Word: banke
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...decline. Sales data from the market-research firm NPD shows that in the U.S., technology unit sales were up 10% in May on a year-over-year basis. However, revenues declined 11% over the same time period. "Most of the unit growth is fueled by netbooks," observed analysts at Bank of America/Merrill Lynch in a recent report. (Read "Why Are Netbooks So Popular...
...politeness fool you," says Elizabeth Warren. The Harvard Law professor and head of the congressional panel monitoring the bank bailout had just finished a hearing in New York City and was nibbling at a dish of pasta with zucchini. "I can't think of anyone I'm afraid of," she adds. "Certainly not someone who may have had a hand in bringing this country to the brink of disaster...
...most difficult, or perhaps impossible, jobs in Washington: chairing a bipartisan panel tasked with scrutinizing how the Treasury Department - first George W. Bush's, now Barack Obama's - is spending the $700 billion in federal money intended in large part to shore up failing banks. The role has Warren monitoring the decisions of Treasury Secretary Timothy Geithner, Federal Reserve Chairman Ben Bernanke and the big-bank CEOs who have taken taxpayer money to clean up companies' balance sheets. If Warren's journey from Harvard to the center of the emergency financial-rescue effort were a movie, it could be called...
American Presidents have opposed Israeli settlements in the West Bank since Israel conquered it in 1967. But in practice, they've mostly turned a blind eye. In 1991, President George H.W. Bush showed why when he tried to condition loan guarantees to Israel on a halt to settlement growth and stirred up a nasty political hornet's nest in the process. He won only 11% of the Jewish vote the following year. (See pictures of 60 years of Israel...
...Telecom, the Middle East's largest wireless firm, was awarded a contract to install a national cell system. The 25-year contract, in a joint venture with the North Korean state telecom entity, calls for a $400 million investment, which Orascom doubled down on by also investing in a bank and hotel project in Pyongyang. (View pictures of the rise of Kim Jong...