UBS posts 3Q profit turnaround but regulatory challenges loom

by The Associated Press Posted Oct 29, 2013 1:12 am MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email UBS posts 3Q profit turnaround but regulatory challenges loom GENEVA – Swiss banking giant UBS AG is reporting a third-quarter net profit of 577 million Swiss francs ($644 million), reversing its $2.1 billion francs loss in the comparable period a year ago.But Switzerland’s largest bank says it may not be able to reach its profit goals for 2015 because of Swiss regulatory demands that it hold more capital for risks from litigation.UBS said in a statement Tuesday it had third-quarter charges of 586 million francs for litigation, regulatory and other related matters, and sees more regulatory challenges ahead.The Zurich-based bank said “the operating environment in the third quarter remained challenging,” but its declining operating income was partly offset by lower operating expenses and staff cuts, reducing the number of employees to 60,635, down from 62,628 a year earlier. read more

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SEHA Powerful RK Celje PL smash Tatran Presov at the end of

2.Veszprem171322489 : 43041 1.Vardar171421566 : 48344 4.PPD Zagreb151014421 : 38531 6.Metalurg165110407 : 42116 RK Celje Pivovarna Lasko ended regular part of the season at SEHA GAZPROM League with a win over HC Tatran Presov 39:30 (16:13). Even only three days passed since their outstanding finish in big victory over Vive Tauron Kielce, Slovenian champions showed once again fantastic performance at “Zlatorog” hall providing impression of a real “handball machine” to their fans.The Slovakian champions were better at the start, Jankovic netted for 7:6 in 14th minute, which was the last advantage of visitors, afterwards team coached by Branko Tamse overtook the show. The first star of the night was a goalkeeper Urban Lejsak with 23 saves in total, while the best player in win over Kielce, Borut Mackovsek, repeated TOP class performance against Tatran with seven goals (100%).Four of his goals put RK Celje Pivovarna Lasko eight goals ahead (24:16) in 38th minute, when became obvious that Tatran Presov have no power to make match more interesting even they had best scorer of the night in Oliver Rabek (10 goals).The Slovenian best team ended SEHA GAZPROM league regular season with 33 points (11 wins and 7 defeats), currently on third place, but still depends of the last results of RK PPD Zagreb and Meshkov Brest in the race for SEHA Gazprom Final 4.Tatran Presov are in series of tough away challenges. The next two are in Velenje and Veszprem.STANDINGS: 5.Meshkov Brest16925484 : 44129 3.Celje Piv. Laško181107561 : 54533 10.Izviđač CO151014420 : 5103 9.Tatran Prešov153111392 : 46110 8.Gorenje Velenje154011401 : 43212 7.Nexe16439443 : 47615 ← Previous Story Meshkov Brest to sign Petar Djordjic? Next Story → SCANDI STYLE: Magnus Dahl to end career at age 29 read more

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