“No amount of profit is more important than the reputation of this firm, and we are committed to doing business with integrity”

Business quote of the day.

“No amount of profit is more important than the reputation of this firm, and we are committed to doing business with integrity”.

UBS chief executive Sergio Ermotti, speaking after the bank was fined by Swiss, British and US regulators as an investigation revealed evidence of massive misconduct in the setting of Libor. Today it was confirmed that Hong Kong authorities have also launched an investigation into "possible misconduct" by UBS in submissions for Hong Kong's inter-bank lending rate.

Hong Kong authorities have also launched an investigation into "possible misconduct" by UBS. Photograph: Getty Images

Helen Roxburgh is the online editor of Economia

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The Deep Dive podcast: Mandates and Manifestos

The New Statesman's Deep Dive podcast.

Ian Leslie and Stewart Wood return for another episode of the Deep Dive. This time they're plunging into the murky world of election promises with Catherine Haddon, resident historian at the Institute of Government. Together they explore what an electoral mandate means, what a manifesto is for, and why we can't sue the government when they fail to keep their promises.

Plus: Rant or Rave? Find out which podcasts have had our hosts on tenterhooks.

Listen to this episode of The Deep Dive now:

 

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