Word: bernard
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...Prize in Literature in 1995 for what the Swedish Academy of Letters praised as "works of lyrical beauty and ethical depth, which exalt everyday miracles and the living past." He is the fourth Irish writer to have won the prize, joining the ranks of William Butler Yeats (1923), George Bernard Shaw (1925) and Samuel Beckett (1969). He is one of the most popular poets of all time (his collections, particularly North, have outsold nearly all other poetic collections in recent memory) and the author of a collection of 18 books of poetry, prose and drama, some original work, some collaborative...
BRASILIA, Brazil: President Fernando Henrique Cardoso has finally rolled out the gritty details of his long-awaited austerity plan: tax hikes and spending cuts on nearly everything he's constitutionally allowed to touch. "It's a bold plan," says TIME senior economics reporter Bernard Baumohl. "It's what he promised both the IMF and the Brazilian people." Now for the hard part: getting it past Congress...
...compared with a $212 million profit for the same period last year; Hitachi lost $1.04 billion compared with a $204 million profit in the equivalent period last year. "These companies will bleed as long as demand at home and in Asia remains weak," says TIME senior business reporter Bernard Baumohl. And therein lies Japan's vicious cycle: The bursting of the country's banking and real estate bubble created a credit crunch throughout Asia, and the consequent financial turmoil shrank markets for Japanese products -- eating into the manufacturing sector that turned Japan into an economic superpower. The country's Nikkei...
...down his Quantum Emerging Market Growth fund and merge two other hedge funds in a move designed to change the tone of his Quantum group. "This is a sign that Soros plans to play it safe until the dust settles in the world economy," says TIME senior business reporter Bernard Baumohl. "He is consolidating his fund's investments under the control of Stanley Druckenmiller, who is a more cautious money manager." And Soros would have more cause than most to show caution -- his fund suffered a $2 billion hit in Russia alone this year, and his emerging-market fund...
...Competition for business in the future is going to depend on how much confidence Japanese investors have in these companies," says TIME senior economics reporter Bernard Baumohl. "That means a comprehensive review of their strategies -- less risk, better decisions and more transparency." Baumohl says that Japanese banks are already losing spooked customers to U.S. outfits such as Citibank. The brokerage houses face similar defections. Maybe they'll be scared straight...