Word: month
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Banks are the backbone of Switzerland's economy, accounting for 12% of national GDP, and for decades they have been central to the Swiss view of themselves. But the past few months have not been good for the industry, and in particular UBS, which has been under a cloud since last summer. That was when news broke that U.S. authorities were investigating the world's largest manager of private wealth for its role in helping rich Americans hide $200 billion in undisclosed offshore accounts to avoid taxes. Last month UBS agreed to pay the U.S. a $780 million penalty...
...Unfortunately, this policy has not protected outsourced workers from becoming some of the first targets of layoffs. Last month, Harvard announced that it would cut 13 of 27 jobs contracted through American Cleaning Company at Harvard Medical School and would reduce some 30 to 40 percent of costs allocated to OneSource, the cleaning subcontractor for Harvard Real Estate properties. Only about 40 percent of Harvard’s custodial staff is directly hired, so similar measures at other schools and departments would drastically affect the overall custodial staffing levels. These cuts are part of a university-wide effort to reduce...
...crosswalk filled with people, the woman slaloms her large bicycle between startled pedestrians - barking at them to stand clear despite their having the right of way. "Dégagez!" She shouts the order to give way. "Why are people so stupid?" (See pictures of the U.S.'s National Bike Month...
...month on, though, and the joke's looking less funny and more like an accurate prediction. Ireland's banks are edging ever closer to the brink of meltdown, and some analysts say six months looks a little too generous...
...relief for the 1.5 million people there who are reeling under the impact of a 22-day Israeli assault that ended in January. Until its last days, the Bush Administration not only had backed Israel's offensive against Hamas militants in Gaza but had also supported a punishing, 19-month economic blockade of the territory. At an international donor conference in Egypt on Monday, Clinton pledged $300 million for humanitarian aid to Gaza...