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Credit Suisse, Switzerland's second largest bank, posted a $7 billion loss in 2008 and slashed thousands of jobs. But so far it has not suffered from the loss of client confidence that UBS faces. The biggest winners are small banks because "they keep their noses clean and stay out of the United States," Bretholz says. "The Swiss want their money to be safe, and they can no longer find security in big banks that operate internationally and are exposed to global risks...
...countries will convene in Copenhagen for the third and final round of meetings to negotiate a successor to the Kyoto Protocol, the existing global framework on climate change. Until recently, many in the international community were downbeat about the prospects of effective legislation to come out of Copenhagen. Yet clean energy figured prominently in Obama’s stimulus package, renewing hope among many that American initiative on global warming might galvanize the world’s other largest polluters to act decisively to cut down on CO2 emissions. As the industrial power of the 21st century, China recognizes that...
...Caribbean, but they’re really just offering lousy and obnoxious guided visits that aren’t as good as the free tours—Well, the three lies are, first, there aren’t just three lies. Second, your friends from Dorm Crew will clean your bathroom every two weeks. Three, you will “take advantage of” Boston all the time. Ol’ Beantown! So many other fun cool teens. What a city. Ol’ Beantown! Four, of course you’ll get a job. You?...
...heard the attack and spun around," recalls Abdul Ghani Butt, 30, a foreign-currency dealer who was on his way to work at the time. "It was just like the Mumbai attacks. They were young, about 25-to-30 years of age, coming from different directions. Some were clean-shaven, others bearded. They were wearing tracksuits and carried backpacks. One of the men then put down his rocket launcher and pulled out a rifle. He changed the magazine so quickly that it could only have been done by a professional. The others were walking around so calmly, across the grass...
...local television channel captured glimpses of the attackers mounting the attack. Prominent in the footage is a pair of men moving around together, crouching on their knees as they open fire. One appears to be a clean-shaven man young enough to be a teenager who is wearing a T shirt, jeans and sneakers. His companion is a taller man who appears to be in his 20s, wearing a brown shalwar kameez (traditional Pakistani dress) and a beard. One senior police officer in Lahore was quoted by the local media as speculating that the men were Pashtun, the ethnic group...