title: Slasher film

text: Internationally, the slasher film remained profitable. Mexico released "Zombie Apocalypse" (1985), "Don't Panic" (1988), "Grave Robbers" (1990) and "Hell's Trap" (1990). Europe saw releases from Sweden's "Blood Tracks" (1985), The United Kingdom's "Lucifer" (1987), Spain's "Anguish" (1987) and Italy's "StageFright" (1987) and "BodyCount" (1987). In the Pacific, Australia released "Symphony of Evil" (1987), "Houseboat Horror" (1989), and "Bloodmoon" (1990), while Japan released "Evil Dead Trap" (1988).


title: Slasher film

text: By 1989 the major series had faded from public interest, resulting in box office failures from "" (1989), "" (1989) and "" (1989). "The Dream Child"'s 5.6 million tickets were a sharp decline, while "Jason Takes Manhattan" and "The Revenge of Michael Myers" each sold only about 3 million tickets. Due to the declining ticket sales, rights to the "Friday the 13th" and "Halloween" series were sold to New Line Cinema and Miramax Films, respectively. Now owning both the Jason Voorhees and Freddy Krueger characters, New Line would look into a series-crossover event film. "" (1991) and "" (1993) began this crossover series, but profit losses from both films stalled the project for a decade. "" (1995) was released under Miramax's Dimension Films banner to negative fan reaction and a weak box office.


title: Slasher film

text: Wes Craven's "New Nightmare" (1994) used characters from his original "Elm Street" film in self-referential and ironic ways, as the actors played versions of their true personas targeted by a Freddy Krueger-inspired demon. "New Nightmare" sold 2.3 million tickets the North American box office. The slasher film's surprising resurrection came in the form of "Scream" (1996), a box office smash and redefined the genre's rules. Directed by Craven and written by Kevin Williamson, "Scream" juggled postmodern humor with visceral horror. The film played on nostalgia for the Golden Age, but appealed to a younger audience with contemporary young actors and popular music. Williamson, a self-confessed fan of "Halloween" (1978), "Prom Night" (1980), and "" (1986), wrote the characters as well-versed in horror film lore and knowing all the clichés that the audience were aware of. The film grossed $173 million worldwide, it became both the highest grossing slasher film of all time and the first one to cross $100 million at the domestic box office, and the most successful horror film since "The Silence of the Lambs" (1991). The marketing for "Scream" distanced itself from the slasher subgenre as it passed itself as a "new thriller" that showcased the celebrity of its stars, promoting the appearances of then-popular stars Drew Barrymore, Courteney Cox and Neve Campbell over its violence.


title: Slasher film

text: Williamson's follow-up, "I Know What You Did Last Summer" (1997), was heavily inspired by "Prom Night" and "The House on Sorority Row" (1983). Released less than a year after "Scream" to "critic proof" success, the film sold nearly 16 million tickets at the North American box office. Two months later Dimension Films released "Scream 2" (1997) to the highest grossing opening weekend of any R-rated film at the time; the sequel sold 22 million tickets and was a critical hit. Taking note from the marketing success of "Scream", the promotional materials for "I Know What You Did Last Summer" and "Scream 2" relied heavily on the recognizability of cast-members Rebecca Gayheart, Sarah Michelle Gellar, Jennifer Love Hewitt, Joshua Jackson, Laurie Metcalf, Jerry O'Connell, Ryan Phillippe, Jada Pinkett, Freddie Prinze Jr. and Liev Schreiber.


title: Slasher film

text: "Scream" and "I Know What You Did Last Summer" were internationally popular. In Asia, Hong Kong released "The Deadly Camp" (1999) and South Korea released "Bloody Beach" (2000), "The Record" (2001), and "Nightmare" (2000). Australia's postmodern "Cut" (2000) cast American actress Molly Ringwald as its heroine. Britain released "Lighthouse" (1999) and the Netherlands had two teen slashers, "School's Out" (1999) and "The Pool" (2001). Bollywood produced the first musical-slasher hybrid with "Kucch To Hai" (2003), as well as the more straightforward "" (2003).


title: Slasher film

text: "Scream 2" marked a high-point for interest in the 1990s slasher film. "Urban Legend" (1998) was a modest hit, selling 8 million tickets, though slasher sales were already starting to drop. The sequels "" (1998), "Bride of Chucky" (1998) and "I Still Know What You Did Last Summer" (1998) were each box office successes, again marketing on the appeal their casts, which included Adam Arkin, Jack Black, LL Cool J, Jamie Lee Curtis, Joseph Gordon-Levitt, Josh Hartnett, Katherine Heigl, Brandy Norwood, Jodi Lynn O'Keefe, Mekhi Phifer, John Ritter, Jennifer Tilly, and Michelle Williams. Low-budget slasher films "The Clown at Midnight" (1998) and "Cherry Falls" (2000) had trouble competing with big-budget horror films that could afford then-bankable actors.


title: Slasher film

text: "Scream 3" (2000), the first entry in the "Scream" series not written by Kevin Williamson, was another huge success with 16.5 million tickets sold, though poor word-of-mouth prevented it from reaching the heights of its predecessors. "" (2000) sold a meager 4 million tickets, less than half of what its predecessor had sold just two years earlier. Both the "I Know What You Did Last Summer" and "Urban Legend" sequels were relegated to the direct-to-video market. The genre continued to fall apart with box office bombs "Valentine" (2001) and "Jason X" (2002), as well as the critically maligned "" (2002), a sequel that sold less than half its predecessor's tickets. New Line Cinema's highly anticipated "Freddy vs. Jason" (2003), in development since 1986, took note from "Scream", and mixed nostalgia with recognizable actors. It sold a massive 14 million tickets at the domestic box office, acting as a symbolic love-letter to slasher films of the Golden Age.


title: Slasher film

text: Films like "Final Destination" (2000), "Jeepers Creepers" (2001) and "American Psycho" (2000) added slasher film values in mainstream movies, but they deviated from the standard formula set forth by movies such as "Halloween" (1978), "A Nightmare on Elm Street" (1984) and "Scream" (1996). The filmmakers behind "Make a Wish" (2002) and "HellBent" (2004) diversified their stories to appeal to their gay and lesbian audiences. African American filmmakers with largely black casts took stabs at the genre in "Killjoy" (2000), "Holla If I Kill You" (2003), "Holla" (2006), and "Somebody Help Me" (2007).


title: Slasher film

text: With 2.5 million tickets sold on a low-budget, "Wrong Turn" (2003) launched a series of straight-to-video sequels. Filmmakers around the world tested the levels of on-screen violence an audience would accept. Musician-filmmaker Rob Zombie strove to bring the horror genre away from pop-culture and back to its exploitative roots in "House of 1000 Corpses" (2003) and "The Devil's Rejects" (2005). New French Extremity violence was influential in "High Tension" (2003), "Them" (2006), "Inside" (2007), "Frontier(s)" (2007) and "Martyrs" (2008), which became worldwide hits. Other European slasher films of the time included Austria's "Dead in 3 Days" (2006), Norway's "Cold Prey" (2006) and its 2008 sequel, as well as a number of British thrillers: "Long Time Dead" (2002), "Creep" (2004), "Severance" (2006), "Wilderness" (2008), "ThanksKilling" (2008), "The Children" (2008), "Eden Lake" (2008) "The Gingerdead Man" (2005), and "Tormented" (2009). In Asia, Taiwan released "Invitation Only" (2009), "Scared" (2005), and "Slice" (2009), while South Korea's released "Bloody Reunion" (2006) and "Someone Behind You" (2007) another extremely violent psychological supernatural slasher thriller based on a 2005 comic book "Two Will Come" and deals with the issue of family killings.


title: Slasher film

text: Low-budget North American slasher films received limited theatrical releases before the DVD releases (which had replaced the obsolete VHS format). "" (2006), "" (2008), "All the Boys Love Mandy Lane" (2006), "Dark Ride" (2006), "Hatchet" (2006), "Simon Says" (2006), "The Tripper" (2006), "See No Evil" (2006), and "Gutterballs" (2008) each reference early 1980s slasher films, though they were sidelined to limited distribution in a market crowded by splatter films in the wake of "Saw" (2004) and its sequels. Wes Craven, one of the biggest names in horror for over three decades, directed box office disappointments "My Soul to Take" (2011) and "Scream 4" (2011), which sold only 1.8 million and 4.7 million tickets, respectively. "The Strangers" (2008) and "You're Next" (2011) were applauded for their craftsmanship and post-9/11 twist on the home invasion genre, though neither film generated much interest beyond horror fans. 1980s homages "Tucker & Dale vs. Evil" (2010) and "The Final Girls" (2015) add thematic and emotional subtexts (i.e. stereotyping and grief), bringing praise for effectively mixing horror with heart. Meta-horror sleeper-hit "The Cabin in the Woods" (2012) was a financial and critical success that shook preconceived notions, and twisted them unexpected ways that marked a conscious-turning point for the whole horror genre, not just slasher films: audiences wanted surprising and original thrillers that were not strict throwbacks. These small but noticeable changes would come to affect the genre in the coming decade.


title: Slasher film

text: As 1990s "Scream"-inspired slasher films dwindled in popularity, the remake of "The Texas Chainsaw Massacre" (2003) became a sleeper hit by playing on public's familiarity of the 1974 original but promising updated thrills and suspense. Like Gus Van Sant's "Psycho" (1998), "The Texas Chainsaw Massacre" dilute the original film's controversial aspects for maximum commercial appeal. "The" "Texas Chainsaw Massacre" remake sold over 13.5 million tickets in North America and was followed by "" (2006), which sold a respectable 6-million tickets, though it was still struck by diminishing returns.


title: Slasher film

text: Riding on the success of the 21st Century's "Chainsaw Massacre" remake was "House of Wax" (2005), "Black Christmas" (2006), "April Fool's Day" (2008), "Train" (2008). Remakes of "The Fog" (2005), "When a Stranger Calls" (2006) and "Prom Night" (2008) were watered down, and released with PG-13 ratings to pull in the largest teenage audience possible, though only "Prom Night" sold more tickets than its original counterpart. Rob Zombie's "Halloween" (2007) took the simplicity of the original 1978 film but added an extreme vision that, according to critics, replaced everything that made the first film a success. Despite these criticisms, Zombie's "Halloween" sold nearly 8.5 million tickets, but its negative reception hurt its violent sequel "Halloween II" (2009), which could not sell 4.5 million tickets just two years after its predecessor. Extreme violence in the "Halloween" or "The Texas Chainsaw Massacre" remakes hit its peak with "The Hills Have Eyes" (2006) and its less-well received sequel, "The Hills Have Eyes 2" (2007).


title: Slasher film

text: The remake-era peaked in 2009 under releases of "My Bloody Valentine", "Friday the 13th", "The Last House on the Left", "Sorority Row", "The Stepfather" and "Halloween II". Of those, "Friday the 13th" was most successful selling 8.7 million tickets and "Sorority Row" was least successful with under 1.6 million tickets sold. The following year "A Nightmare on Elm Street remake" , like the "Friday the 13th" remake, had a large opening weekend but quickly fell off the box office charts after. Straight-to-video remakes "Mother's Day" (2010), "Silent Night" (2012) and "" (2013) were met with little reception or praise. "Curse of Chucky" (2013), a sequel (with elements of a reboot) of the "Child's Play" series and the first entry not released in theaters, was well-received and given a sequel of its own in 2017. The reboot "Texas Chainsaw 3D" (2013) acts as a sequel to the 1974 original film, but lackluster box office profits led to its prequel "Leatherface" (2017) to a direct-to-download release ("Leatherface" was filmed in 2015 but shelved for two years).


title: Slasher film

text: A decline in theatrical profits encouraged film producers to creatively translate the horror film genre to a television audience. The success of FX's "American Horror Story" and AMC's "The Walking Dead" green-lit a number of networks to develop horror series, several structured or based on slasher films. A&E's "Bates Motel" and former MTV and now, VH1's "Scream" offered creative deaths and cathartic suspense, while Freeform's "Pretty Little Liars" and The CW's "Riverdale" took more restrained approaches to the young adult demographic. Netflix's "Slasher" and Fox's "Scream Queens" are/were intended to be anthologies with new settings and mysteries every season. A TV remake of "The Bad Seed" aired on Lifetime in fall 2018. In June 2018 "Child's Play" creator Don Mancini tweeted that he is shopping a TV series with Brad Dourif as Chucky. The series, simply titled "Chucky" began airing on the Sci-Fi network in October 2021. In 2022, writer Ryan J. Brown debuted his comedy-horror series "Wreck" on BBC Three which took inspiration from the slasher and horror fiction and was advertised as a British interpretation of the genre.


title: Slasher film

text: "It Follows" (2014) was a critical success, mixing slasher film style with demonic fantasy and metaphorical subtext. "The Guest" (2014) and "Don't Breathe" (2016) twisted conventional tropes into unexpected takes on the horror genre. "Bodom" (2016) is inspired but not based on a real 1960s murder case attempt trying to reconstruct events by potential victims.


title: Slasher film

text: Blumhouse Productions, founded by Jason Blum on his successful "Paranormal Activity" and "Insidious" series, released slasher films "The Purge" (2013), "Happy Death Day" (2017) and "Truth or Dare" (2018). Three sequels and a television series followed "The Purge", while "Happy Death Day 2U" found modest success in February 2019. Blumhouse released meta-sequels "The Town That Dreaded Sundown" (2014) and "Halloween" (2018), which retconned their predecessors to begin a new continuity. "Halloween", in particular, was a huge success for Blumhouse and Universal Pictures. Released 40 years after the original, and reuniting star Jamie Lee Curtis with producer John Carpenter, the film opened to record-breaking numbers: The largest debut for Blumhouse, the largest debut for a slasher film, the largest debut of a female-led horror film and the largest debut for a film starring a woman over 55-years-old. Two back-to-back sequels are in the works, "Halloween Kills" and "Halloween Ends", due to be released in 2021 and 2022, respectively.


title: Slasher film

text: In October 2018 and after "Halloween"'s massive box-office and strong critical reviews, Roy Lee’s Vertigo Entertainment and LeBron James’ SpringHill Entertainment acquired the rights to a thirteenth "Friday the 13th" film. On June 19, 2019, the co-producers of "It" released "Child's Play", a reimagining that turns Chucky into an out-of-control artificially intelligent toy. On September 13, 2019, the film "Haunt" was released by Momentum Pictures. Blumhouse and Universal Pictures re-teamed to release a second-remake of "Black Christmas" on December 13, 2019, which was poorly received and bombed at the box office. Christopher Landon's slasher comedy "Freaky" which released on November 13, 2020, was produced by Blumhouse with distribution rights held by Universal Pictures.


title: Slasher film

text: Jordan Peele produced "Candyman" for Universal Pictures and MGM. The film's release was delayed to August 27, 2021, due to the ongoing COVID-19 pandemic.


title: Slasher film

text: James Wan and Shawn Levy partnered as producers with Netflix through their production companies, 21 Laps Entertainment and Atomic Monster Productions to create the slasher film "There's Someone Inside Your House". It was directed by Patrick Brice from a screenplay by Henry Gayden based on the 2017 eponymous novel by Stephanie Perkins. The film was released on October 6, 2021.


title: Slasher film

text: A fifth film in the popular slasher series "Scream" was announced to be in development. Filming began on September 22, 2020. The film was released on January 14, 2022.


title: Rutabaga

text: Rutabaga (; North American English) or swede (British English and some Commonwealth English) is a root vegetable, a form of Brassica napus (which also includes rapeseed). Other names include Swedish turnip, neep (Scots), and turnip (Scottish and Canadian English, Irish English and Manx English). However, elsewhere the name "turnip" usually refers to the related white turnip. The species "Brassica napus" originated as a hybrid between the cabbage ("Brassica oleracea") and the turnip ("Brassica rapa"). Rutabaga roots are eaten as human food in a variety of ways, and the leaves can be eaten as a leaf vegetable. The roots and tops are also used for livestock, either fed directly in the winter or foraged in the field during the other seasons. Scotland, Northern and Western England, Wales, the Isle of Man and Ireland had a tradition of carving the roots into lanterns at Halloween.


title: Rutabaga

text: Rutabaga has many national and regional names. "Rutabaga" is the common North American term for the plant. This comes from the Swedish dialectal word "rotabagge", from "rot" (root) + "bagge" (lump, bunch). In the U.S., the plant is also known as "Swedish turnip" or "yellow turnip".


title: Rutabaga

text: The term "swede" (from "Swedish turnip") is used in many Commonwealth Nations, including much of England, Australia, and New Zealand. The name "turnip" is also used in parts of Northern and Midland England, the West Country (particularly Cornwall), Ireland, the Isle of Man, and Canada. In Wales, according to region, it is variously known as , , or in Welsh, and as "swede" or "turnip" in English.


title: Rutabaga

text: In Scotland it is known as "turnip", "tumshie" (also used as a pejorative term for foolish or stupid people) or "neep" (from Old English "næp", Latin "napus"). Some areas of south-east Scotland, such as Berwickshire and Roxburghshire, still use the term "baigie", possibly a derivative of the Swedish dialectal word "rotabagge". The term "turnip" is also used for the white turnip ("Brassica rapa" ssp "rapa").


title: Rutabaga

text: Some will also refer to both swede and (white) turnip as just "turnip" (this word is also derived from "næp"). In north-east England, turnips and swedes are colloquially called "snadgers", "snaggers" (archaic) or "narkies". Rutabaga is also known as "moot" in the Isle of Man and the Manx language word for turnip is "napin".


title: Rutabaga

text: Its common name in Sweden is ' (literally "cabbage/kale root"). Similarly, in Denmark it is known as ' and ', while in Norway it is known as ' or ' and in Estonia as '. In Dutch it is called similarly "koolraap". In Denmark, Norway and the Netherlands, it is sometimes confused with kohlrabi. The Finnish term is '. The Romanian term is '. Rutabaga is known by many different regional names in German, of which ' and ' are the most widespread and most commonly used in lists of ingredients; the former is typically used in Austria to mean kohlrabi.


title: Rutabaga

text: The first known printed reference to the rutabaga comes from the Swiss botanist Gaspard Bauhin in 1620, where he notes that it was growing wild in Sweden. It is often considered to have originated in Scandinavia, Finland or Russia. According to the Natural Resources Institute of Finland (Luke), rutabaga or lanttu was most likely bred on more than one occasion in Northern Europe, around the 16th century. Studies by former MTT (now Luke), has shown lanttu was developed independently in both Finland and Sweden, from turnip and cabbage in connection with seed cultivation. There are contradictory accounts of how rutabaga arrived in England. Some sources say it arrived in England by way of Germany, while other accounts support Swedish origins. According to John Sinclair the root vegetable arrived in England from Germany around 1750. Rutabaga arrived in Scotland by way of Sweden around 1781.


title: Rutabaga

text: An article on the topic in "The Gardeners' Chronicle" suggests that the rutabaga was then introduced more widely to England in 1790. Introduction to North America came in the early 19th century with reports of rutabaga crops in Illinois as early as 1817. In 1835 a rutabaga fodder crop was recommended to New York farmers in the Genesee River valley.


title: Rutabaga

text: Rutabaga was once considered a food of last resort in both Germany and France due to its association with food shortages in World War I and World War II. Boiled stew with rutabaga and water as the only ingredients (Steckrübeneintopf) was a typical food in Germany during the famines and food shortages of World War I caused by the Allied blockade (the "Steckrübenwinter" or Turnip Winter of 1916–17) and between 1945 and 1949. As a result, many older Germans had unhappy memories of this food.


title: Rutabaga

text: Rutabaga has a complex taxonomic history. The earliest account comes from the Swiss botanist Gaspard Bauhin, who wrote about it in his 1620 "Prodromus". "Brassica napobrassica" was first validly published by Carl Linnaeus in his 1753 work "Species Plantarum" as a variety of "B. oleracea": "B. oleracea" var. "napobrassica". It has since been moved to other taxa as a variety, subspecies, or elevated to species rank. In 1768, a Scottish botanist elevated Linnaeus' variety to species rank as "Brassica napobrassica" in "The Gardeners Dictionary".


title: Rutabaga

text: Rutabaga has a chromosome number of 2"n" = 38. It originated from a cross between turnip ("Brassica rapa") and "Brassica oleracea". The resulting cross then doubled its chromosomes, becoming an allopolyploid. This relationship was first published by Woo Jang-choon in 1935 and is known as the Triangle of U.


title: Rutabaga

text: In the Netherlands, rutabaga is traditionally served boiled and mashed. Adding mashed potatoes (and, in some recipes, similarly mashed vegetables or fruits) makes stamppot (English: "mash pot"), a dish often served alongside smoked sausage.


title: Rutabaga

text: During the difficult days of World War II, rutabaga and rutabaga juice were an important part of the local diet, and were consumed en masse.


title: Rutabaga

text: In Sweden and Norway, rutabaga is cooked with potato and sometimes carrot, and mashed with butter and either stock or, occasionally, milk or cream, to create a puree called (Swedish, literally: root mash) or (Norwegian). Onion is occasionally added. In Norway, is an obligatory accompaniment to many festive dishes, including , , and salted herring. In Sweden, is often eaten together with cured and boiled ham hock, accompanied by mustard. This classic Swedish dish is called .


title: Rutabaga

text: Finns eat and cook rutabaga in a variety of ways. Rutabaga is the major ingredient in the popular Christmas dish "lanttulaatikko" (rutabaga casserole), one of the three main casseroles served during the Finnish Christmas, alongside the potato, and the carrot casseroles.


title: Rutabaga

text: Uncooked and thinly julienned rutabaga is often served as a side dish salad in school and work place lunches. Raisins or canned pineapple in light syrup are often added to the rutabaga salad. Sometimes, thinly sliced raw carrots are mixed in with rutabaga.


title: Rutabaga

text: Finns use rutabaga in most dishes that call for a root vegetable. Many Finnish soup bases consist of potatoes, carrots and rutabagas.


title: Rutabaga

text: Finnish cuisine also roasts, bakes, boils and grills rutabagas. Oven baked root vegetables is yet another home cooking classic in Finland: rutabaga, carrots, beetroots and potatoes are roasted in the oven with salt and oil. Karjalanpaisti (Karelian hot pot) is a popular slow cooking stew with root vegetables and meat cooked for a long time in a Dutch oven.


title: Rutabaga

text: Finnish supermarkets sell alternative potato chips, made out of root vegetables, such as rutabagas, beetroots and carrots.


title: Rutabaga

text: Rutabagas are also used as an ingredient in Lanttukukko (Rutabaga-kukko, a traditional Savonian and Karelian dish).


title: Rutabaga

text: In England, swede is boiled together with carrots and served either mashed or pureed with butter and ground pepper. The flavored cooking water is often retained for soup, or as an addition to gravy. Swede is an essential vegetable component of the traditional Welsh lamb broth called cawl and Irish stew as eaten in England. Swede is also a component of the popular condiment Branston Pickle. The swede is also one of the four traditional ingredients of the pasty originating in Cornwall.


title: Rutabaga

text: In Scotland, separately boiled and mashed, rutabagas ("neeps") and potatoes are served as "neeps and tatties" ("tatties" being the Scots word for potatoes), in a traditional Burns supper, together with the main course of haggis (the Scottish national dish). Neeps mashed with carrots or potatoes is called clapshot. Roughly equal quantities of neeps and tatties are boiled together in salted water and mashed with butter. Seasoning can be augmented with black pepper. Onions are never used. Regionally, neeps are a common ingredient in soups and stews.


title: Rutabaga

text: In Wales, a mash produced using just potato and rutabaga is known as in the North-East of the country, as on the Llyn peninsula and as in other parts.


title: Rutabaga

text: In Canada they are considered winter vegetables, as along with similar vegetables they are able to be kept in a cold area or cellar for several months. They are primarily used as a side dish. They are also used as filler in foods such as mincemeat and Christmas cake.


title: Rutabaga

text: In New Zealand they are more commonly available in winter but can be easily purchased for much of the year. It is thought they best grow in Southland, where the winters are colder. They are usually served mashed with butter but are often added to other dishes like casseroles or bakes.


title: Rutabaga

text: In the US, rutabagas are not widely eaten, but may be found as part of stews or casseroles, served mashed with carrots, or baked in a pasty. They are frequently found in the New England boiled dinner.


title: Rutabaga

text: Rutabaga and other cyanoglucoside-containing foods (including cassava, maize (corn), bamboo shoots, sweet potatoes, and lima beans) release cyanide, which is subsequently detoxified into thiocyanate. Thiocyanate inhibits thyroid iodide transport and, at high doses, competes with iodide in the organification process within thyroid tissue. Goitres may develop when there is a dietary imbalance of thiocyanate-containing food in excess of iodine consumption, and it is possible for these compounds to contribute to hypothyroidism. Yet, there have been no reports of ill effects in humans from the consumption of glucosinolates from normal amounts of "Brassica" vegetables. Glucosinolate content in "Brassica" vegetables is around one percent of dry matter. These compounds also cause the bitter taste of rutabaga.


title: Rutabaga

text: As with watercress, mustard greens, turnip, broccoli and horseradish, human perception of bitterness in rutabaga is governed by a gene affecting the TAS2R bitter receptor, which detects the glucosinolates in rutabaga. Sensitive individuals with the genotype PAV/PAV (supertasters) find rutabaga twice as bitter as insensitive subjects (AVI/AVI). For the mixed type (PAV/AVI), the difference is not significant for rutabaga. As a result, sensitive individuals may find some rutabagas too bitter to eat.


title: Rutabaga

text: Other chemical compounds that contribute to flavor and odor include glucocheirolin, glucobrassicanapin, glucoberteroin, gluconapoleiferin, and glucoerysolin. Several phytoalexins that aid in defense against plant pathogens have also been isolated from rutabaga, including three novel phytoalexins that were reported in 2004.


title: Rutabaga

text: Rutabaga contains significant amounts of vitamin C: 100 g contains 25 mg, which is 30% of the daily recommended dose.


title: Rutabaga

text: The roots and tops of "swedes" came into use as a forage crop in the early nineteenth century, used as winter feed for livestock. They may be fed directly (chopped or from a hopper), or animals may be allowed to forage the plants directly in the field.


title: Rutabaga

text: People living in Northern England, West England, Ireland and Scotland have long carved turnips and often used them as lanterns to ward off harmful spirits. In the Middle Ages, rowdy bands of children roamed the streets in masks carrying carved turnips known in Scotland as "tumshie heads". In modern times, turnips are often carved to look as sinister and threatening as possible, and are put in the window or on the doorstep of a house at Halloween to ward off evil spirits.


title: Rutabaga

text: Since pumpkins became readily available in Europe in the 1980s, they have taken over this role to a large extent. In the Isle of Man, turnip lanterns are still carved at Hop-tu-Naa (Manx equivalent of Halloween), lit with a candle or electric torch, and carried from house to house by some children, with the accompanying Hop tu Naa song; hoping for money or treats of food. The smell of burning turnip is an evocative part of the event.


title: Rutabaga

text: A local farmers' market in the town of Ithaca, New York, organizes what it calls the "International Rutabaga Curling Championship" annually on the last day of the market season. The villages of Askov, Minnesota, and Cumberland, Wisconsin, both hold an annual "rutabaga festival" in August.


title: UBS

text: UBS Group AG is a multinational investment bank and financial services company founded and based in Switzerland. Co-headquartered in the cities of Zürich and Basel, it maintains a presence in all major financial centres as the largest Swiss banking institution and the largest private bank in the world. UBS client services are known for their strict bank–client confidentiality and culture of banking secrecy. Because of the bank's large positions in the Americas, EMEA, and Asia Pacific markets, the Financial Stability Board considers it a global systemically important bank.


title: UBS

text: Apart from private banking, UBS provides wealth management, asset management, and investment banking services for private, corporate, and institutional clients with international service. UBS manages the largest amount of private wealth in the world, counting approximately half of the world's billionaires among its clients. Despite its trimming of sell-side operations, UBS maintains a global investment bank and is considered a primary market maker. The bank also maintains numerous underground bank vaults, bunkers, and storage facilities for gold bars around the Swiss Alps and internationally. Partly due to its banking secrecy, it has been at the centre of numerous tax avoidance investigations undertaken by U.S., French, German, Israeli, and Belgian authorities. UBS operations in Switzerland and the United States were respectively ranked first and second on the 2018 Financial Secrecy Index.


title: UBS

text: , UBS is the 3rd largest bank in Europe with a market capitalization of $63 billion. It is one of the nine global "Bulge Bracket" banks. It has over CHF3.2 trillion in assets under management (AUM), approximately CHF 2.8 trillion of which are invested assets. In June 2017, its return on invested capital was 11.1%, followed by Goldman Sachs' 9.35%, and JPMorgan Chase's 9.456%. In late 2016, UBS established a blockchain technology research lab in London to advance its cyber security and encryption of client activities. Based on regional deal flow and political influence, UBS is considered one of the "biggest, most powerful financial institutions in the world". The company's capital strength, security protocols, and reputation for discretion have yielded a substantial market share in banking and a high level of brand loyalty. Alternatively, it receives routine criticism for facilitating tax noncompliance and off-shore financing. UBS is a primary dealer and Forex counterparty of the U.S. Federal Reserve.


title: UBS

text: UBS was founded in 1862 as the Bank in Winterthur. This development came with the formation of the series of modern Swiss "Grossbanken" (big banks) in the latter part of the 19th century. The name of the bank was derived from the town of Winterthur, which served as Switzerland's industrial hub in the 19th century. By 1854, six private bankers in Basel founded the Swiss Bank Corporation (SBC) to cater to the increasing credit needs of Swiss railroad and manufacturing companies. It formed a private banking syndicate that expanded, aided by Switzerland's international neutrality. In 1912, the Bank of Winterthur merged with Toggenburger Bank to form the Union Bank of Switzerland (UBS) and grew rapidly after the Banking Law of 1934 codified Swiss banking secrecy. Following decades of market competition between Union Bank of Switzerland and the Swiss Bank Corporation (SBC), the two merged in 1998 to create a single company known solely as "UBS". UBS does not stand for Union Bank of Switzerland. In fact, that was one of the more than 370 financial firms that have, since 1862, become part of today's UBS. During the 2008 financial crisis, UBS managed heavy losses with an asset relief recovery program. In 2011, the company was hit by the 2011 rogue trader scandal resulting in a US$2 billion trading loss. In 2012, the bank reoriented itself around wealth management advisory services and limited its sell side operations.


title: UBS

text: UBS is a joint-stock company ("Aktiengesellschaft") pursuant to Swiss laws. Its shares are listed at the SIX Swiss Exchange and the New York Stock Exchange (NYSE). As of December 2020, UBS is present in all major financial centres worldwide, having offices in 50 countries, with about 30% of its approx. 73,000 employees working in the Americas, 30% in Switzerland, 19% in Europe (excluding Switzerland), the Middle East and Africa and 21% in the Asia Pacific region. The bank has its major presence in the United States. Its American headquarters for investment banking are located in New York City, for private wealth management advisory in Weehawken, New Jersey. They have sales & trading and private wealth management offices in Stamford, Connecticut.


title: UBS

text: The company's global business groups are global wealth management, investment bank, asset management and personal & corporate banking. UBS is the leading provider of retail banking and commercial banking services in Switzerland, as established already in 2009. Overall invested assets are $3.101 billion, shareholders' equity is $52.928 billion and market capitalization is $45.907 billion by the end of 2018. In November 2014, the shares in UBS Group AG were listed and started trading as a new holding company at the NYSE and SIX Swiss Exchange. Upon application and with effect as of 14 January 2015, the shares of UBS AG, the subsidiary of the UBS Group AG, were delisted from the NYSE. As of September 2019, the largest institutional shareholders are:


title: UBS

text: Starting on 9 June 2003, all UBS business groups, including UBS Paine Webber and UBS Warburg, were rebranded under the UBS moniker following company's start of operations as a unified global entity.


title: UBS

text: UBS's global wealth management advisory division offers high-net-worth individuals around the world a range of advisory and investment products and services. As of the end of 2016, UBS Wealth Management's invested assets totalled CHF 977billion. The whole companies assets under management (AUM) amounted to US$1,737.5 billion in 2015, representing a 1% decrease in AUM compared to the equivalent data of 2014. As of 2018, UBS manages the largest amount of private wealth in the world, counting approximately half of the world's billionaires among its clients. More than 60% of total invested assets in UBS Wealth Management belong to individuals with a net worth of CHF 10 million or more. Of the remaining 40% of total invested assets, 30% of the total belong to individuals with net worth between CHF 1 million and CHF 10 million and the last 10% of total assets belong to individuals with a net worth of less than CHF 1 million. UBS offers brokerage services and products as well as asset management and other investment advisory and portfolio management products and services. Additionally, UBS provides a broad range of securities and savings products that are supported by the firm's underwriting and research activities as well as clients' orders management and execution and also clearing services for transactions originated by individual investors. The business is further divided geographically with separate businesses focused on the U.S. and other international markets. Two thirds of the total invested assets come from Europe and Switzerland, with the final third coming mainly from the Asia-Pacific region.


title: UBS

text: With its headquarters in Switzerland, UBS Wealth Management is present in more than 40 countries with approximately 190 offices (100 of which are in Switzerland). As of the end of 2018, around 23,600 people worldwide were employed by Global Wealth Management. In Switzerland, UBS Swiss Bank provides a complete set of retail banking services that includes chequing, savings, credit cards, and mortgage products for individuals. They offer cash management and commercial banking services for small businesses and corporate clients as well.


title: UBS

text: UBS global wealth management advisory operations in the Americas consists of U.S. and Canadian wealth management businesses, as well as international business booked in the U.S. UBS Wealth Management in the U.S. is an outgrowth of the former Paine Webber brokerage business. The business was initially renamed UBS Paine Webber in March 2001 after it was acquired by UBS. The division offers wealth management advice for ultra-high net worth and high net worth clients. UBS was named "Best Bank for Wealth Management in North America" at the Euromoney Awards for Excellence 2017.


title: UBS

text: UBS's main competitors in this division are Bank of America, Credit Suisse, Morgan Stanley, JP Morgan Chase, Wells Fargo and Charles Schwab.


title: UBS

text: UBS's Personal & Corporate Banking division delivers financial products and services to retail, corporate and institutional clients in Switzerland. It also provides stable and substantial profits for the Group and revenue opportunities for businesses within the bank. UBS maintains a leading position in the retail and corporate loan market in Switzerland; in fact, it serves one in three pension funds, more than 85% of the 1,000 largest Swiss corporations and 85% of banks that resides within the nation. In 2015, 2017 and 2018, the international financial magazine "Euromoney" named UBS "Best Domestic Cash Manager Switzerland". As of 31 December 2018, its lending portfolio reached US$131 billion.


title: UBS

text: The products that this UBS division offers range from cash accounts, payments, savings and retirement plans to investment fund products, residential mortgages and advisory services. This business division constitutes a central building block of UBS's universal bank delivery model in Switzerland and it supports other divisions, such as Investment Bank, by referring clients to them and by assisting them to build their wealth to a level at which they can be transferred to UBS Wealth Management. The retail and corporate distribution network comprises not only 279 branches in Switzerland, but 1,250 teller machines and self-service terminals, as well as digital banking services, serving 2.5 million personal banking clients.


title: UBS

text: UBS Asset Management offers equity, fixed income, currency, hedge fund, global real estate, infrastructure and private equity investment capabilities that can also be combined in multi-asset strategies. The 1998 UBS-SBC merger and subsequent restructuring resulted in the combination of three major asset management operations: UBS Asset Management, Phillips & Drew (owned by Union Bank of Switzerland), and Brinson Partners (owned by SBC). The investment teams were merged in 2000 and in 2002 the brands were consolidated to become "UBS Global Asset Management".


title: UBS

text: At the end of December 2018, UBS Asset Management was responsible for US$781 billion of invested assets and the assets under administration were US$413 billion.


title: UBS

text: In February 2017, UBS Group AG and the Northern Trust Corporation, an American international financial services company, announced an agreement for the acquisition of UBS Asset Management's fund administration servicing units in Luxembourg and Switzerland. This acquisition will facilitate the expansion of the Northern Trust Corporation into these two countries, turning the American company into the major fund administrator in the local markets and into one of the ten global leaders in the sector. At the end of the transaction, completed in October 2017, the American company will administrate a total of CHF 420 billion in assets. UBS Asset Management will continue anyway to offer Management Company, White Labelling and Representative Services to its clients. Ulrich Körner, president of the UBS Asset Management, affirms that the continuous transformation of their platform is due to a major efficiency, effectiveness and geographical dislocation of the services offered by the bank.


title: UBS

text: UBS's main competitors in this division are BlackRock, Vanguard Group, State Street Global Advisers (SSGA), Fidelity Investments and Allianz Asset Management (AAM).


title: UBS

text: UBS Investment Bank provides services covering securities, other financial products, and research in equities, rates, credit, foreign exchange, precious metals and derivatives. As of the end of December 2018, the personnel employed at UBS Investment Bank totalled 5,205, present in 33 countries (with principal offices in Chicago, Frankfurt, Hong Kong, London, New York, Shanghai, Singapore, Tokyo and Zurich). This business division also advises and provides access to capital markets for corporate and institutional clients, governments, financial intermediaries, alternative asset managers, and private investors. UBS Investment Bank was formerly known as UBS Warburg and as Warburg Dillon Read, before the merger of the Union Bank of Switzerland and the Swiss Bank Corporation (SBC). Within the UBS Investment Bank division, the Investment Banking Department (IBD) provides a range of advisory and underwriting services including mergers and acquisitions, restructuring, equity offerings, investment grade and high yield debt offerings, leveraged finance and leveraged loan structuring, and the private placement of equity, debt, and derivatives.


title: UBS

text: The Sales & Trading division comprises equities (brokering, dealing, market making and engaging in proprietary trading in equities, equity-related products, equity derivatives, and structured products) and FX, Rates and Credit (FRC) (brokering, dealing, market making and engaging in proprietary trading in interest rate products, credit products, mortgage-backed securities, leveraged loans, investment grade and high-yield debt, currencies, structured products, and derivative products). Following an expansion in 2002, the trading floor covers with arched ceilings. Over US$1 trillion in assets are traded here every trading day. In June 2011, it was announced that UBS was considering moving its North American headquarters back to New York City, and that the bank was looking for office spaces in Midtown and in the rebuilt World Trade Center.


title: UBS

text: UBS's main competitors in this division are fellow members of the Bulge Bracket, particularly Goldman Sachs, JPMorgan Chase, and Merrill Lynch.


title: UBS

text: The American division also offers its own credit card not sponsored by another bank unlike many of its competitors.


title: UBS

text: On a global scale, UBS competes with the largest global investment banks, particularly within the Bulge Bracket, and is regularly compared against its fellow Swiss banking giant, Credit Suisse. According to a 2018 study published by Coalition Research Institute, UBS was among the top 10 of the world's investment banks.


title: UBS

text: The official founding date of the bank is April 1862, the year when its nucleus Bank in Winterthur was founded. Although the merged company's new name was originally supposed to be the "United Bank of Switzerland," the officials opted to call it simply "UBS" because of a name clash with the separate Swiss company "United Bank Switzerland" – a part of the United Bank Limited's Swiss subsidiary. Therefore, UBS is no longer an acronym but "is" the company's brand. Its logo of three keys, carried over from SBC, stands for the company's values of confidence, security, and discretion.


title: UBS

text: UBS, through Swiss Bank Corporation, traces its history to 1854 when six private banking firms in Basel, Switzerland pooled their resources to form the "Bankverein", a consortium that acted as an underwriting syndicate for its member banks. In 1871, the Bankverein coordinated with the German "Frankfurter Bankverein" to form the "Basler Bankverein", a joint-stock company replacing the original Bankverein consortium. After the new bank started with an initial commitment of CHF 30 million and CHF 6 million of share capital, it soon experienced growing pains when heavy losses in Germany caused it to suspend its dividend until 1879. Following the years 1885 and 1886, when the bank merged with the Zürcher Bankverein and acquired the Basler Depositenbank and the Schweizerische Unionbank, it changed its name to "Schweizerischer Bankverein". The English name of the bank was originally Swiss Bankverein, but was changed to Swiss Bank Corporation (SBC) in 1917.


title: UBS

text: SBC subsequently experienced a period of growth, which was only interrupted by the onset of World War I, in which the bank lost investments in a number of large industrial companies. By the end of 1918, the bank had recovered and surpassed CHF 1 billion in total assets and grew to 2,000 employees by 1920. The impact of the stock market crash of 1929 and the Great Depression was severe, particularly as the Swiss franc suffered major devaluation in 1936. The bank saw its assets fall from a 1929 peak of CHF 1.6 billion to its 1918 levels of CHF 1 billion by 1936.


title: UBS

text: In 1937, SBC adopted its three-keys logo, designed by Warja Honegger-Lavater, symbolizing confidence, security, and discretion, which remains an integral part in the current-day logo of UBS. On the eve of World War II in 1939, SBC, like other Swiss banks, was the recipient of large influxes of foreign funds for safekeeping. Just prior to the outbreak of the war, SBC made the timely decision to open an office in New York City. The office, located in the Equitable Building, was able to begin operations a few weeks after the outbreak of the war and was intended as a safe place to store assets in the case of an invasion. During the war, the banks' traditional business fell off and the Swiss government became their largest client.


title: UBS

text: In 1945, SBC acquired the "Basler Handelsbank" (Commercial Bank of Basel), which was one of the largest banks in Switzerland, but became insolvent by the end of the war. SBC remained among the Swiss government's leading underwriters of debt in the post-war years. SBC, which had entered the 1950s with 31 branch offices in Switzerland and three abroad, more than doubled its assets from the end of the war to CHF 4 billion by the end of the 1950s and doubled assets again in the mid-1960s, exceeding CHF 10 billion by 1965. In 1961, SBC acquired "Banque Populaire Valaisanne", based in Sion, Switzerland, and the "Banque Populaire de Sierre". The bank opened a full branch office in Tokyo in 1970.


title: UBS

text: In 1992, SBC acquired O'Connor & Associates, a Chicago-based options trading firm and the largest market maker in the financial options exchanges in the U.S. O'Connor was combined with SBC's money market, capital market, and currency market activities to form a globally integrated capital markets and treasury operation. In 1994, SBC acquired Brinson Partners, an asset management firm focused on providing access for U.S. institutions to global markets, for US$750 million. Following the acquisition, founder Gary P. Brinson ran SBC's asset management business and later when SBC merged with UBS was named chief investment officer of UBS Asset Management. The acquisition of S.G. Warburg & Co., a leading British investment banking firm, in 1995 for the price of US$1.4 billion signified a major push into investment banking. S.G. Warburg & Co. had established a reputation as a daring merchant bank that grew to be one of the most respected investment banks in London. However, a Warburg expansion into the U.S. had turned out flawed and costly, and talks in 1994 with Morgan Stanley about a merger had collapsed. SBC merged the firm with its own existing investment banking unit to create SBC Warburg.


title: UBS

text: Two years later, in 1997, SBC paid US$600 million to acquire Dillon, Read & Co., a U.S. bulge bracket investment bank. Dillon, Read & Co., which traced its roots to the 1830s, was among the powerhouse firms on Wall Street in the 1920s and 1930s, and by the 1990s had a particularly strong mergers and acquisitions advisory group. Dillon Read had been in negotiations to sell itself to ING, which owned 25% of the firm already, but Dillon Read partners balked at ING's integration plans. After its acquisition by SBC, Dillon Read was merged with SBC-Warburg to create SBC-Warburg Dillon Read. Following SBC's later merger with Union Bank of Switzerland, the SBC part was dropped from the name; in 2000 when the new UBS got restructured the Dillon Read name was dropped, although it was brought back in 2005 as Dillon Read Capital Management, UBS's ill-fated hedge fund operations.


title: UBS

text: The Union Bank of Switzerland emerged in 1912 when the Bank in Winterthur fused with the Toggenburger Bank. The Bank in Winterthur, founded in 1862 with an initial share capital of CHF 5 million, focused on providing financing for industry and other companies, and had profited considerably from its close railroad connections and large warehousing facilities during the American Civil War when cotton prices rose dramatically. The Toggenburger Bank was founded in 1863 with an initial share capital of CHF 1.5 million, and specialized as a savings and mortgage bank for individual customers, maintaining a branch office network in eastern Switzerland. The new company was initially traded under the English name "Swiss Banking Association", but in 1921 it was changed to Union Bank of Switzerland (UBS) to mirror its French name, "Union de Banques Suisses". In German, the bank was known as the "Schweizerische Bankgesellschaft" (SBG).


title: UBS

text: The combined bank had total assets of CHF 202 million and a total shareholders' equity of CHF 46 million. In 1917, UBS completed the construction of a new headquarters in Zurich on Bahnhofstrasse, considered to be the Wall Street of Switzerland. By 1923, offices were established throughout Switzerland. Although the bank suffered in the aftermath of World War I and the Great Depression, it was able to make several smaller acquisitions; in 1937 it established Intrag AG, an asset management business responsible for investment trusts, (i.e. mutual funds).


title: UBS

text: The activities of the Union Bank of Switzerland during World War II were not publicly known until decades after the war, when it was demonstrated that UBS likely took active roles in trading stolen gold, securities, and other assets during World War II. The issue of "unclaimed property" of Holocaust victims became a major issue for UBS in the mid-1990s, and a series of revelations in 1997 brought the issue to the forefront of national attention in 1996 and 1997. UBS confirmed that a large number of accounts had gone unclaimed as a result of the bank's policy of requiring death certificates from family members to claim the contents of the account. UBS's handling of these revelations were largely criticized and the bank received significant negative attention in the U.S. UBS came under significant pressure, particularly from American politicians, to compensate Holocaust survivors who were making claims against the bank.


title: UBS

text: Shortly after the end of World War II, Union Bank of Switzerland completed the acquisition of the "Eidgenössische Bank", a large Zürich-based bank that became insolvent. As a result of the merger, Union Bank of Switzerland exceeded CHF 1 billion in assets and moved its operations to Zürich. UBS opened branches and acquired a series of banks in Switzerland in the following years, growing from 31 offices in 1950 to 81 offices by the early 1960s. In 1960, Union Bank of Switzerland acquired an 80% stake in Argor SA, a Swiss precious metals refinery founded in 1951 in the canton of Ticino. UBS continues to issue gold bars via Argor-Heraeus which is famous for the unique kinebar holographic technology it uses to provide enhanced protection against bank gold bar counterfeiting. By 1962, Union Bank of Switzerland reached CHF 6.96 billion of assets, narrowly edging ahead of Swiss Bank Corporation to become the largest bank in Switzerland. The rapid growth was punctuated by the 1967 acquisition of Interhandel, which made UBS one of the strongest banks in Europe.


title: UBS

text: By the 1980s, Union Bank of Switzerland established a position as a leading European underwriter of Eurobonds. Following two major acquisitions in 1986 (Phillips & Drew and Deutsche Länderbank), UBS made its first purchase in the United States in 1991 with Chase Investors Management Corporation, the asset management business of Chase Manhattan Bank. At the time of the acquisition, the business managed in excess of US$30 billion in assets. The bank's investments had been in the conservative asset management and life insurance businesses; further, 60% of the bank's profits came from its even more conservative Swiss banking operations. In 1993, Credit Suisse outbid Union Bank of Switzerland for Switzerland's "Swiss Volksbank", the fifth largest bank in Switzerland which had run into financial difficulties in the early 1990s. The acquisition propelled Credit Suisse ahead of Union Bank of Switzerland as the largest bank in Switzerland for the first time. Prior to the merger with Swiss Bank Corporation, UBS purchased a group of smaller Swiss banks in 1994 including the Cantonal Bank of Appenzell-Ausserrhoden in 1996, and in 1997 Schröder, Münchmeyer, Hengst & Co. from Lloyds Bank was acquired to improve access to the German investment banking and private wealth management markets.


title: UBS

text: During the mid-1990s, Union Bank of Switzerland came under fire from dissident shareholders critical of its conservative management and lower return on equity. Martin Ebner, through his investment trust, BK Vision, became the largest shareholder in Union Bank of Switzerland and attempted to force a major restructuring of the bank's operations. Looking to take advantage of the situation, Credit Suisse approached Union Bank of Switzerland about a merger that would have created the second largest bank in the world in 1996. Union Bank of Switzerland's management and board unanimously rebuffed the proposed merger. Ebner, who supported the idea of a merger, led a shareholder revolt that resulted in the replacement of Union Bank of Switzerland's chairman, Robert Studer with Mathis Cabiallavetta, one of the key architects of the merger with Swiss Bank Corporation.


title: UBS

text: On 8 December 1997, Union Bank of Switzerland and Swiss Bank Corporation announced an all-stock merger. At the time of the merger, Union Bank of Switzerland and Swiss Bank Corporation were the second and third largest banks in Switzerland, respectively. Discussions between the two banks had begun several months earlier, less than a year after rebuffing Credit Suisse's merger overtures. The merger resulted in the creation of UBS AG, a new bank with total assets of more than US$590 billion, the largest of its kind. During the merger, UBS chairman Marcel Ospel originally wanted to call the company "United Bank of Switzerland", but settled on simply using "UBS" following the acquisition of American brokerage firm, Paine Webber.


title: UBS

text: Colloquially referred to as the "New UBS" to distinguish itself from the former Union Bank of Switzerland, the combined bank became the second largest in the world at the time, behind only the Bank of Tokyo-Mitsubishi. Additionally, the merger pulled together the banks' various asset management businesses to create the world's largest money manager, with approximately US$910 billion in assets under management. Union Bank of Switzerland's Mathis Cabiallavetta became chairman of the new bank while Swiss Bank's Marcel Ospel was named chief executive officer. Nearly 80% of the top management positions were filled by legacy Swiss Bank professionals. Prior to the merger, Swiss Bank Corporation was considered to be further along than Union Bank of Switzerland in developing its international investment banking business, particularly in the higher margin advisory businesses where Warburg Dillon Read was considered to be the more established platform. Union Bank of Switzerland had a stronger retail and commercial banking business in Switzerland, while both banks had strong asset management capabilities. After the merger was completed, it was speculated that a series of losses suffered by UBS on its equity derivative positions in late 1997 was a contributing factor in pushing UBS management to consummate the merger.


title: UBS

text: On 3 November 2000, UBS merged with Paine Webber, an American stock brokerage and asset management firm led by chairman and CEO Donald Marron. At the time of its merger with UBS, Paine Webber had emerged as the fourth largest private client firm in the United States with 385 offices employing 8,554 brokers. The acquisition pushed UBS to the top wealth and asset management firm in the world. Initially, the business was given the divisional name "UBS PaineWebber" but in 2003 the 123-year-old name Paine Webber disappeared when it was renamed "UBS Wealth Management USA". UBS took a CHF 1 billion write-down for the loss of goodwill associated with the retirement of the Paine Webber brand when it integrated its brands under the unified UBS name in 2003.


title: UBS

text: John P. Costas, a former bond trader and co-head of Fixed income at Credit Suisse First Boston and head of Fixed Income Trading at Union Bank of Switzerland in 1998, was appointed CEO of UBS's investment banking division, which originated in SBC's Warburg Dillon Read division and was renamed UBS Warburg in December 2001. In an attempt to break into the elite bulge bracket of investment banks, in which UBS then had little success while rival Credit Suisse was establishing itself as a major player on Wall Street with the acquisition of Donaldson, Lufkin & Jenrette in 2000, Costas shifted the growth strategy from acquiring entire firms to hiring individual investment bankers or teams of bankers from rival firms. Costas had followed a similar approach in building out the UBS fixed income business, hiring over 500 sales and trading personnel and increasing revenues from US$300 million in 1998 to over US$3 billion by 2001.


title: UBS

text: The arrival of former Drexel Burnham Lambert investment banker Ken Moelis marked a major coup for Costas. Moelis joined UBS from Donaldson Lufkin & Jenrette in 2001 shortly after its acquisition by Credit Suisse First Boston (although Huw Jenkins claimed he had hired Moelis to the UK Parliamentary Banking commission while under oath, which is patently false). In his six years at UBS, Moelis ultimately assumed the role of president of UBS Investment Bank and was credited, along with Costas, with the build-out of UBS's investment banking operation in the United States. Within weeks of joining, Moelis brought over a team of 70 bankers from Donaldson, Lufkin & Jenrette. Costas and Moelis hired more than 30 senior U.S. bankers from 2001 through 2004. It was estimated that UBS spent as much as US$600 million to US$700 million hiring top bankers in the U.S. during this three-year period. Among the bank's other major recruits during this period were Olivier Sarkozy, Ben Lorello, Blair Effron, and Jeff McDermott. By 2003, UBS had risen to fourth place from seventh in global investment banking fees, earning US$2.1 billion of the US$39 billion paid to investment banks that year, increasing 33%. Over the next four years, UBS consistently ranked in the top 4 in the global fee pool and established a track record of 20 consecutive quarters of rising profits.


title: UBS

text: In 2006, UBS set up a joint venture in China (see UBS Securities, China branch). However, by the end of 2006, UBS began to experience changing fortunes. In late 2005, Costas headed a new hedge fund unit within UBS known as Dillon Read Capital Management. His former position was taken over by Huw Jenkins, a long-time legacy UBS investment banker. In 2006, UBS bankers Blair Effron and Michael Martin announced their departures. In March 2007, Moelis announced that he was leaving the company, and shortly thereafter founded a new business, Moelis & Company. As he had when joining UBS, Moelis took a large team of senior UBS investment bankers. Moelis's departure was caused primarily by repeated conflict over the availability of capital from the bank's balance sheet to pursue large transactions, particularly leveraged buyouts. The bank's apparent conservatism would be turned on its head when large losses were reported in various mortgage securities rather than corporate loans that generated investment banking fees. After Moelis, other notable departures included investment banking co-head Jeff McDermott in early 2007 and, as the financial crisis set in, other high-profile bankers such as Oliver Sarkozy in early 2008 and Ben Lorello in 2009.


title: UBS

text: UBS was fined $100 million by the FED in 2004 for trading in dollars with Iran and other sanctioned countries.


title: UBS

text: At the beginning of 2007, UBS became the first Wall Street firm to announce a heavy loss in the subprime mortgage sector as the subprime mortgage crisis began to develop. In May 2007, UBS announced the closure of its Dillon Read Capital Management (DRCM) division. Although in 2006, DCRM had generated a profit for the bank of US$720 million, after UBS took over DRCM's positions in May 2007, losses grew from the US$124 million recorded by DRCM, ultimately to "16% of the US$19 billion in losses UBS recorded." The UBS investment bank continued to expand subprime risk in the second quarter of 2007 while most market participants were reducing risk, resulting in not only expanding DRCM losses but creating the 84% of the other losses experienced by the bank.


title: UBS

text: In response to the growing series of problems at UBS, and possibly his role in spearheading Costas' departure from the bank, Peter Wuffli unexpectedly stepped down as CEO of the firm during the second quarter of 2007. Wuffli would be joined by many of his fellow managers in the next year, most notably the bank's chairman Marcel Ospel. However, the bank's problems continued through the end of 2007, when the bank reported its first quarterly loss in over five years. As its losses jeopardized the bank's capital position, UBS quickly raised US$11.5 billion of capital in December 2007, US$9.7 billion of which came from the Government of Singapore Investment Corporation (GIC) and US$1.8 billion from an unnamed Middle Eastern investor.


title: UBS

text: After a significant expansion of fixed income risk during 2006 and 2007 under the leadership of Huw Jenkins, the UBS Investment Bank CEO, the bank's losses continued to mount in 2008 when UBS announced in April 2008 that it was writing down a further US$19 billion of investments in subprime and other mortgage assets.


title: UBS

text: By this point, UBS's total losses in the mortgage market were in excess of US$37 billion, the largest such losses of any of its peers. In response to its losses, UBS announced a CHF 15 billion rights offering to raise the additional funds need to shore up its depleted reserves of capital. UBS cut its dividend in order to protect its traditionally high Tier 1 capital ratio, seen by investors as a key to its credibility as the world's largest wealth management company. In October 2008, UBS announced that it had placed CHF 6 billion of new capital, through mandatory convertible notes, with Swiss Confederation. The Swiss National Bank and UBS made an agreement to transfer approximately US$60 billion of currently illiquid securities and various assets from UBS to a separate fund entity. In November 2008, UBS put US$6 billion of equity into the new "bad bank" entity, keeping only an option to benefit if the value of its assets were to recover. Heralded as a "neat" package by "The New York Times", the UBS structure guaranteed clarity for UBS investors by making an outright sale. UBS announced in February 2009 that it had lost nearly CHF 20 billion (US$17.2 billion) in 2008, the biggest single-year loss of any company in Swiss history. Since the beginning of the financial crisis in 2007, UBS has written down more than US$50 billion from subprime mortgage investments and cut more than 11,000 jobs.


title: UBS

text: By the spring of 2009, UBS announced another management restructuring and initiated a plan to return to profitability. Jerker Johansson, the head of the investment bank division, resigned in April 2009 and was replaced by Alex Wilmot-Sitwell and Carsten Kengeter. At the same time, UBS announced the planned cut of 8,700 jobs and had implemented a new compensation plan. Under the plan, no more than one-third of any cash bonus would be paid out in the year it is earned with the rest to be held in reserve and stock-based incentives that would vest after three years. In April 2009, UBS announced that it agreed to sell its Brazilian financial services business, UBS Pactual, for approximately US$2.5 billion to BTG Investments.


title: UBS

text: The Swiss government sold its CHF 6 billion stake in UBS in late 2008 at a large profit; Switzerland had purchased convertible notes in 2008 to help UBS clear its balance sheets of toxic assets. Taking advantage of improved conditions in the stock market in mid-2009, UBS placed US$3.5 billion of shares with a small number of large institutional investors. Oswald Grübel announced, "We are building a new UBS, one that performs to the highest standards and behaves with integrity and honesty; one that distinguishes itself not only through the clarity and reliability of the advice and services it provides but in how it manages and executes." Grübel reiterated plans to maintain an integrated business model of providing wealth management advisory, investment banking, and asset management services.


title: UBS

text: In August 2010, UBS launched a new advertising campaign featuring the slogan: "We will not rest" and signed a global sponsorship agreement with Formula 1. On 26 October 2010, UBS announced that its private bank recorded net new funds of CHF 900 million during the third quarter, compared to an outflow of CHF 5.5 billion in second quarter. UBS's third quarter net profit of US$1.65 billion beat analyst estimates, continuing a string of profitability. After the elimination of almost 5,000 jobs, UBS announced on 23 August 2011 that it was further cutting another 3,500 positions in order to "improve operating efficiency" and save CHF 1.5 to CHF 2 billion a year. 45 percent of the job cuts would come from the investment banking unit, which continued to post dismal figures since the 2008 financial crisis, while the rest would come from the wealth management and asset management divisions. The firm has seen profits fall due to the rise of the Swiss franc.


title: UBS

text: On 15 September 2011, UBS became aware of a massive loss, originally estimated at US$2 billion, allegedly due to unauthorized trading by Kweku Adoboli, a then 31-year-old Ghanaian trader on the Delta One desk of the firm's investment bank. Adoboli was arrested and later charged with fraud by abuse of position and false accounting dating as far back as 2008. UBS's actual losses were subsequently confirmed as US$2.3 billion, and according to the prosecutor in Adoboli's trial he "was a gamble or two from destroying Switzerland's largest bank for his own benefit." On 24 September 2011 UBS announced chief executive Oswald Grübel's resignation, and the appointment of Sergio Ermotti as his replacement on an interim basis.


title: UBS

text: On 30 October 2012, UBS announced that it was cutting 10,000 jobs worldwide in an effort to slim down its investment banking operations, of which 2,500 would be in Switzerland, followed by the United States and Great Britain. This 15-percent staff cut would make overall staff count come down from 63,745 to 54,000. (For comparison, the peak employment level in 2007 before the 2008 financial crisis was 83,500). UBS also announced that the investment bank would focus on its traditional strengths and exit much of its fixed income trading business that was not economically profitable. On 19 December 2012, UBS was fined $1.5 billion for its role in the Libor scandal over accusations that it tried to rig benchmark interest rates. In November 2014, regulators including the FCA and CFTC hit UBS with fines, along with other banks, for currency manipulation. On 6 January 2014, it was reported that UBS had become the largest private banker in the world, with $1.7 trillion in assets. In May 2015, media reports revealed UBS is planning to sell its Australian private banking division to some of its management after a review of underperforming businesses was conducted at the company.


title: UBS

text: In late 2016, the bank created the digital currency "Utility Settlement Coin" (USC) to accelerate inter-bank settlements and established a blockchain technology research laboratory in London. From 2012 to 2018, the investment bank, led by Andrea Orcel, initiated a major restructuring, firing over 10,000 employees and focusing on European underwriting business instead of traditional dealmaking. UBS announced in January 2018 that it does not trade or expose clients to cryptocurrencies as it believes they have little to no elasticity, and are speculatively valued. It partnered with technology company IBM to launch a blockchain trade finance platform called "Batavia" in early 2018.


title: UBS

text: In April 2021, UBS reported a $774 million loss from the collapse of US investment fund Archegos Capital Management.


title: UBS

text: In July 2021, during the COVID-19 pandemic, UBS announced it would continue to allow for flextime and remote work by many employees, noting that they did not impede productivity. The announcement distinguished the bank from its competitors, such as Morgan Stanley and Goldman Sachs, which pressured on employees to return to the office as COVID-19 lockdowns and measures eased.


title: UBS

text: In January 2022, UBS agreed to acquire Wealthfront for $1.4 billion. UBS expects to accelerate its growth in the US with the purchase, and will operate Wealthfront as a business within UBS Global Wealth Management. The acquisition was mutually terminated in September 2022 with both companies not providing a reason. UBS announced that it would instead invest in a $69.7million note convertible into Wealthfront shares, valuing the latter at its acquisition price.


title: UBS

text: In November 2022, Fang Xinghai, vice chairperson of the China Securities Regulatory Commission, made remarks by prerecorded video to the Global Financial Leaders' Investment Summit. In it, he warned investors to not read too much foreign news (international media) about China, and said that some international investors read "too much" of it.Later at the Summit, Colm Kelleher said, regarding global bankers, that "we're all very pro-China," and in reference to Fang's comments, said "We're not reading the American press, we actually buy the [China] story."


title: UBS

text: As it exists today, UBS represents a conglomeration of dozens of individual firms, many of which date back to the 19th century. Over the years, these firms merged to form the bank's three major predecessors, Union Bank of Switzerland, Swiss Bank Corporation, ICO Markets Exchange Clearing Limited and Paine Webber. The following is a visual illustration of the company's major mergers and acquisitions and historical predecessors, although this is not necessarily a comprehensive list:


title: UBS

text: As disclosed under the Swiss Stock exchange Act, the most significant shareholders of UBS are GIC Private Limited with 7.07%, BlackRock Inc with 4.98%, Norges Bank with 3.30%, MFS Investment Management with 3.05% and Capital Group Companies with 3.01% of total share capital. In 2008 during the subprime mortgage crisis, GIC Private Limited invested CHF 11 billion into UBS to help bail it out, thus becoming the largest single shareholder.


title: UBS

text: Additionally, the UBS Group AG disclosed shareholders registered in their share register with 3% or more of shares issued. As of 30 September 2017, these are Chase Nominees Ltd, DTC (Cede & Co.) and Nortrust Nominees Ltd with 10.32%, 6.63% and 4.04% of total share capital respectively.


title: UBS

text: UBS frequently cites Swiss culture—specifically its penchant for privacy, security and neutrality—as foundational to its company culture. Although banking secrecy started in the 1700s, Switzerland drafted a series of banking regulations and statutes the late 1800s and 1930s to protect and secure banks within its borders. The most prominent was the Federal Act on Banks and Savings Banks, known simply as the "Banking Law of 1934". The federal law prohibits and criminalizes the distribution and release of client information to third parties. The bill was passed by the Swiss Federal Assembly in order to combat the seizure of client assets and information for reasons debated by historians. UBS, then known as the Swiss Bank Corporation, received large influxes of capital from Europe for safe keeping during the war. More than two dozen Swiss banking statutes were drafted from 1934 to 2008 to strengthen banking secrecy at UBS Switzerland AG. In 2018, Switzerland, alongside major Swiss banks including UBS, was ranked first on the Financial Secrecy Index. UBS was the largest wealth manager in 23 of the top 25 countries on the 2018 Financial Secrecy Index.


title: UBS

text: While UBS maintains the strictest banking secrecy policies in Switzerland, its policies across Europe and especially the United States are comparable. Within the U.S., the bank is prohibited from disclosing client activities and information both internally and through regulation imposed by the Financial Industry Regulatory Authority (FINRA), Federal Reserve, Federal Deposit Insurance Corporation (FDIC), U.S. Treasury, Securities and Exchange Commission (SEC), and various U.S. state regulators. UBS employees are prohibited from discussing client activity or information publicly, sharing information across borders, retaining client information insecurely and required to maintain robust bank-client confidentiality agreements. In 2018, UBS operations within the U.S. were ranked second on the Financial Secrecy Index, following UBS Switzerland AG. Within the European Union (E.U.), UBS operations maintain similar banking secrecy policies to Switzerland in the following countries and crown dependencies: Jersey, Austria, Luxembourg, Liechtenstein, Monaco, and the Isle of Man. Substantial, albeit greatly reduced, banking secrecy provisions are afforded to UBS operations in France, Germany, Ireland, and the Netherlands.


title: UBS

text: UBS, along with other Swiss banks, maintains a variety of hidden assets and numbered bank accounts in an effort to preserve anonymity and confidentiality. Despite its name, hidden accounts are not truly hidden. The usage of these types of accounts (and assets) limits the knowledge of the account between the client and a restricted number of private bankers who retain record of who the account belongs to.


title: UBS

text: In January 1997, Christoph Meili, a night guard at the Union Bank of Switzerland (precursor of UBS) in Zürich, publicly announced that bank officials were destroying documents about orphaned assets, believed to be the credit balances of both Nazi German and Jewish clients attained during World War II. Soon after, Zurich authorities opened a judicial investigation against Meili for suspected violations of the Swiss laws on banking secrecy. After a US$2.56 billion lawsuit was filed against UBS and other Swiss banks on behalf of the Jewish victims of the Holocaust, a settlement was reached that totalled US$1.25 billion in August 1998.


title: UBS

text: The Swiss government has taken steps to curb the usage of hidden services by foreign account holders as they have been frequently used to facilitate the transfer of "black money". In May 2013, Switzerland announced that it would amend certain banking secrecy laws applicable to UBS Switzerland AG to allow the disclosure of hidden client accounts to various investigative authorities. However, the disclosure of such information is heavily regulated and only "occur exclusively within the scope of administrative assistance procedures based on a valid double taxation agreement."


title: UBS

text: UBS, along with other Swiss banks, owns and operates undisclosed or otherwise secretive bank vaults, storage facilities or underground bunkers for gold bars, diamonds, cash, or other valuable physical assets. The geographical location of these facilities are undisclosed to the public but are known to be present in the mountainous regions of the Swiss Alps. These facilities are not subject to the same banking regulations as banks in Switzerland and do not have to report holdings to regulatory agencies. According to the Swiss Armed Forces, UBS purchased four former military bunkers to convert into storage facilities throughout the 1980s and 1990s. Three of these bunkers are not accessible by road or foot and require aircraft transportation. The transfer of assets to these bunkers is selective as a multi-stage security clearance is required and is not available to all UBS clients. In special circumstances, UBS contracts smaller banks in Southern Switzerland to maintain company assets.


title: UBS

text: The largest disclosed Swiss bank vault is five floors () under the bank's Geneva headquarters. In July 2013, UBS established a gold storage facility and depository in Singapore for high net worth and ultra high net worth clients in their Hong Kong, China, and Malaysia markets who are willing to pay high fees and commissions for the highest level of secrecy and safety for their assets.


title: UBS

text: The strict banking secrecy policies and bank-client confidentiality agreements at UBS have frequently been used to avoid, evade or otherwise escape foreign direct taxation. UBS reached multilateral agreements with the U.S. Internal Revenue Service (IRS) and U.K. HM Revenue and Customs in 2009 and 2010, respectively. These agreements ensured a line of communication between the tax agencies and all registered Swiss banks. The most commonly used stipulation triggered by select UBS Switzerland AG clients regard the following statute: Swiss banks are only allowed to disclose client information if a client is legally charged with proof of deliberate financial fraud, not merely the non-reporting of assets to avoid taxation.


title: UBS

text: The banking privacy policies of UBS have led to numerous controversies and disagreements with foreign governments:


title: UBS

text: In December 2021, UBS was criminally convicted by an appeals court in France for “illegal banking activities”, money laundering and “aggravated tax fraud” and fined €1.8 billion. UBS has said it is appealing that decision.


title: UBS

text: In January 2010, UBS issued a new code of conduct and business ethics which all employees were encouraged to sign. The code addressed issues such as financial crime, competition, confidentiality, as well as human rights and environmental issues. The eight-page code also lays out potential sanctions against employees who violate it, including warnings, demotions, or dismissal. According to Kaspar Villiger, former chairman of the board, and Oswald J. Grübel, former Group CEO, the code is "an integral part of changing the way UBS conducts business".


title: UBS

text: In 2011, UBS expanded its global compliance database to include information on environmental and social issues provided by RepRisk, a global research firm specialized in environmental, social and corporate governance (e.g., ESG) risk analytics and metrics. This was done in an effort to mitigate environmental and social risks that could impact the bank's reputation or financial performance and to simultaneously help globally standardize and systematically implement the firm's due diligence processes. RepRisk data is used in the on-boarding process to screen potential new clients and sourcing partners, alongside periodic client reviews and, also, to evaluate the risks related to transactions in investment banking and institutional lending.


title: UBS

text: In 2018, UBS held 0.72% of shares in HikVision (surveillance cameras), a subsidiary of the Chinese military conglomerate CETC, sanctioned by the US Department of Commerce for participating to mass surveillance in the predominantly Muslim populated Chinese autonomous region of Xinjiang.


title: UBS

text: In October 2019, UBS joined UN's Global Investors for Sustainable Development Alliance (GISD). UBS has committed to raise US$5 billion of SDG-related impact investments by the end of 2021, which aim to create a measurable positive social or environmental impact.


title: UBS

text: UBS has been an early adopter regarding the use of blockchain technology in financial services. In April 2015, UBS opened an innovation lab at the Level39 technology accelerator space in London.


title: UBS

text: In August 2016, UBS announced that it will team up with BNY Mellon, Deutsche Bank, Banco Santander, brokerage company ICAP and the fintech company Clearmatics, to promote UBS's "Utility Settlement Coin" (USC). The USC is a blockchain-based digital currency that financial institutions could use to transact securities with each other, bypassing the traditional settlement processes which is ongoing.


title: UBS

text: In 2021, UBS buys 31% ICO Markets Exchange Clearing Limited, Digital Asset Exchange, Regulator Company in the European Digital Asset Market which financial institutions and private clients they will use to trade securities among themselves, bypassing the traditional ongoing settlement processes.


title: UBS

text: In 2018, UBS digitally cloned Daniel Kalt, one of its chief economists. Artificial intelligence expert FaceMe was hired to create an interactive avatar of Kalt that can meet with clients via television screen. The clients will be able to ask questions and receive answers, made possible by IBM's Watson AI technology.


title: UBS

text: In 2006, for the fourth consecutive year, UBS was named one of the 100 Best Companies for Working Mothers living in the U.S. by "Working Mother" magazine. It is a member of the Stonewall Diversity Champions scheme and has active gay and lesbian, ethnic minority, and women's networking groups. UBS was included on "Business Week"s "The Best Places to Launch a Career 2008", and ranked No. 96 out of the 119 total companies listed. On 2 February 2010, UBS topped the charts for the ninth year in a row in Institutional Investor's annual ranking of Europe's most highly regarded equity analysts. In a year of extremes for equity markets, money managers say that no firm did a better job than UBS to keep them informed about which European sectors, countries, and industries offered the greatest potential. On 4 May 2010, UBS Investment Bank was voted the leading pan-European brokerage firm for equity and equity linked research for a record tenth successive year. A Thomson Reuters Extel survey ranked UBS number one in all three of the key disciplines of research: Research (tenth year); Sales (ninth year running); and Equity Trading and Execution (up from second place in 2009). UBS was also named as the number one leading pan-European brokerage firm for economics and strategy research.


title: UBS

text: On 31 October 2013, UBS Wealth Management was voted the "Best Global Private Bank" by Professional Wealth Management, retaining the title in 2014 while also being recognized as the "Best Private Bank for Philanthropy Services", and "Best Global Brand in Private Banking". On 27 October 2016, for the 4th consecutive year, UBS Wealth Management won the "Best Global Private Bank" title, as well as the "Best Private Bank in Asia award" for the 5th consecutive year. UBS won the top prize again in 2018.


title: UBS

text: In 2014, the Group received Euromoney's Awards for Excellence 2014 as the "Best global bank", and as the "Best Bank in Switzerland". In 2017, UBS not only retained its leading position taken in 2016 in the main category "best private banking services overall" at the Euromoney's "Private Banking Awards", but also received recognition as "Western Europe's best bank for advisory 2017".


title: UBS

text: In 2018, for the third consecutive year, RobecoSAM, an organization specialized exclusively on Sustainability Investing and conducting extensive research, named UBS in its Industry group leader report 2018 for each of the industry groups represented in the Dow Jones Sustainability Index the group leader in "Diversified Financials". The report highlighted Group's sustainability efforts directed through its UBS and Society program: a cross-divisional platform involving activities and capabilities in sustainable investing and philanthropy, environmental and human rights policies, UBS's own environmental footprint, as well as the community investment. The Group also received recognition from "Global Finance" which rates financial services providers that best meet the specialized needs of corporations on a global level. The selection criteria are focused less on the size, but rather on qualities that companies look for when choosing a provider. UBS was named in the category "Global Winners" as "Best Private Bank in the World" 2017, and in the list of global best banks 2017, the Group received the award as "Global Winner" in the category "World's Best Investment Banks 2017".


title: UBS

text: In 2019, UBS was listed as one of the Top 50 World's Most Attractive Employers Global Business Ranking 2019 by Universum Global Survey.


title: UBS

text: UBS is particularly active in sponsoring various golf tournaments, cross-country skiing in Switzerland, ice hockey, and a range of other events around the world. UBS was the sponsor of the Alinghi sailing ship, winner of the Americas Cup in 2003. UBS has been or currently is a sponsor of the following sporting events and organizations:


title: UBS

text: UBS's cultural sponsorships are typically related to classical music and contemporary art, although the company also sponsors a range of film festivals, music festivals, and other cultural events and organizations. UBS supported the Guggenheim UBS MAP Global Art Initiative in which the Solomon R. Guggenheim Foundation identified and worked with artists, curators and educators from South and Southeast Asia, Latin America, and the Middle East and North Africa to expand their reach in the international art world and challenge the Western-centric view of art history. UBS has previously been or currently is a sponsor of the following cultural events and organizations:


title: Starfox (comics)

text: Starfox (Eros of Titan) is a fictional character appearing in American comic books published by Marvel Comics. He first appeared in "The Invincible Iron Man" #55 (February 1973), created by Jim Starlin. He is depicted as a member of a human offshoot race known as the Eternals. He was born on Titan where he is the son of Mentor and the nephew of Zuras. Where Eros serves as the superhero Starfox, he is opposed by his mad brother Thanos, much like the rest of the universe. He has the power to psychically control other people's emotions. He was a member of the Avengers and Dark Guardians.


title: Starfox (comics)

text: Starfox first appeared in "The Invincible Iron Man" #55 (February 1973), which was scripted by Mike Friedrich with story and illustration by Jim Starlin.


title: Starfox (comics)

text: Eros is a member of the Eternals, a genetic offshoot of humanity, that left for deep space from Earth thousands of years ago and settled on Saturn's moon of Titan. Eros is the youngest son of A'lars (also known as Mentor) and Sui-San, the nephew of Zuras, and the grandnephew of Uranos. He grew up on Titan to be a fun-loving, carefree womanizer and adventurer in contrast to his brother Thanos, a power-hungry, nihilistic conqueror. Only when Thanos launched his first major attack on Titan did Eros begin to take life a bit more seriously.


title: Starfox (comics)

text: Years later, in a subsequent campaign of terror by Thanos, Eros fought alongside Titan's handful of survivors. Eros joined the alien Captain Mar-Vell in battling Thanos's minions. Eros was held captive by Thanos, who revealed that he had killed their mother. Eros was freed from captivity, met Iron Man and Moondragon, and assisted Mar-Vell and the Earth hero-team called the Avengers in the first major defeat of Thanos. Eros later met Pip the Troll, and his relationship with Heater Delight was revealed. Eros was later held captive by ISAAC, but was eventually freed. No longer bound by duty on Titan, Eros left the war-torn moon, seeking out pleasure and recreation on humanoid-inhabited worlds.


title: Starfox (comics)

text: Eros returned to Titan to help console his cancer-stricken friend Mar-Vell when he retreated to Titan to spend his final days. Just before he died, Mar-Vell made Eros promise to take care of his Titanian companion Elysius after he was gone. Eros honored his vow for several weeks, until Elysius, realizing his wanderlust, released him from his promise. He left Titan and Elysius for Earth. He arrived on Earth, where he sought out and joined the Avengers as a trainee. They admitted him to their training program and the Wasp gave him the name Starfox, since they felt Eros was an inappropriate code-name. He then went on his first mission with the team, against Annihilus. He helped the Avengers vanquish the Wizard. He helped resuscitate the Vision with the help of ISAAC, and was later made a full Avenger. While on the team he had his first meeting with the Earth Eternals. Eventually, he revealed his pleasure-stimulating powers to the assembled Avengers, and helped them defeat Maelstrom. He traveled to another dimension with Spider-Man. He then helped the Avengers defeat Terminus. He battled the space pirate Nebula and learned of her claim to be the granddaughter of Thanos. He left the Avengers with Firelord to pursue Nebula. He eventually encountered and was defeated by the Xandarian villain Supernova who blamed Nebula for the destruction of his homeworld. Eventually he found Nebula. He was held captive by Nebula, but freed himself, and assisted the Avengers and the Stranger against Nebula.


title: Starfox (comics)

text: Eros returned to a hedonistic life of adventure, preferring to wander space in search of romance and adventure. He would often return to help the Avengers in their adventures, serving during such cases as the Terminus crisis, , and the Nemesis case involving the Infinity Gems and the so-called Ultraverse. When Thanos had gained the Infinity Gauntlet, one of the first things he did was capture Starfox and place him under various torments. Starfox was forced to witness various cosmic murders, power plays, the personal deaths of heroes he knew and other atrocities. He did attempt to charm Thanos out of his plan but had his mouth neutralized for his effort.


title: Starfox (comics)

text: Starfox spent time with the son of Mar-Vell, Genis-Vell, and attempted on multiple occasions to assist him and steer him in the right direction. Once, he came up with a device that would block telepathic transmissions during sexual activity.


title: Starfox (comics)

text: Starfox was part of a re-gathering of Avengers when Morgan Le Fay attacked all current and ex-members. After an adventure in an alternate universe, Starfox left Earth with Tigra, planning to head towards a known pleasure planet.


title: Starfox (comics)

text: Eros and his brother, Thanos, have a custom, where each Eternal year (equivalent to 1,000 Earth years), they bury the hatchet and convene at a neutral place, usually bearing gifts. This was an initiative of their father, who demanded that the two would meet every year as a reminder of the blood that runs through both their veins. The meeting is called The Truce and the two meet alone, although the hero Quasar was present at one of their meetings, and they refuse to fight one another.


title: Starfox (comics)

text: Starfox was put on trial for sexual assault, accused of using his powers to seduce a happily married woman. He was defended by lawyer Jennifer Walters, the She-Hulk. The law firm which employed her, Goodman, Lieber, Kurtzberg & Holliway, was contracted by Mentor to defend his son from the allegations. In the course of the trial, Ms. Walters came to suspect that Starfox had used his powers on her during their time in the Avengers, resulting in a brief sexual interaction. By this time, Starfox had been banned from the courtroom after it was determined that he was using his special abilities to influence the witnesses. When Jennifer Walters confronted Starfox with her suspicions via closed-circuit video link, he evaded her questions and then cut the video feed. Walters angrily charged out of the courtroom, transformed into She-Hulk, and caught Starfox as he was attempting to escape from Earth. She-Hulk dealt Starfox a savage beating, giving him no chance to defend his actions, knocked him unconscious, finally duct-taping his mouth shut to ensure that he could not use his abilities to elude punishment. However, Mentor, Starfox's father, effected his son's release by teleporting Starfox away to Titan.


title: Starfox (comics)

text: Mentor eventually staged a native Titanian trial in the hopes of clearing his son's name. The Living Tribunal, interested in the equity of the process, called on She-Hulk as prosecuting attorney. Jennifer Walters, in an attempt to get to the bottom of the matter, agreed to a mind probe of both Starfox and herself. She discovered that Starfox did not use his abilities to influence her decision to have sex with him, but that he was deliberately responsible for her sudden infatuation with and marriage to John Jameson. An enraged She-Hulk once more lashed out at Starfox for toying with her life, bringing the legal proceedings to a halt.


title: Starfox (comics)

text: Thanos now appeared at the trial and testified that his brother, Starfox, inspired his obsession with Death when they were children, when attempting to make young Thanos accept the death of an animal he had involuntarily killed with his enormous strength. By Titanian law, Eros would thus take full responsibility for all the genocides Thanos had later committed. In the following issue, it was revealed that this was a false memory that Thanos implanted into Starfox's mind and shared by a Thanos clone that the real Thanos sent. Thanos' implantation of the memory is what caused Starfox to briefly become mentally unbalanced and use his power in this manner for the first time. Starfox agreed to have Moondragon shut them off completely rather than risk hurting more people.


title: Starfox (comics)

text: Starfox is later seen living on Titan again, with his abilities restored. He is shown flirting with a number of women, but states that he will not use his powers to woo them. Ultron soon attacks Titan and assimilates the entire population (including Mentor) via a robotic virus, transforming the moon into Planet Ultron. Starfox flees to Earth and meets with the current team of Avengers (now led by the new Captain America), and teams up with them to liberate his world. He plays a key role in the Avengers' victory, using his powers on the half-organic Ultron to force the villain to have an emotional breakdown.