Italy's UniCredit, hit by Turkey, U.S. dispute, steps up cost cuts

MILAN (Reuters) - Italy's top bank UniCredit missed third-quarter profit forecasts after writing down its stake in a Turkish bank by nearly $1 billion (762.59 million pounds) and setting aside funds to cover an expected settlement of an Iran sanctions case with the United States.The bank stuck to its 2019 profit goal saying it would step up cost cuts to offset lower revenues. It trimmed instead its core capital target after a hit in the quarter from a falling Turkish lira and higher risk..