UBS was kicked off a $1 billion bond deal because China is angry about a joke a senior economist made about pigs

'Chinese consumer prices rose. This was mainly due to sick pigs. Does this matter? It matters if you are a Chinese pig,' economist Paul Donovan said.

UBS and China are in a bitter dispute over an economic briefing which officials in Beijing have interpreted as a racial slur. The dispute appears to have had real costs for UBS: on Monday it was excluded from advising one of China's biggest state-owned companies on a billion-dollar bond deal. Paul Donovan, the chief economist at the bank's wealth management arm, made the comments during an audio briefing published last Wednesday. "Chinese consumer prices rose.

UBS and China are in a bitter dispute over an economic briefing which officials in Beijing have interpreted as a racial slur. The dispute appears to have had real costs for UBS: on Monday it was excluded from advising one of China's biggest state-owned companies on a billion-dollar bond deal. Paul Donovan, the chief economist at the bank's wealth management arm, made the comments during an audio briefing published last Wednesday. "Chinese consumer prices rose.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

BusinessInsider /  🏆 729. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

UBS loses role in bond deal for Chinese firm on outcry over pig commentUBS has lost a lead role on a U.S. dollar bond deal for state-backed China Railw...
Read more »

UBS loses role in bond deal for Chinese firm on outcry over pig commentUBS has lost a lead role on a U.S. dollar bond deal for state-backed China Railw...
Read more »

Chinese state media urges retribution after UBS economist's 'insult'Those who insult Chinese people should pay the price in order to deter would-be ...
Read more »

UBS Economist Put on Leave After ‘Chinese Pig’ CommentA comment from a London-based economist at UBS Group has sparked furor among Chinese securities professionals—even after he apologized.
Read more »

Breakingviews - UBS sets a troubling precedent in China(Reuters Breakingviews) - UBS has set a troublesome precedent in China. The Swis...
Read more »

China Railway Construction says won't work with UBS on dollar-bond saleChina Railway Construction Corp (CRCC) has decided not to cooperate with UBS for...
Read more »