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Un nouveau Kerviel chez UBS


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ZURICH—UBS AG warned Thursday it is likely to post a third-quarter loss due to unauthorized trades at its investment bank, where a trader racked up as much as $2 billion in losses."The matter is still being investigated, but UBS's current estimate of the loss on the trades is in the range of $2 billion. It is possible that this could lead UBS to report a loss for the third quarter of 2011," the Swiss bank said in a brief statement. No client positions were affected, it added.

A spokesman declined to elaborate on the statement.

http://online.wsj.com/article/SB10001424053111904060604576571931690088522.html

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