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  • UBS hit by further $4bn write-down ($18bn for 2007)

    01/29/2008 11:41:08 PM PST · by TigerLikesRooster · 5 replies · 103+ views
    FT ^ | 01/30/08 | Haig Simonian
    UBS hit by further $4bn write-down By Haig Simonian in Zurich Published: January 30 2008 07:21 | Last updated: January 30 2008 07:21 UBS, one of the biggest casualties of the US subprime crisis, on Wednesday revealed a further $4bn in write downs on its portfolio of troubled mortgage-related securities. The surprise announcement, coming ahead of the Swiss bank’s annual results on February 14, means UBS will report a net group loss of about SFr4.4bn ($4bn) for 2007. UBS said the full-year loss, which it had signalled when disclosing initial fourth-quarter subprime writedowns of $10bn last month, stemmed from additional...
  • Paul H. Nitze, Missile Treaty Negotiator and Cold War Strategist, Dies at 97

    10/21/2004 11:46:04 AM PDT · by OESY · 2 replies · 557+ views
    New York Times ^ | October 21, 2004 | MARILYN BERGER
    Paul H. Nitze, an expert on military power and strategic arms whose roles as negotiator, diplomat and Washington insider spanned the era from Franklin D. Roosevelt to Ronald Reagan and helped shape America's cold war relationship with the Soviet Union, died Tuesday night at his home in Washington. He was 97. The cause was pneumonia, said his wife, Elisabeth Scott Porter. From the beginning of the nuclear age, whether in government or out, Mr. Nitze urged successive American presidents to take measures against what he saw as the Soviet drive to overwhelm the United States through the force of arms....