Word: bankses
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My favorite website, though, is Karaoke Party, based in Gothenburg, Sweden. All of its songs are free. The downside is that there are only 154 of them. (They're pretty contemporary, though, and 16 new tunes are added each week, depending on what the site's 20,000 users request...
In a normal cyclical slowdown, lowering interest rates encourages fresh business activity by reducing the cost of borrowing from banks. With more borrowing comes more investment, more jobs and more growth. But these are far from ordinary times. Banks, already burdened with bad consumer and commercial debts, are desperate to...
Porsche denied any responsibility for the stock market tumult caused by its announcement. And it sought to assuage its critics by promising to sell shares totaling about 5% of VW back to the market to allow banks to close their positions - at a handsome profit, of course, because Porsche first...
It was beautiful while it lasted: Impressive growth rates, speedy development, and a strong and diversified financial services industry put miniscule Iceland on the economic map. But it wouldn’t last forever. In the past month, all three major Icelandic banks have been effectively nationalized, the stock market...
The market peaked on September 3, 1929. Steel production was down, several banks had failed, and fewer homes were being built, but few paid attention - the Dow stood at 381.17, up 27% from the previous year. Over the next few weeks, however, prices began to move downward. And the lower...