Pope of Cantor Fitzgerald Favors Credit Suisse Over UBS

Stephen Pope, chief global market strategist at Cantor Fitzgerald Europe, talks with Bloomberg's Mark Barton and Sara Walker in London about UBS AG's plans to cut costs, the outlook for the banking industry and his investment strategy. UBS, battered by $17.3 billion of first-quarter losses at its investment-banking unit, plans to cut 5,500 jobs, or about 7 percent of the workforce. The reductions will include as many as 2,600 positions at the securities division. (Source: Bloomberg)

Bloomberg | May 6, 2008

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