Wednesday, Jul 17th
Last update07:04:06 AM GMT
After the collapse of Lehman Brothers in September 2008, Switzerland's largest bank was teetering. UBS, which was more than three times bigger than Lehman in terms of assets, had to write down some $50 billion during that tumultuous period.
Investors the world over breathed a sigh of relief on October 16 when the Swiss government rescued UBS. But unbeknownst to them at the time, the bank faced a potentially devastating crisis on a very different front.
Three species of creature, which are only a millimetre long and resemble jellyfish encased in shells, were found 2.2 miles (3.5km) underwater on the ocean floor, 124 miles (200km) off the coast of Crete, in an area with almost no oxygen.
The animals, named Loriciferans due to their protective layer, or lorica, were discovered by a team led by Roberto Danovaro from Marche Polytechnic University in Ancona, Italy.
In what is being hailed as a major victory for workers in the biotech and nanotech fields, a former scientist with pharmaceutical firm Pfizer has been awarded $1.37 million for being fired after raising the alarm over researchers being infected with a genetically engineered "AIDS-like" virus.
Rupert Murdoch insists that his network is "fair and balanced," but he was stumped when asked which of its employees offer credibility to that claim.
A visibly nervous Murdoch folded his hands and froze for a few seconds. "I could give you a couple of names but they're certainly there," he responded. "Uh, if Roger [Ailes] were here he'd certainly spit them out very quickly. I think probably every night Greta Van Susteren is certainly close to the Democratic Party."
George W. Bush, Dick Cheney and Donald Rumsfeld covered up that hundreds of innocent men were sent to the Guantánamo Bay prison camp because they feared that releasing them would harm the push for war in Iraq and the broader War on Terror, according to a new document obtained by The Times.
The U.S. Food and Drug Administration said on Thursday it was reviewing the safety of triclosan, a widely used antibacterial agent found in soap, toothpaste and a range of other consumer products.
The agency stressed there are no grounds to recommend any changes in the use of triclosan but said some recent studies merited a closer look. One member of Congress, Massachusetts Democrat Edward Markey, called for strict limits.
Norway's Catholic Church has received new allegations of clergy abuse after revealing that its former bishop had admitted to molesting a minor in the early 1990s, a church official said Thursday.
The current bishop, Bernt Eidsvig, told The Associated Press he had received e-mails alleging new cases of abuse, but said the nature and seriousness of the claims remain unclear.
The four new studies conducted by Canadian researchers conclude that the traditional seasonal flu vaccine seems to have boosted the risk of infection with pandemic H1N1 swine flu by almost double.
An Israeli court suspended the corruption trial of former Prime Minister Ehud Olmert on Thursday, a day after a longtime confidant of the ex-premier was arrested in a multimillion-dollar bribery scandal.
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