Swiss bank UBS to cut up to 5,500 jobs
5 hours ago
ZURICH (AFP) =97 Swiss banking giant UBS said on Tuesday it could cut up
to 5,500 more jobs within the next year as it struggles to recover
after wracking up huge losses in the US subprime crisis.
UBS, which is the worst-hit bank worldwide by the subprime crisis on
its massive writedowns, said its net loss for the first three months
of the year reached 11.535 billion Swiss francs (7.075 billion euros,
10.972 billion dollars).
Writedowns for the quarter were 19 billion Swiss francs, in line with
a warning issued by the bank in April in which it gave the same figure
for the writedowns as well as a net loss expectation of about 12
billion Swiss francs.
However, the notable lack of fresh writedowns beyond the 37 billion
dollars UBS had led some analysts previously to comment that the
"worst may be over" for the bank and indeed, the banking sector.
Thank GOD the USA is rapidly bleeding to death and the war crimes
trials can soon begin
www.costofwar.com
There have been 4,373 coalition deaths -- 4,065 Americans, two
Australians, 176 Britons, 13 Bulgarians, one Czech, seven Danes, two
Dutch, two Estonians, one Fijian, one Hungarian, 33 Italians, one
Kazakh, one Korean, three Latvian, 22 Poles, three Romanians, five
Salvadoran, four Slovaks, 11 Spaniards, two Thai and 18 Ukrainians --
in the war in Iraq as of May 2, 2008, according to a CNN count.
{ Graphical breakdown of casualties }. The list below is the names of
the soldiers, Marines, airmen, sailors and Coast Guardsmen whose
deaths have been re****ted by their country's governments. The list
also includes seven employees of the U.S. Defense Department. At least
29,911 U.S. troops have been wounded in action, according to the
Pentagon. View casualties in the war in Afghanistan.
Iraq
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