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| if Switzerland doesn't settle the tax issue with the US by August then it's game over for UBS in the USA. and maybe not to far from that the rest of UBS. | |
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WMA accounted for 1.3b in income, but only 178m in profits, while WM&SB contributed 2.8 at the income level, but a whopping 1.1b in profits! => not everything revolves around the USA....
It is much harder to determine the impact on areas such as Asset Management and Investment Banking....
Jim