Profits Slide For UBS, Deutsche Bank
RENEE MONTAGNE, HOST:
NPR's business news starts with lower bank earnings.
(SOUNDBITE OF MUSIC)
MONTAGNE: This morning, the big Swiss bank UBS reported a 58 percent decline in profit for its second quarter. Some of the losses are tied to Europe's debt crisis. UBS also lost money on the botched Facebook IPO. Also today, Germany's Deutsche Bank said its second-quarter earnings slid 63 percent.
NPR transcripts are created on a rush deadline by a contractor for NPR, and accuracy and availability may vary. This text may not be in its final form and may be updated or revised in the future. Please be aware that the authoritative record of NPR’s programming is the audio.