Phones 4U to Close 362 Stores, Cut 1,700 Jobs

UBS is required to pay a €1.1 billion bail by French investigators for alleged money laundering, a decision they plan to appeal. Phones 4U will close over 360 shops and cut nearly 1700 jobs as it sells assets to pay bondholders, with some shops and staff being acquired by other companies. Raiffeisen Bank anticipates its first annual loss due to rising bad debt charges amid the crisis in Ukraine and Russia.

What is the amount UBS is required to pay as bail according to French investigators?

• €1.5 billion

• €2.0 billion

• €1.1 billion

• €1.7 billion

What is the main reason for Phones 4U closing over 360 shops?

• To launch a new product line

• To expand their business

• To pay bondholders and salaries

• To merge with another company

Which companies have acquired some of the Phones 4U shops?

• Apple and Samsung

• E, Vodafone, and Carphone at Dixons Carphone

• Google and Microsoft

• Amazon and eBay

What is the expected increase in Reif Eisen's loan loss provisions?

• €1.1 billion

• €1.5 billion

• €1.7 billion

• €2.0 billion

What is the primary reason for Reif Eisen's predicted annual loss?

• Expansion into new markets

• Decrease in customer base

• Investment in technology

• Rising bad debt charges due to the regional crisis