Viewsroom: UBS gets lost in translation

Viewsroom

Reuters

News

4.4 • 58 Ratings

🗓️ 20 June 2019

⏱️ 18 minutes

🔗️ Recording | iTunes | RSS

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Summary

A star economist at the Swiss bank sparked outrage on Chinese social media after his remarks about the country’s pigs were misconstrued. UBS’s decision to put him on leave seems overdone. And: Those weighing the benefit of a Facebook cryptocurrency must ask if “In Zuck we trust.” See acast.com/privacy for privacy and opt-out information. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Where do you find a clear signal in a world of static?
0:03.2	In a time of rapid change cut through the noise,
0:06.2	the economist goes beyond the headlines to decode the forces shaping today and defining tomorrow.
0:12.7	Get the full story.
0:14.1	It's more than news.
0:15.4	It's a trusted global perspective.
0:17.7	The economist know which way is up.
0:20.8	The views expressed on this podcast are those of the participants. perspective. The economist know which way is up.
0:26.8	The views expressed on this podcast are those of the participants, not of Roiders' News.
0:36.1	Welcome to the Views Room, a podcast from Reuters' Breaking Views. I'm Anthony Curry, and with me here is my co-host, Jennifer Saber. Hi, Jen.
0:38.0	Hi.
0:38.9	So later in the show, we'll attempt to get to the bottom of what Facebook's new cryptocurrency
0:43.4	is all about. First, though, we make way for our colleagues in Asia to explain how
0:47.6	talking pork has left Swiss Investment Bank UBS being roasted on the proverbial spit.
0:54.8	I'm Pete Sweeney. I'm here in Hong Kong.
0:57.0	I'm talking with Alec McFarlane about the recent kerfuffle in China over comments made by
1:02.1	UBS wealth management economist.
1:04.7	He was talking in a podcast about pork prices.
1:08.1	He made a comment that was misconstrued or correctly construed, depending on which side of
1:13.2	this debate you take, about Chinese pigs. The analyst community in China got up in arms a bit. It went
1:19.8	viral on Chinese social media. Now he's in hot water. UBS is trying to figure out how to manage the
1:26.3	situation. Alec, how did we get here?
	...

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