Types Of Bankruptcy

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May 5th, 2008

UBS reports 1Q net loss $11 billion

“The outflows we have experienced in Switzerland, and reduced levels of inflows experienced elsewhere, are, no doubt, also a reflection of the reputational damage that we have sustained over recent months”

Swiss bank UBS, hard hit by the U.S. subprime crisis, reported a first-quarter loss of $10.97 billion and said Tuesday it will slash almost 7 percent of its work force. via Newsday.com



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