Word: banking
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...consistent suppliers. In December 2007, he formed a partnership with an affiliate of a Hong Kong - listed gaming company named Amax Entertainment Holdings; Amax raised $250 million through a stock sale, which was then used to provide financing to eight junket operators. In effect, Amax became like a central bank for the high-roller market. Using this financial leverage, the Amax affiliate funneled gamblers to the Crown and in return got an above-market commission, some of which is passed on to the operators...
...business lobby played a large role in Merkel's "dramatic" climbdown from her outright endorsement of Georgia's NATO membership in Tbilisi last month to her softer stance in Brussels. John Kornblum, a former U.S. ambassador to Germany who is now the chairman of the German unit of investment bank Lazard, says that while he opposes sanctions himself, Germany's tolerant attitude toward Russia goes even deeper. "Germans are very, very ready to take the Russians' side," he says. "This crisis will make the appeasers even more appeasing than they have been until...
...public schools. Fees themselves at many public universities are skyrocketing, even as tuition holds more or less steady. "It's fair to ask whether a college kid should have to wash dishes in the dining hall to pay his tuition when his college has $1 billion in the bank," U.S. Senators Max Baucus (a Democrat from Montana) and Chuck Grassley (a Republican from Iowa), the leaders of the Senate Finance Committee, wrote last January in a letter to the 136 American colleges with endowments of $500 million or more...
...have friends from the West Bank, 17th Ward, 9th Ward, and general surrounding towns around New Orleans," Williams said by e-mail from the Baton Rouge airport. "Many stayed because they didn't have means to leave, and were unsure how long they would be gone. Many stayed because they have little to nothing, and there is not much more they can leave...
...July 2007, the LDP lost the majority it held for five decades in the Upper House to the Democratic Party of Japan (DPJ), the opposition party. Since then, Japanese politics has been rife with indecision. The government has been paralyzed by issues ranging from the appointment of a central bank governor to an antiterrorism refueling mission in the Indian Ocean. Tack on a scandal over millions of dollars in lost pensions, a resumption of the gas tax, higher health insurance premiums for the elderly and the recent flailing and recessionary economy and its no surprise that Fukuda's approval ratings...