Trading in the US market has been "weaker than anticipated", Naked Wines warned. It also announced Nick Devlin has stepped down as CEO with immediate effect. Founder and Chair Rowan Gormley becomes executive chair on an interim basis. Devlin remains as president for Naked Wines USA "through the peak trading period" before leaving the group entirely. In Zurich, UBS shares rose 4.2%. It reported a chunkier third-quarter loss than expected. The bank, fresh from the acquisition of Credit Suisse, said revenue in the third-quarter of 2023 rose 42% on-year to USD11.70 billion from USD8.24 billion. It swung to a net loss attributable to shareholders of USD781 million, from profit of USD1.74 billion, wider than the USD444 million loss that was expected according to company-compiled consensus. "We have now stabilized Credit Suisse and continued to grow our franchise through new client acquisition and share of wallet gains, as well as the continued success of our client retention and win-back strategy," UBS said.