U.S. Seen to Sustain Growth for Two Years in Poll

May 17 (Bloomberg) -- The U.S. economy will continue to recover until at least 2015 without tumbling into a recession, according to a poll of investors, analysts and traders who are Bloomberg subscribers. With the economy creating an average of 208,000 jobs a month since November, 69 percent of those surveyed call the recovery "sustainable" while 27 percent anticipate a new recession within two years. Michael McKee reports on Bloomberg Television's "In the Loop." (Source: Bloomberg)

Ermotti: UBS Operating in a `Challenging' Environment
06:30 - UBS Group AG said profit slipped 14 percent in the second quarter as both wealth management and investment banking generated less revenue during a rocky period for markets. Net income fell to 1.03 billion Swiss francs ($1.05 billion), from 1.21 billion francs a year earlier, the Zurich-based bank said in a statement Friday. That beat the 668 million-franc average of five analyst estimates compiled by Bloomberg. UBS CEO Sergio Ermotti told Bloomberg's Manus Cranny in Zurich the lack of visibility has an impact on clients’ risk aversion, saying “at this stage, our job is to stay close and try to find the right risk profile for clients. Many of them want to be extremely conservative.” Ermotti added that Brexit is posing “a lot of challenges” to the U.K. and the rest of Europe but UBS has a “high degree of flexibility.”
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