The announcement by Kaspar Villiger (left), Board Chairman of UBS (Union Bank of Switzerland), that CEO Oswald Grübel had resigned on Saturday caught many by surprise, partly because just the day before he had said he had the board’s complete support. According to Villiger, “The Board regrets Oswald Grübel’s decision. Oswald Grübel feels that it is his duty to assume responsibility for the recent unauthorized trading incident.” He added: 

The United Nations is preparing for what is sure to be a contentious showdown, as on September 23 the Palestinians sought recognition from the world body as an independent state.

Fox News reports:

Since France passed legislation earlier this year banning the Islamic burqas, or face-veils, from its streets, the law has engendered a wave of protest. Now, in a show of opposition against the ban, an Islamic Frenchwoman, Kenza Drider, has decided to launch a bid for the French presidency. “When a woman wants to maintain her freedom, she must be bold,” she asserted.

Authorities in the United Kingdom have arrested seven suspects in connection with a terror plot. British intelligence raided more than a dozen homes and collared six men and a woman between midnight and about 7 a.m. Monday, according to news reports. They are connected, the New York Times reported, to “Islamic militancy,” which describes yet another plot by “British citizens” who are really "Asians" or of another nationality. Typically, those words are media code for Muslims.

The sovereign debt woes of the European Union are nearing a critical stage. Greece's short-term bonds have recently shot to 60 percent, indicating an extremely high probability that the ancient country will default. Though Portugal and Spain, two of the other “PIIGS” member-states in the EU, are temporarily off the radar screen, neither has solved its fundamental debt problems.

Affiliates and Friends

Social Media