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UBS reports pre-tax loss in 3Q but says benefits of Credit Suisse merger gather steam
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UBS reports pre-tax loss in 3Q but says benefits of Cre
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Swiss banking giant UBS reported a 255 million US dollar (£206 million) pre-tax loss in the third quarter as it shed some 4,000 jobs globally, cut costs faster than expected, and reaped billions in asset inflows while moving forward with its governm.
UBS made a hefty loss in the first full quarter since it closed a deal to rescue its stricken rival Credit Suisse, even as the bank attracted billions of dollars in new deposits from customers.
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