‘I protected Pityana’s job’
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A sensible climate policy must balance the imperative of decarbonisation, socioeconomic policy and security of supply considerations
South African giants in the firing line as investor decides to drop carbon-heavy companies
UBS will cut 5 500 jobs in one the biggest purges seen so far in the financial markets crisis, as the Swiss wealth-management titan slashes at the investment bank that plunged it into turmoil. UBS also said it has a preliminary deal with United States asset manager BlackRock to sell a -billion portfolio of subprime mortgages.
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/ 31 October 2007
Merrill Lynch parted company on Tuesdya with its chief executive, Stan O’Neal, leaving the investment bank’s leadership in a state of limbo and prompting unease on Wall Street. After days of speculation, Merrill announced that O’Neal (56) had decided to retire with immediate effect.
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/ 29 October 2007
As Merrill Lynch’s board deliberates the fate of chairperson and chief executive Stan O’Neal, a leading contender for the job on Sunday said he is not aware of being a candidate. Meanwhile, Merrill’s board has reached a broad consensus to remove O’Neal as chairperson and CEO, the New York Times reported on Sunday.