Posted AT 8:51 AM EST on 04/07/08
UBS sees small second-quarter loss
ZURICH — Battered Swiss bank UBS said on Friday it should be saved from another hefty loss in the second quarter by a large tax credit, giving a much-needed boost to its share price.
UBS, which has written $37-billion (U.S.) off its assets as a result of the credit crisis, said it expected to break even or make a small loss in the second quarter, helped by the 3 billion Swiss franc ($2.96-billion) tax credit.
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