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.
High-ranking officials across Mexico including the Attorney General are reportedly demanding answers from the U.S. government about its secret program that sent high-powered weaponry across the border to drug cartels, saying the Obama administration’s explanations so far are inadequate. The Mexican public is outraged as well.
Swiss bank UBS trader Kweku Adoboli (left) was arrested early Thursday morning and charged with two counts of false accounting and one count of “suspicion of fraud by abuse of position.” His position was director of the Delta One trading desk at UBS in London, where he had worked as a trader for the past three years and as a technical advisor for two years before that.
If the European Union begins to disintegrate, what signs would portend its spiral into disunion? One would be a member nation utterly ignoring the financial rules intended to support the EU by providing false and misleading information about its economy — actions already undertaken by both Greece and Portugal. Another indication of impending EU disintegration would be a member state simply printing its own euros — after only technically meeting the requirement of notification — as did Ireland a few months ago.
The communist Chinese regime was, at the very least, plotting to covertly arm Libyan dictator Muammar Gaddafi in violation of United Nations sanctions as recently as late July, documents discovered in Tripoli suggest. And despite official denials, analysts and rebel leaders said Beijing had actually delivered some of the weapons stockpiles.
The United Nations Security Council is considering a resolution to establish a UN mission in Libya, unfreeze assets of two major oil companies and repeal a ban on flights by Libyan aircraft. Great Britain was circulating a draft of the resolution among the 15 member nations of the Security Council Tuesday night and is hoping for a vote on it by the end of this week, the Associated Press reported on Wednesday.