Optimism Returns to Ohio County Sullied by Scandal
March 4 (Bloomberg) -– Ed FitzGerald, executive of Cuyahoga County, Ohio, talks with Bloomberg’s Mark Niquette about changes in the county following a scandal that saw its top officials charged with bribery. Voters in Ohio’s most populous county have done their part, restructuring a government critics said was inefficient and allowed back-room dealing, and companies have signed a pledge to uphold ethical standards and combat a culture of corruption. (Source: Bloomberg)
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UBS Made `Good Progress' On Costs, Says CEO Ermotti
39:26 - UBS Group AG said pretax profit rose 11 percent in the third quarter as lower costs helped offset a drop in earnings at the wealth management and investment banking divisions. Pretax profit rose to 877 million Swiss francs ($883 million) from 788 million francs a year earlier, the Zurich-based bank said in a statement Friday. That compares with the 862 million-franc average of six analyst estimates compiled by Bloomberg. CEO Sergio Ermotti says UBS has “very comprehensive and quite ambitious” cost reduction plans in discussion with Nejra Cehic and Manus Cranny on "Bloomberg Daybreak: Europe."