UBS expects $11.45B fourth-quarter loss
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UBS AG said Wednesday it expects a record loss of around $11.45 billion for the fourth quarter, largely a result of bad investments in U.S. subprime mortgages.
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Lehman Brothers Holdings Inc   said on Thursday fourth-quarter earnings fell 11 percent, as  the credit market crisis triggered write-downs, and the company  said further write-downs were possible.
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Bank&#39;s 3Q profit dips, but it says &#39;04 will be better than &#39;03; wealth management stays strong. ZURICH  - Banking heavyweight UBS remained cautious about prospects for the rest of the year after a
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The mortgage lender posted a fourth-quarter loss of $509.1 million as it raised its loan-loss provisions to account for growing defaults and foreclosures.
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The bank said it lost about $854 million, exceeding analystsâ fears about how badly it would suffer from its subprime mortgage bets.
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UBS, the largest Swiss bank, said Wednesday that it would write off $14 billion in exposure to the troubled U.S. housing market and post a net loss for 2007.
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Banking giant UBS (UBSN.VX: Quote, Profile, Research) was cautious over prospects for the rest of the year after a lull in trading hurt its third-quarter profit, despite
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Although UBS predicted a return to profitability in the fourth quarter, the losses from subprime mortgage investments left analysts wondering about further big write-offs.
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Morgan Stanley  on Wednesday  said it has suffered a $3.7 billion loss stemming from its U.S.  subprime mortgage exposure, which it expects will reduce  fourth-quarter earnings by about $2.5 billion.
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Swiss banking giant UBS plunged to its first-ever full-year net loss on Thursday after losing 18 billion dollars in the US subprime mortgage crisis.
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Swiss bank UBS reports a worse-than-expected third quarter loss, hit by bad debt in the US housing market.
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BNP Paribas SA confirmed Wednesday that fourth-quarter net profit plunged 42 percent due to write-downs of securities affected by the financial markets crisis.
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UBS plans to shrink its investment bank arm after huge losses linked to the US sub-prime loans crisis.
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German bank WestLB expects to make a net loss of about one billion euros and another billion in write-downs.
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Countrywide Financial Corp , the battered mortgage lender being acquired by Bank of America Corp , posted a $421.9 million fourth-quarter loss on Tuesday, hurt by mounting defaults in a sinking housing market.
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Swiss banking giant UBS on Wednesday posted its first-ever full-year loss after losing billions in the US mortgage crisis and turning to Asian investors for a bail-out, sparking shareholder discontent.
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Reported profit of $44 million for third quarter over a loss of $31 million a year ago and predicts 10% increase in sales for the 4th quarter.