Word: bankes
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Dates: during 2000-2009
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...plan to resuscitate the global economy has been well-received. American banks are being helped by government financing and new accounting rules that let them cook their books without being called to task by their auditors. Bank stocks have done well and the news about the sector may be good enough for them to hold their ground...
...Banks shares leapt 53% since early March. That's more than double the 21% jump in the overall market since stocks hit a low on March 9. Investors are pilling into financial firms in that hopes that changes in accounting rules, optimism from bank CEOs and government fixes spell the bottom for these stocks. (Read "Unemployment Rise Shows Recession Far From Over...
...that the tug of recession. "Our core view is that banks' [stocks] will not bottom until nonperforming [loan] growth decelerates," opined Goldman Sachs analyst Richard Ramsden in a report to clients on Friday. "All of the data points we track in the first quarter point to an acceleration." Banks are expected to report their results for the first few months of the year in the next two weeks. And despite positive statements from bank CEOs in recent weeks, earnings at nearly all of the nation's largest banks will likely have fallen in the first quarter versus one year...
...year, $102 million conversion, the building has been restored to its splendor and reborn as a five-star hotel. Designers cleverly converted a former cashiers' hall into a light and airy ballroom that features the original 19th century glazed roof. Underground, they created a luxurious spa by transforming the bank's jewel vault into a spectacularly lit 66-ft. (20 m) swimming pool and recasting a massive steel-and-copper money vault as a manicure parlor. (See 10 things to do in Rome...
...also agreed to provide an additional $250 billion in guarantees for export credits and other trade finance, which have dried up in the past few months and led to a drastic drop in global commerce. The size of these packages, plus agreement on new credit facilities from the World Bank and other multilateral lending agencies, was warmly welcomed by representatives from developing countries - including India, whose Prime Minister, Manmohan Singh, said, "I am going back home very satisfied...