Guardians Of An Ancient Language Embrace Symbols Of Rapid Progress They banned the film but they couldn’t stop the word brokeback from entering the Chinese language.... Read Full Article Apple Introduces Innovative Cellphone The iPhone will cost $499 or $599 and will be available with a single carrier, Cingular Wireless, at midyear.... Read Full Article Steakhouses Accept Offer The Smith & Wollensky Restaurant Group agreed to be bought by the Patina Restaurant Group for $94.6 million.... Read Full Article Scam Czars: What’s Russian For ?Hacker?? A formula for Web schemes: a lot of mathematicians, a lax legal system and Western targets.... Read Full Article Soccer Notebook: Revival For Owen, And Renewal For Newcastle After struggling with injuries for much of the past three seasons, Michael Owen has apparently rediscovered his scoring touch ? and not a moment too soon.... Read Full Article |
Accurate NewsSchiller says US house price fall may doubleRobert Shiller, the Yale university economics professor who accurately predicted the top of the internet boom, said today that there is a good chance that residential property prices will fall further than those sustained during the Great Depression when home values fell by 30 per cent.Read Full Article CBI warns on slow UK growth as Treasury holds its breathAlistair Darling could be forgiven if he had quietly crossed his fingers as he signed off on this month’s relatively upbeat Treasury forecasts for Britain’s economic outlook for this year and next. Economic forecasting is a dangerous game in the calmest of times but in times of financial turmoil economists can be left wondering if tea leaves might have proved more accurate.Read Full Article Music Review: For a Conductor’s Milestone Performance, Opera in Concert and as a CelebrationEve Queler’s 100th performance at Carnegie Hall with the Opera Orchestra of New York, on Thursday night, was an accurate encapsulation of the previous 99.Read Full Article Iran Is Reported to Test New Centrifuges to Make Atomic FuelIran’s use of more advanced technology may intensify a debate in Washington about whether a recent official report accurately portrayed Tehran’s progress toward the ability to build a nuclear weapon.Read Full Article UBS admits that it still cannot quantify its exposure to sub-prime crisisThe cloud of uncertainty hanging over the credit markets was thrown into sharp relief yesterday as UBS told investors that it still could not be sure about the full financial impact of the credit crunch.<br/> <br/> UBS is preparing for writedowns of $13.4 billion ($£6.8 billion) against its exposure to the downturn in American sub-prime mortgages.<br/> <br/> The Swiss bank wrote to investors yesterday telling them that it could not rule out having to record further losses. “We cannot, at this time, accurately predict the future development of US residential mortgage markets and therefore the ultimate impact on our positions in sub-prime mortgage related securities,” the bank told investors in a letter signed by Marcel Ospel, the chairman, and Marcel Rohner, the chief executive.<br/> <br/> Analysts said that UBS’s uncertainty about its financial position underscored the wider nervousness about the credit markets, amid predictions of a fresh round of losses when banks begin to report full-year results in coming weeks.<br/> <br/> Alex Potter, at Collins Stewart, said: “I think in general terms that it is still clear that it will get worse before it gets better. In short: expect more writedowns.”<br/> <br/> UBS was writing to shareholders to try to secure support for a SwFr13 billion (£6 billion) capital injection from a Singapore sovereign wealth fund and a mystery Middle East investor. Late last year the bank said that the Government of Singapore Investment Corporation would inject SwFr11 billion for a stake of about 9 per cent. An unnamed investor from the Middle East, thought to be the Saudi Arabian Monetary Agency, would contribute a further SwFr2 billion for an additional small shareholding, it said.<br/> <br/> Some shareholders objected to the terms of the financing, which involves the issuance of securities convertible into UBS shares. They threatened to vote down the deal at a special meeting next month unless they were given more details.<br/> <br/> Stating its case for the investment, UBS admitted in its letter that it had considered a rights issue to stabilise the balance sheet when it realised it was heading for heavy losses. It rejected this on the grounds of “cost, complication and time”.<br/> <br/> The bank said that it also feared international credit agencies might down-grade its ratings as a result of the losses. This would weaken its funding position and drive up its cost of borrowing on wholesale money markets.<br/> <br/> UBS acknowledged that it had concerns about the possibility of “unease” among clients and stakeholders because of the extent of its suffering at the hands of the market turbulence.<br/> <br/> “In view of these adverse market developments, it became increasingly evident that substantial additional writedowns would be required,” the bank wrote, in reference to the sustained money market liquidity crisis in October, November and December. “We then knew that we faced the risk that the sheer size of these numbers, the resulting reduction in our capital ratios and any remaining uncertainty about the ultimate value of our positions could lead to an increased unease for clients and other stakeholders.”<br/> <br/> UBS has been among the investment banks hardest hit by the credit crunch and has maintained that it needs the capital injection to shore up its financial strength. “During 2008, the environment for financial markets, especially in the US, is uncertain, and we need to manage through this period from a position of financial strength,” it said.<br/> <br/> A spokesman for the bank said it was not concerned about the possibility of a shareholder rebellion. He said that UBS was updating investors about the terms of the financing and the letter was in line with its desire to be transparent. Investors accounting for two thirds of the share capital need to approve a capital issue in order for the funding to go ahead.Read Full Article External News for: accurateChina Orders Accurate Tally of Its Cases - Wall Street JournalUnited Press InternationalChina Orders Accurate Tally of Its CasesWall Street JournalBEIJING -- China's health ministry ordered accurate reporting of the spread of H1N1 influenza and threatened to punish officials who conceal ...China orders accurate swine flu talliesAFPMOH responds to expert doult over flu reportsChina DailyLocal officials urged to tell H1N1 truthChina Dailyall 192 news articles »China Orders Accurate Tally of Its Cases - Wall Street JournalUnited Press InternationalChina Orders Accurate Tally of Its CasesWall Street JournalBEIJING -- China's health ministry ordered accurate reporting of the spread of H1N1 influenza and threatened to punish officials who conceal ...China orders accurate swine flu talliesAFPMOH responds to expert doult over flu reportsChina DailyLocal officials urged to tell H1N1 truthChina Dailyall 192 news articles »Mammogram advice accurate but not 'right' - msnbc.comABC NewsMammogram advice accurate but not 'right'msnbc.comDid you hear an enormous thud around 3 pm yesterday? That was the sound of Secretary of Health and Human Services Kathleen Sebelius ...Task Force Member Defends Mammography GuidelinesU.S. News & World ReportMammogram controversyExaminer.comMammograms: risk of cautionSan Francisco ChronicleLos Angeles Times -Tampabay.comall 2,939 news articles »China Orders Accurate Tally of Its Cases - Wall Street JournalUnited Press InternationalChina Orders Accurate Tally of Its CasesWall Street JournalBEIJING -- China's health ministry ordered accurate reporting of the spread of H1N1 influenza and threatened to punish officials who conceal ...China orders accurate swine flu talliesAFPMOH responds to expert doult over flu reportsChina DailyLocal officials urged to tell H1N1 truthChina Dailyall 192 news articles »Mammogram advice accurate but not 'right' - msnbc.comABC NewsMammogram advice accurate but not 'right'msnbc.comDid you hear an enormous thud around 3 pm yesterday? That was the sound of Secretary of Health and Human Services Kathleen Sebelius ...Task Force Member Defends Mammography GuidelinesU.S. News & World ReportMammogram controversyExaminer.comMammograms: risk of cautionSan Francisco ChronicleLos Angeles Times -Tampabay.comall 2,939 news articles »Sources: Progress on Shalit is real, but not all reports accurate - Ha'aretzHa'aretzSources: Progress on Shalit is real, but not all reports accurateHa'aretzNonetheless, only some of the details reported in the foreign media are accurate. According to the daily, Al-Manar, the German mediator involved in the ...and more » |
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