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flag UBS reports a $1.69B profit, up from expectations, but warns of U.S. tariffs' threat to global markets.

flag UBS reported a first-quarter net profit of $1.69 billion, down from $1.755 billion last year but above analysts' expectations. flag The bank's global markets unit saw a 32% revenue increase, driven by higher trading activity in equities and foreign exchange. flag However, UBS warned that U.S. tariffs pose a significant risk to global growth and inflation, leading to market volatility. flag The bank expects a low single-digit decline in net interest income in the second quarter and plans to repurchase $2.5 billion in shares this year. flag Despite the positive financial results, UBS shares have dropped 10% this year, partly due to tariff concerns.

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