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The reported $2 billion loss that Swiss bank UBS has incurred due to a rogue trader who was arrested yesterday may cause the bank to suffer a large scale downgrade. The bank is readying a major restructuring to be announced later this year, which could spell the end of UBS’s investment banking business.
The reported $2 billion loss that Swiss bank UBS has incurred due to a rogue trader who was arrested yesterday may cause the bank to suffer a large scale downgrade. The bank is readying a major restructuring to be announced later this year, which could spell the end of UBS’s investment banking business.