Shares of Milan Station could fall today after the retailer of second-hand designer bags warned of a loss for this year. In a filing with the Hong Kong stock exchange on Friday, Milan Station chief executive Yiu Kwan-tat said the expected loss was due to continued slow demand for luxury handbags and weakened consumer sentiment. The firm's shares last traded at 58 HK cents. Bien Perez
UBS, Switzerland's largest bank, will cut as many as 10,000 jobs or 16 per cent of its workforce as the trading business shrinks, according to a person with knowledge of the plan. Most cuts would be in the trading businesses and would occur over several quarters. They might be announced tomorrow when UBS reports third-quarter earnings. It had about 63,250 employees in June. Bloomberg