UBS's (UBS) Q2 net profit halves to 1B Swiss francs ($1.26B) as operating income drops to 7.2B...

|About: UBS Group AG (UBS)|By:, SA News Editor

UBS's (UBS) Q2 net profit halves to 1B Swiss francs ($1.26B) as operating income drops to 7.2B francs from 9.2B francs, with earnings hurt by lower client activity and currency movements. UBS warns on future earnings and says it will cut costs 1.5B-2B francs in the next 2-3 years. (PR)