Swiss banking giant UBS is on the cusp of slashing thousands of jobs, even as it reports a record-breaking profit surge attributed to its acquisition of a struggling rival, Credit Suisse. UBS recently unveiled its financial results, disclosing an astounding $29.3 billion profit earned between April and June. This figure starkly contrasts with the $2.6 billion profit from the same period last year, representing the largest-ever quarterly return achieved by a bank.
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