![]() ![]() ![]() UBS's five-year CDS spreads rose 24 basis points – or 0.24pc – on Monday to 156. The higher their value, the greater the premium that an investor must pay to insure themselves against the default of the underlying asset. ![]() UBS is now facing questions that by subsuming Credit Suisse, chief executive Ralph Hamers may have bitten off more than it can chew.Ī spike in the price of UBS's credit default swaps (CDS) – reaching highs last seen in the grip of a bloc-wide debt crisis 11 years ago – certainly suggested so.ĬDS are a crucial indicator of the likelihood that a company will pay their debts as they fall due. “Why they chose to up that bid twice is bizarre.”Īny suggestion that UBS overpaid for Credit Suisse does not augur well for investors in what will be Switzerland’s only remaining bulge bracket bank. They didn’t have any other options other than nationalisation by the Swiss government. “So somehow they upped the bid by 200pc when Credit Suisse shareholders were lucky to get anything. And by Sunday lunchtime that had gone to 50 cents. “They originally proposed to pay 25 cents on Sunday morning. More on this here.That UBS paid just £2.5bn for a rival that was valued at £10bn days earlier might ordinarily appear to be a coup for the buyer's investors.īut Barry Norris at Argonaut Capital, a London short-seller that predicted Credit Suisse’s demise, is not happy. Apple's digital download service is currently targeted with sophisticated identity theft attacks, email security vendor Proofpoint reports. In other "iNews," Apple's iTunes was just hit by the first phishing attack. You can grab a demo of the latest stable version (Music Rescue 3.1.6) following this link. Keep in mind that if you own a Music Rescue version 3.x purchased on, or after April 1st, 2008, you will be able to upgrade to version 4.0 for free, in June, when the final, stable version is released. Smart Playlist support, an improved media player, and faster, smoother copying are also among the new features brought by the latest version. "Music Rescue 4.0 includes a brand new feature: QuickRecover, intended for users who want to recover all of their media quickly and plainlessly ," the developer's website reveals. The result is a more pleasant and intuitive workflow," KennettNet assures. "Music Rescue 4.0 has been completely re-written from scratch, allowing us to redesign every aspect of the user interface. A new license, on the other hand, will cost you $19. If you're the proud owner of Music Rescue version 3.x, as soon as the beta is over and version 4.0 is released, you'll be able to upgrade free of charge. The latest major update to Music Rescue is (obviously) in the final stages of development, which means that it will be released really soon. The registration form is available right here, just so we can clear that out of the way. Beta applicants receive a discount coupon worth 50% off the price of Music Rescue 4.0. The latest version of the popular iPod recovery tool adds a new UI, providing a more pleasant and intuitive workflow, but also a QuickRecover feature for those who want to recover everything in the shortest time possible. KennettNet Software is accepting applications for the beta testing of Music Rescue 4.0.
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