Swiss bank UBS said on Thursday it had axed 2,000 U.S. jobs as part of its latest mammoth round of job cuts announced earlier in April. "I can confirm the 2,000 job cuts," said UBS spokesman Andreas Kern. The world's biggest wealth manager employs nearly 30,000 people in the United States. UBS had informed 600
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Apple Inc is hiring new employees from the semiconductor industry and is building the capability to design its own chips, the Wall Street Journal reported on Wednesday. The iPhone and iPod maker hopes its efforts will lead to new features for its devices and enable it to share fewer details about it plans with outside
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Cyprus President Demetris Christofias and his spouse Elsi departed today for London, on a private visit until Sunday. During his visit President Christofias will brief the Cypriot overseas community there about the Cyprus issue and the ongoing direct negotiations, which began between the leaders of the two communities here with a view to reunite the
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Aristofanis Georgiou, head of the Cypriot delegation to the Parliamentary Assembly of the Council of Europe, met today with PACE President Lluis Maria de Puig whom he briefed on the current phase of the direct negotiations, between Cyprus President Demetris Christofias and Turkish Cypriot leader Mehmet Ali Talat. Underlying the strong will of the Greek
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The Cyprus flag has been removed from the US Coast Guard's annual targeted flag list, the Ministry of Communications and Works has announced. “This development represents another positive result in the continuing effort of the Department of Merchant Shipping for a qualitative upgrade of the Cypriot fleet and of the Cypriot flag's image,” the Ministry
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British consumer confidence recovered to its highest level in a year in April as gloom over the economic outlook dissipated to levels not seen since the start of the credit crunch, a survey showed on Thursday. The GfK/NOP consumer confidence barometer rose three points to -27 this month, its highest level since April 2008 and
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Chrysler rushed to clinch deals with Fiat SpA and a fractious group of lenders on Wednesday in a last-ditch effort to avoid bankruptcy ahead of a government-imposed April 30 restructuring deadline. According to a report in the Wall Street Journal citing people familiar with the matter, those efforts hit a major roadblock late in the
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British house prices resumed their slide in April, data from mortgage lender Nationwide showed on Thursday, suggesting last month's rise was no more than a blip in a downward trend. Nationwide said the average house price fell 0.4 percent on the month, partly reversing a surprise 0.9 percent rise in March. Prices were 15 percent
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President Barack Obama sought to reassure Americans on Wednesday he was making progress tackling the economic crisis and repairing the United States' image abroad, but urged patience. "We are off to a good start. But it is just a start," Obama told a White House news conference as he assessed his first 100 days in
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With signs the deep U.S. economic swoon may be easing, Federal Reserve policy makers appear ready to hold off new measures to flood the economy with money while keeping interest rates steady near zero on the final day of a two-day meeting on Wednesday. The Fed's interest-rate setting Federal Open Market Committee is due to
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