Bloomberg
17 Mar 2008
Elena Logutenkova
March 17 (Bloomberg) -- UBS AG, Europe's biggest bank by assets, fell the most in more than nine years in Swiss trading after reports that the company may cut as many as 8,000 jobs, propose a new capital increase and sell businesses.
UBS fell 4.02 francs, or 14 percent, to 24.42 francs by 1:34 p.m. in Zurich. If the shares close at this price, it would be the biggest drop since Sept. 30, 1998. Credit-default swaps on UBS jumped 25 basis points to 235, according to Deutsche Bank AG.
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