UBS posts a 76% fall in 4th quarter profit

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Source: Bloomberg
UBS AG, one of Switzerland's leading banks reported its fourth quarter profit fell 76% as lender's investment unit posted loss for the second straight quarter. The net revenue declined to CHF 393 million (USD427 million) compared to CHF 1.66 billion previous year. Economists questioned by Bloomberg predicted net revenue to reach CHF 721 million. 
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Tue, 07 Feb 2012 08:04:08 GMT

European stocks disrupt gains on Greek woes

After a successful performance on Friday, European share markets closed down on Monday as Greece's officials failed to conclude nation's debt swap agreement. Stoxx Europe 600 lost 0.1%, German Dax index traded close to flat, giving up only 0.03%. UK FTSE 100 index slipped 0.2% and French CAC 40 index tumbled 0.7%. 

Tue, 07 Feb 2012 14:35:31 GMT

India forecasts weakest growth since 2009

The government of India predicted the nation's economy will expand at slowest pace in three years, putting extra pressure on Reserve Bank of India to cut interest rates. Government predicts annual GDP to increase by 6.9% starting from March. India's economy grew 8.4% in period 2010-2011. The growth slowed down after central bank raised benchmark rates starting from 2010 until October 2011. 

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