Word: branch
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Lauren Palumbowest Long Branch...
...Hong Kong at its worst. A laughably messianic invitation (issued as a slab of metal bearing the restaurant's name, but with no address or other details enclosed) summoned hundreds of what one would only describe in kindness as "VIPs" to the Landmark commercial complex to toast the new branch of Rainer Becker's Knightsbridge restaurant in a suffocating, five-deep-at-the-bar ordeal. How lovely, then, to return to Zuma some months later and realize that it is not a claustrophobic hellhole of anemic heirs and glassy-eyed "It" girls: it is, in fact, a highly inviting venue...
Some joined the queues before dawn. Many waited in line for days. But among the armies of customers to besiege Northern Rock bank branches in recent days, there was a common cause. "I'm doing what everybody else is doing," one elderly man, waiting to withdraw his money from a branch in northern England, told reporters. That meant "panicking. I'm joining the herd...
...outperform every other British banking stock in 2006. The lender - not yet 50 years old - "was a darling of the stock market," says Howard Wheeldon, senior strategist at BGC Partners in London. "It was perceived as a good growth stock with a good model." Its approach: a limited branch network meant savings chipped in by its own customers amounted to a smaller chunk of the funds it could lend in the form of mortgages. So the company turned instead to other banks for cash. The result: three-quarters of its funds were borrowed from the wholesale credit markets, versus around...
...Federal Reserve to its key federal funds rate, its first cut in four years - will heap pressure on the Bank of England to reduce U.K. rates, now at 5.75%, before the end of the year. A big enough cut, and people may well start rushing back to lenders' branch offices: this time, to refinance their mortgages...