Business & Finance
UBS discovers unauthorised trading, loss estimated at $2bn
ZURICH : Swiss banking giant UBS said Thursday that it has uncovered unauthorised trading in its investment bank which h
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"UBS has discovered a loss due to unauthorized trading by a trader in its Investment Bank. The matter is still being investigated, but UBS's current estimate of the loss on the trades is in the range of $2 billion," said the bank in a statement.
Copyright AFP (Agence France-Presse), 2011