There seems to be a new era in the Investment Banking Modus Operandi. To cut back bonuses and useless activities.
LONDON — UBS on Tuesday reported a 58 percent decline in its net profit during the second quarter as a fall in investment banking income weighed on the Swiss bank.
- UBS Results Hurt by Facebook (247wallst.com)
- UBS Profit Hit After Loss on Facebook IPO (dealbook.nytimes.com)
- UBS Second-Quarter Net Falls 58% on Investment-Banking Loss – Bloomberg (bloomberg.com)
- Eurozone crisis hits bank profits (bbc.co.uk)
- Facebook and eurozone hit UBS profits (standard.co.uk)