UBS (UBS) has ordered bankers to stop flying business class on short flights to China, Bloomberg reported Friday, citing people familiar with the matter.

China bankers must now take economy on flights shorter than five hours, the report said.

The move comes as the lender aligns its global travel policy and cuts costs in Asia in the face of slow dealmaking, the report said.

UBS did not immediately reply to MT Newswires' request for comment.

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