UBS's second-quarter profit more than doubled from a year earlier, beating expectations on a surge in trading activity even as regulatory uncertainty continued to preoccupy the bank.

ZURICH] UBS’ second-quarter profit more than doubled from a year earlier, comfortably ahead of expectations, as it joined other major banks in making the most of a surge in trading activity amid market turmoil.

Good morning. UBS’s profit tops expectations in a busy day of European earnings. A powerful earthquake triggers tsunami warnings from Japan to the US. And the rank of billionaires at Nvidia swells. Listen to the day’s top stories.