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UBS Warns on Outlook as Net Falls After Charges

Swiss lender UBS (UBS) posted a mixed set of quarterly earnings on Friday and warned of challenges ahead.

The lender, which had comfortably beat forecasts in the previous quarter, said third-quarter adjusted pretax profit rose by 33% to Sfr1.3 billion ($1.3 billion), above the consensus forecast of Sfr1.16 billion as compiled by Factset. Reported pretax profit rose by 11% to Sfr877 million, above a consensus for Sfr837.8 million. However, net profit fell more than expected to Sfr827 million from...