UBS will shed 9000 more employees

UBS, Switzerland’s largest bank will cut 9000 more jobs in the near future. the UBS Chief Executive Officer Oswald Grubel announced this at the company’s annual general meeting in Zurich.

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U.S. stocks started to fell

The U.S. stock futuresstarted to fel after the opening. The investors braced for the start of what is expected to be another grim corporate reporting period. At 4:30 a.m. ET, the Dow Jones industrial average, Nasdaq 100 futures and Standard & Poor’s 500 were all lower.

The UK deficit more than expected

The Institute for Fiscal Studies says that the UK deficit will be 2.7% what is way more what Chancellor Alistair Darling acknowledged in the pre-Budget report. To compensate the deficit the UK government need to find £39bn a year by the end of 2015/16.

From bbc.com