Word: giante
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Swiss banking giant UBS takes its name from the first initials of the company's original moniker Union Bank of Switzerland. But over the past few months the Swiss have begun to joke that the acronym should stand for United Bandits of Switzerland. Fury over a tax scandal and massive losses thanks to UBS's exposure to the toxic subprime market in the U.S. is growing fast. "Those arrogant and greedy bankers are tarnishing our image," says Marie-Claire Favre between sips of her cappuccino in a Lausanne cafe. Standing in front of UBS's Lausanne office, Bernard Thevenoz...
...were being encouraged by the government to plant the flag of Chinese capitalism around the world by purchasing stakes in foreign companies. China was booming, flush with cash and full of optimism - naive optimism, it turned out. In 2005, China National Offshore Oil Corp., China's oil and gas giant, tried to buy Unocal, the American oil company, and learned just how xenophobic Washington could be: the deal was called off after strident objections from congressional leaders. Two years later, Beijing's fledgling sovereign wealth fund China Investment Corp. poured $3 billion into Blackstone in return for a 10% stake...
Brazil is no stranger to economic crises. In the 1970s and '80s, Latin America's economic giant turned financial mismanagement into an art form. The current global turmoil has not left Brazil unscathed: stock prices, exports and growth are all down. But something interesting is at work this time around, and the best place to see it is in one of Brazil's favelas, the vast urban slums that are desperate even in the best of times. Walk through São Paulo's sprawling Brasilândia, though, and you don't sense the relentless doom and gloom gripping...
Senator Charles E. Grassley asked pharmaceutical giant Pfizer, Inc., to disclose all financial ties to Harvard Medical School faculty on Tuesday, citing a recent New York Times report that 149 of the school’s faculty members have ties to the company. In a letter addressed to the Pfizer CEO, Grassley—a Republican from Iowa who has been an outspoken critic of conflicts of interest in medical research—gave the company until March 10 to produce a “detailed account” of payments to Medical School faculty since the beginning...
...goal of looking at 100,000 stars to try to find a habitable planet. His specific role in this mission is to see whether the planets are rocky or gaseous, which will be done through calculating the planet’s density. “This is a giant puzzle and he’s putting the pieces together,” Zgorski said. “He is stellar, pun intended...