News Summary: UBS posts $1B profit for 1Q

Associated Press
News Summary: UBS posts $1B profit for 1Q

FILE - The March 19, 2012 file photo shows the logo of Swiss bank UBS in Zurich, Switzerland. A first-quarter net profit of US$ 1 billion thanks to strong investment banking and wealth management sent shares in Swiss bank UBS AG up 5 percent Tuesday morning, April 30, 2013, on the Swiss stock exchange. The result posted by Switzerland's biggest bank, headquartered in Zurich and Basel, Switzerland, caused shares to jump to 16.5 francs soon after trading began. (AP Photo/Keystone, Steffen Schmidt)