If record vinyls and iTunes can co-exist in the Technological Age, Wi-Fi will allow ocean liners a slice of the airlines’ global travel monopoly
The alleged rogue trades have killed any remaining ambitions UBS might have to compete with the titans of Wall Street.
The new interim boss of UBS has been charged with reorganising its investment bank, a task which will take two to three years to complete.
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/ 24 September 2011
UBS’s chief executive Oswald Gruebel resigned on Saturday, taking the blame after its banking business lost $2.3-billion in alleged rogue trading.
Swiss banking giant UBS’s boss does not feel guilty about the $2-billion rogue trading that occurred in his bank and isn’t resigning.
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/ 17 September 2011
Pressure is mounting on bosses of Swiss bank giant UBS to quit for failing to prevent a $2-billion trading loss.
Ethical consumerism is on the rise. Do ethical companies really trump the rest? Research suggests they do, and investors want to follow the money.
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/ 20 February 2009
Switzerland was feeling the heat on banking secrecy on Friday after the US stepped up its high-stakes tax probe against the biggest Swiss bank, UBS.
Record high oil prices at a barrel deepened worries about inflation on Thursday and weighed on some Asian stocks although Japanese shares ended slightly higher, as dealers trimmed their bets on further weakness. The dollar trudged higher against the euro after earlier hitting a one-month low after the Federal Reserve slashed its United States 2008 growth forecast
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.
Increasing confidence that the worst of the credit crisis is over boosted world stocks on Monday while inflation concerns grew with oil prices heading towards a barrel. Investors have stopped taking it for granted the United States Federal Reserve will cut interest rates later in the week, although most still expect such a move.
Oil set a record above a barrel on Thursday as a drop in United States gasoline inventories raised concern of tighter supply and a weak dollar boosted investor demand for commodities. A US government report on Wednesday showed a surprise drop in crude inventories and a larger-than-expected decline in stocks of petrol.
Seretse Khama Ian Khama was inaugurated as Botswana’s President on Tuesday, inheriting a rare political and economic success story. Just next door, millions of Zimbabweans desperate to end economic misery anxiously awaited results of an election in which President Robert Mugabe faced the biggest challenge in 28 years of iron-fisted rule.
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A charm offensive by Jacob Zuma may not be enough to dispel deep investor anxiety over whether he will be able to take charge of Africa’s biggest economy, even though he has won over some doubters. Since unseating President Thabo Mbeki as leader of the ruling African National Congress in December, Zuma has moved to consolidate his power.
An affiliate of United States-based buyout firm Carlyle Group has defaulted on about ,6-billion of debt and expects its lenders to seize remaining assets as the global credit crunch tightens around leveraged investors. A ”successful refinancing is not possible,” Carlyle Capital said.
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/ 7 February 2008
President Thabo Mbeki will strive to show he is still in charge of the country on Friday when he makes his first State of the Nation address since being ousted as leader of the ruling party in December. Jacob Zuma, front-runner to succeed Mbeki as head of state, has already begun to eclipse his rival through control of the party.
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/ 30 January 2008
Fresh write-offs at big European and Japanese banks on Wednesday drove investors’ attention firmly back onto the credit crunch after days gazing at Société Générale’s stunning losses, which it blames on a junior trader. With the Federal Reserve expected to cut interest rates for the second week running, Swiss bank UBS illuminated the depth of the crisis.
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/ 24 January 2008
The government is expected to outline its plans to deal with the country’s electricity crisis on Friday. Minister of Minerals and Energy Buyelwa Sonjica and Public Enterprises Minister Alec Erwin have called a media briefing for Friday on ”plans for electricity generation in South Africa”.
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/ 24 January 2008
French bank Société Générale (SocGen) disclosed one of the biggest alleged frauds in financial history on Thursday, adding to a wave of gloom surrounding world markets battered by credit market losses. SocGen, France’s second-biggest listed bank, said it had uncovered an ”exceptional fraud” by one of its traders. It said this would cost the group â,¬4,9-billion.
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/ 24 January 2008
Recent power cuts in South Africa have enraged the public, raised questions over future investment in Africa’s biggest economy and increased scepticism in the country’s leaders at a time of political uncertainty. Economists estimate the cost of the power cuts already runs to hundreds of millions of rands.
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/ 15 January 2008
The price of gold is hitting new record highs owing to the troubled United States economy and a cocktail of other supportive factors, leading some analysts to predict  000 per ounce could happen soon. In recent days the precious metal has blasted past in a record-breaking run. On the London Bullion Market on Monday, gold blazed a trail as high as ,30 dollars per ounce.
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/ 18 December 2007
Property investors smarting from this year’s housing bust in the United States might do well to look farther afield — even out of this world. Internet searches for lunar land prices show the cost of buying an acre of the moon’s surface has risen 40% since the start of 2007.
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/ 21 November 2007
Miserable world markets dragged the JSE deeper into the red by noon on Wednesday. At noon, the all-share index dropped 1,23% and banks retreated 1,98%. Financials retreated 1,57% and industrials were off 1,81%. The platinum-mining index was down 1,36% and the gold-mining index pulled back 0,56%, while resources gave up 0,52%.
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/ 16 November 2007
Rio Tinto is reportedly considering a counter-bid for BHP Billiton as a defence against a Aus-billion takeover proposal from its bigger mining rival, but analysts said such a move was unlikely. The Wall Street Journal, citing unnamed sources, reported Rio was considering a broad array of potential options to fight off BHP.
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/ 13 October 2007
A United States appellate court on Friday allowed claims brought by victims of apartheid against dozens of major companies to go forward, saying a lower court erred in ruling it did not have jurisdiction over the matter. The plaintiffs include South Africa’s non-profit Khulumani Support Group.