Word: bankes
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Dates: during 2000-2009
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...posted its huge loss. GE (GE) had not cut its dividend. And, Citigroup (C) had not been partially taken over by the government. Some analysts might say that those were unrelated activities made by large companies in unrelated industries. However, these firms were, until recently, the largest car company, bank, and industrial conglomerate in the world. How could the futures of each one disintegrate so rapidly in a matter of a few days...
...That toxic debt was also behind the other bad company news of the day, when HSBC - Europe's largest bank - said it would seek $17.1 billion in new capital, and close its U.S. consumer-lending unit, Household Finance. The American affiliate had saddled HBSC with $16.3 billion in subprime-rooted losses, and explained the group's 62% dip in 2008 profits of $9.3 billion. But closing the troubled unit means adding its 6,100 employees to the list of 3 million American jobs eliminated since November...
...program is the first of its kind to be completed by JPMorgan, but the bank is currently discussing similar programs with several other universities to help students from overseas, according to Tom Kelly, a company spokesman...
...China's stimulus plans "could have an enormous difference in whether or not people want to buy cars," says Ben Simpfendorfer, chief China economist for the Royal Bank of Scotland. "What's unusual about this cycle is that China faces the same problems as everywhere else in the world. The big question is how to spur consumer spending. Strong auto sales will help China, just like they'll help America or Europe...
...rather than Hamas that may be headed the way of the Dodo. Palestinians are increasingly angry that after years of negotiations and photo opportunities with American and Israeli leaders, President Abbas has not managed to secure an end to settlement activity or an end the occupation of the West Bank. His paralysis in the face of Israel's Gaza operation simply confirmed what many Palestinians (and Israelis) have long believed about the limits of his influence over events. The reconciliation process agreed to by Hamas and Fatah delegates in Cairo will include the holding of new elections in both Gaza...