Howrah News Service -  Latest news and headlines on Howrah,West Bengal and World: UBS could see lower loss in Q2

UBS could see lower loss in Q2
================================================================================
ASIANAGE on 04 July, 2008 02:45:25
 
Zurich: Swiss banking giant UBS, which had been hit hard by the subprime crisis,
said it would break even or report a slight loss for its second quarter. In a
statement, the bank said its second quarter results "are likely to be at or
slightly below break-even", marking a sharp contrast from its massive first
quarter loss of 11.54 billion Swiss francs. "The results reflect positive
contributions from Global Wealth Management & Business Banking and from Global
Asset Management, offset by a loss in the Investment Bank," said the bank. The
news beat analyst forecasts of a four billion Swiss franc loss, which sent UBS
shares diving to an all-time low.
***
ANA may purchase five A380s
Tokyo: All Nippon Airways is planning to buy about five Airbus superjumbo
A380s, the Japanese carrier said on Friday. The airline set up a panel to decide
which jets to buy, ANA spokeswoman Ms Nana Kon said. "We have several options
including the A380, from which we plan to choose the optimal equipment," Ms Kon
said. The airline is also considering Boeing aircraft such as the 787 and 747,
she said. If the airline selects the A380, it would need about five jets for
long-haul routes. All purchases will be for long-distance flights to the US and
Europe, in time for a planned runway expansion at Tokyo’s Narita International
Airport set for 2010, Ms Kon said.