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| UBS reports profit despite trading scandal | UBS reports profit despite trading scandal |
| (40 minutes later) | |
| Swiss bank UBS has reported a better-than-expected third-quarter net profit of 1bn Swiss francs ($1.1bn; £710m) | |
| This was despite being hit by a 1.8bn franc loss from unauthorised dealing by alleged rogue trader Kweku Adoboli. | This was despite being hit by a 1.8bn franc loss from unauthorised dealing by alleged rogue trader Kweku Adoboli. |
| When the fraud was uncovered in London last month, UBS warned that it might have to report a loss for the quarter. | |
| The results are lower than the 1.66bn franc profit reported in the same quarter a year ago, but identical to the 1bn francs it posted last quarter. | The results are lower than the 1.66bn franc profit reported in the same quarter a year ago, but identical to the 1bn francs it posted last quarter. |