UBS Forex Income Down 15 Per Cent In Second Quarter
NEWS
ZURICH--Analysts believe declining hedge-fund business and falling currency trading volumes were probably behind a 15 per cent fall in Swiss banking group UBS’s net income from currency trading in second quarter 2000, compared with the same quarter in 1999.
UBS said in late August that net income from currency trading, which is undertaken by its UBS Warburg investment banking unit, dropped to Sfr397 million ($243 million) in the quarter to June 30 this year from Sfr465 million in the same 1999
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