While Mr. Adoboli was in court in London, UBS's chief executive, Oswald J. Grubel, was at a board meeting in Singapore where executives discussed the future of the investment banking business and how to improve earnings by restoring investor and client confidence.
For our pensioners – the earnings link restored.
Stocks recovered somewhat Wednesday after strong earnings reports restored investor confidence, analysts said.
Neither the recent job gains nor the rise in average hourly earnings have restored confidence that the government can do much to improve the lives of working-class and middle-class people.
The Nordic insurer, Skandia, named Hans-Erik Andersson as chief executive to lead efforts to revive earnings and restore investor confidence after some of the company's business practices were criticized.
However, a source at the Treasury dismissed the report's finding as a "bit of a scare" and said that a new improved single state pension will come on stream in 2016 with the link to earnings also restored, which should mean that millions of pensioners should be in line for increased payouts.
He may be right, especially if the Tories were smart enough to concentrate all their tax-cutting efforts in ways that were both fair and economically efficient for example, by restoring the earnings threshold at which people start to pay tax to its 1997 level.
But the opposition's solution, of restoring the earnings link, will not eliminate means-testing.
Prisongate Poor, old, confused Flawed ceilings Switched over Nice ish) policies, shame about the leader ReprintsIn the long term though, restoring the earnings link will be costly.
"I don't want them doing any big acquisitions," said Mr. Wharton of Loomis, Sayles, who said he would rather see the company focus on restoring internal earnings growth.
