IN BRIEF

UBS 2011 profit down 44% on previous year

GENEVA: Swiss banking giant UBS yesterday posted a net profit of 4.2 billion Swiss francs (3.5 billion euros) for 2011, down 44 per cent on the previous year, and forecast a tough first quarter due to the economic crisis. From October to December, net profit reached 393 million francs, compared to 1.7 billion francs in the same period in 2010. This fell short of the expectations of analysts who had predicted a profit closer to 600 million francs.

Ford miffed by GM

ad for Super Bowl

DETROIT: Ford Motor Co on Monday blasted General Motors over a snarky advertisement for GM trucks run during the Super Bowl broadcast, but stopped short of taking any kind of legal action. The ad, during what proved to be the most-watched US television broadcast in history, showed Chevrolet Silverado trucks and their drivers surviving a 21st century apocalypse. "Where's Dave?" asked one of the survivors. "Dave didn't drive the longest-lasting, most dependable truck on the road. Dave drove a Ford," replied his friend.

'Several bids placed for bankrupt Saab':

STOCKHOLM: Several companies have placed preliminary bids to buy bankrupt Swedish carmaker Saab, one of the administrators said yesterday, refusing to disclose their identities. "We have received a few indicative bids," Hans Bergqvist told reporters in an audio conference, adding: "the indicative bids are interesting." He would not disclose who had placed the bids, nor the amounts involved but reiterated that the aim was to sell all of Saab.

Air France axe up to half of long-haul flights

PARIS: French flag-carrier Air France warned it would cancel up to half of its long-haul flights yesterday as aviation workers pursued a strike against plans to require them to give 48 hours notice of a walk-out. After causing limited disruption on Monday, the four-day strike by pilots, flight attendants and airport staff picked up steam.

Flaw exposed in security home cameras

WASHINGTON: Trendnet, a maker of Web-connected home security cameras, has issued an update to fix a vulnerability that allows Internet users to spy on private video feeds. The security hole, which was revealed nearly a month ago by a blog called Console Cowboys, allows for real-time online access to the home surveillance cameras without the need for a password.Agencies