4B in Writedowns

Subprime crisis costs bank $4 billion in writedown

subprime mortgages • UBS • corporate earnings • US economy • banking

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More Newser Stories

UBS Posts Record $11.2B Quarterly Loss

Swiss bank also posts its first annual loss on $13.7B subprime writedowns

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The Swiss bank adds to its write downs; more bad news could be coming

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Rogue UBS Trader Turned Himself In

And that's the only way the bank found him

Rogue UBS Trader Loses $2B

Swiss bank's shares dive after unauthorized trading revealed

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