Thursday, 15 September 2011
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CNN.com, 15 Sep 2011
(CNN) -- Swiss banking giant UBS discovered that unauthorized trading has cost it an estimated $2 billion, it announced Thursday.
The "unauthorized trading by a trader in its investment bank" could cause the bank to record a loss in the third quarter of this year, it said.
The loss would potentially be among the largest costs ever to a bank in unauthorized trading. Full story
Related:
UBS Says It Had $2B Loss From Unauthorized Trading - Bloomberg
Singapore's GIC says its long-term view on Citi, UBS unchanged-paper - Reuters
GIC says intends to hold Citi, UBS stakes for long term-reports - Reuters
Singapore’s GIC Becomes Biggest Shareholder of UBS (Update1) - Bloomberg
UBS discovers $2 billion loss in unauthorized trade
(CNN) -- Swiss banking giant UBS discovered that unauthorized trading has cost it an estimated $2 billion, it announced Thursday.
The "unauthorized trading by a trader in its investment bank" could cause the bank to record a loss in the third quarter of this year, it said.
The loss would potentially be among the largest costs ever to a bank in unauthorized trading. Full story
Related:
UBS Says It Had $2B Loss From Unauthorized Trading - Bloomberg
Singapore's GIC says its long-term view on Citi, UBS unchanged-paper - Reuters
GIC says intends to hold Citi, UBS stakes for long term-reports - Reuters
Singapore’s GIC Becomes Biggest Shareholder of UBS (Update1) - Bloomberg
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