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Wednesday
Dec 03rd
Hardworking arrow News arrow Business arrow Business arrow UBS winding up hedge fund after Q1 profits fall (Reuters)
UBS winding up hedge fund after Q1 profits fall (Reuters)
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An undated file photo of the UBS headquarters. UBS said it will close its loss-making Dillon Read Capital Management hedge fund arm in a shock move after first-quarter net profit at the bank declined, falling short of expectations. (Handout/Reuters)Reuters - Swiss bank UBS shocked investors by reporting lower first quarter net profits and the closure of its Dillon Read hedge fund arm, which was hit by losses in the U.S. subprime mortgage market, sparking a selloff in its shares.



Read more at: http://us.rd.yahoo.com/dailynews/rss/personalfinance/*http://news.yahoo.com/s/nm/20070503/bs_nm/ubs_results_dc.
 
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