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...billion injection from the three Benelux governments, each of which will acquire a 49% stake in operations in their respective countries. In Britain, meanwhile, the government announced this week it had taken control of problem mortgages from Bradford & Bingley, Britain's second biggest mortgage lender. Despite those moves amid the spreading U.S. crisis, however, observers believe European companies and homeowners are not as exposed to financial ruin as their American peers. "For better or worse, depending on your perspective, these aren't the same property-owning societies like you have in the U.S.,"Buik says. "The temptation, even pressure...
...Amid increasing reports of food-borne illness, the GAO is calling out the Food and Drug Administration for failing in its duty to ensure the safety of the nation's food, particularly its fresh fruits and vegetables. Thousands of people have been sickened; the produce industry has lost millions of dollars. After studying farms and facilities and reviewing the FDA's practices for preventing contamination, the GAO makes an urgent if predictable recommendation: the FDA's authority must be expanded and its strategy updated, or Americans' health will continued to be threatened by the food they...
...continue to plan a campaign with a possible launch date of 2011,” Rogers said. “That date isn’t set into stone because so much depends on what happens right now.”Earlier plans for a capital campaign were delayed amid controversy over remarks of then-University President Lawrence H. Summers about women in science and pushed back further due to his resignation in 2006 and the period of interim leadership that followed.Harvard’s last campaign, completed in 1999, reaped $2.6 billion ($3.2 billion in today?...
Seniors beginning their job searches amid doom-ridden news of bank failures and Wall Street woes found a broader palette of jobs on display at the Office of Career Services’s Career Forum on Friday, an event that saw 1,500 students brave the pouring rain to meet with upwards of 140 employers. The participation of 38 consulting firms and 37 finance companies represented a strong presence at the event, though notably absent were major banks including Citigroup and Goldman Sachs, which have attended the career fair in the past. OCS’s interim director, Robin...
...leaders in Washington reached a tentative agreement on a government rescue strategy for the fraught U.S. economy. After intense, partisan negotiations, the core proposal of Secretary of the Treasury Henry M. Paulson’s original $700 billion bailout plan remains largely intact. Originally conceived and announced last week amid unprecedented U.S. bank failure and market turmoil, the bailout plan will appear in front of the House of Representatives this morning. The aim of the Paulson proposal, if passed, will be to inject liquidity into the stagnant credit markets, which must be greased in order to prevent further deterioration...