In the know

International

Major international banks warn of gloomy fourth quarter
markets

Two major European banks warned on Tuesday that the markets will further deteriorate in the upcoming fourth quarter because customers are continually withdrawing funds from investment units, according to a New York Times article.

UBS, a Swiss bank and the Royal Bank of Scotland have both accepted government bailout plans in the recent months, which they hope will help stabilize the banks throughout the current fourth quarter. Both banks suffered greatly from investment losses in the American markets and other European banks.

John Cryan, UBS’s chief financial officer, said in the article that the investment banking business is not quite ‘at the right scale to operate most effectively given the current economic situation.’

National

Recent study links TV sex to teen pregnancy

The RAND Corporation, a nonprofit organization, released a study in which they found that the sexual content showed on television has a strong correlation to teenage pregnancy.

According to a CNN report, the study discovered that ‘adolescents with a high level of exposure to television shows with sexual content are twice as likely to get pregnant or impregnate someone as those who saw fewer programs of this kind over a period of three years.’ In addition, teens who watch sex on television are more likely to have intercourse within the following year.

The study attributes its finds to the fact that the media does not provide enough dialogue about sex, especially between children and parents.

International

Bin Laden’s son seeks asylum

According to a report by the Associated Press, Osama bin Laden’s son, Omar Osama bin Laden, sought out asylum in Spain on Monday, shortly after landing in a Madrid airport. Details of the grounds of the asylum request were not released.

Bin Laden was traveling from Cairo, Egypt to Morocco when he requested asylum during a stop in Spain.

He was being kept in the Madrid airport while the Spanish Interior Ministry debated his petition; they are given 72 hours to make a decision.