Word: bankes
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Dates: during 2000-2009
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...investors already wounded by the global economic crash, news of a potential pandemic came as a further blow. "As if we didn't have enough to contend with," strategists at the Royal Bank of Scotland wrote in a note to clients Monday, "it's just what we need now, a flu pandemic in the midst of the biggest financial crisis since the Great Depression." Amid the sell-off, travel industry stocks fell sharpest. Shares in Lufthansa, Europe's second-largest airline, tumbled by more than 12% before recovering slightly. Those of rival British Airways pulled back from similar lows, trading...
...turn out to be from the swine flu virus itself - especially if it ends up being relatively mild - but what Osterholm calls "collateral damage" if governments respond to the emergency by instituting border controls and disrupting world trade. Not only would the global recession worsen - a 2008 World Bank report estimated that a severe pandemic could reduce the world's GDP by 4.8% - but we depend on international trade now for countless necessities, from generic medicines to surgical gloves. The just-in-time production systems embraced by companies like Wal-Mart - where inventories are kept as low as possible...
When Sophie, a financial analyst in Paris, learned that her bank would lay off 50 employees by this summer, she didn't react by mailing out résumés or trying to ingratiate herself with her managers - she scheduled arthroscopic knee surgery. "I'm doing it now because I won't be able to if I wait and lose my job," says the 27-year-old, who, fearing questions from her employer, spoke with TIME on condition of anonymity. By going under the knife ahead of her potential job loss, Sophie can use the firm's supplementary health...
...Bainimarama unlawful, his ally, President Ratu Josefa Iloilo, abolished the constitution, sacked Fiji's judges and reinstated Bainimarama as Prime Minister. Bainimarama, who seized power in a 2006 coup, wants to reform a political system he calls racist and corrupt. Critics, however, call him a dictator. Fiji's central bank has devalued its currency 20% to boost exports and tourism amid the turmoil...
...York City A Rebound on Wall Street Goldman Sachs made a startling announcement on April 14 that for once had nothing to do with bankruptcy or federal intervention. The bank posted better-than-expected earnings--more than $1.8 billion. More strikingly, the firm revealed it had sold $5 billion in stock and plans to use the money to repay the $10 billion in TARP funds it borrowed in October 2008. In clearing its debt, Goldman hopes to free itself from the restrictions-- like those on executive pay--imposed on firms that received bailout money. Last year...