UBS plunges deep into the red on writedowns
China Daily | Updated: 2009-03-12 07:51
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A pedestrian is reflected in a UBS logo outside the bank's offices in New York. Bloomberg News |
UBS AG, Switzerland's biggest bank, posted a 20.9 billion Swiss franc ($18 billion) loss for 2008, more than initially reported, and said it remains "extremely cautious" about the outlook for this year.
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