UBS revises 2008 loss to nearly 21BN Swiss francs

UBS AG revised its annual loss for 2008 upward by 1.2 billion Swiss francs Wednesday because of legal settlements and write-downs.
The Swiss bank said a previously announced $780 million fine and restitution package agreed with U.S. authorities to settle a massive tax evasion probe, together with write-downs on toxic assets, pushed its losses to 20.89 billion francs last year.
UBS' previously published full-year loss was 19.7 billion francs _ already a record for a Swiss company.