Word: cashes
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Dates: during 2000-2009
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...thought. Banks were able to raise capital in May and early June with surprising ease. Selling new shares usually makes a company's stock price go down because the earnings-per-share pie gets cut up into more slices. But many of the banks have been able to raise cash and have their stock price continue to rise. J.P. Morgan, for instance, raised $5 billion in May, yet its stock price rose 14% over the course of the month. All told, the 19 stress-tested banks have raised a total $65 billion since the test was completed...
...move seems to have worked. Fifth Third says the cash payments were enough to persuade holders of more than $550 million in preferred stock to convert their shares to common. Add that amount to the more than $600 million Fifth Third had left from its stock offering, and bingo: Stress test passed - over $1.1 billion in new common equity. The problem is the money Fifth Third paid to preferred shareholders to convert to common equity will also end up depleting Tier 1 capital - a measure of total bank resources, not just common equity - by $365 million...
...Chinese government has begun turning a cold shoulder to Western corporations hoping to cash in on its consumers. Meanwhile, corporations are paying much closer attention to the risks and hidden costs of supplying their home markets with stuff made thousands of miles away in China. None of this necessarily means an end to the extraordinarily co-dependent economic relationship that China and the U.S. in particular have built up over the past decade. But it does mean big changes...
...This deal, they said, fell apart for economic - not political - reasons. The proposed Chinalco investment came when global commodity prices were at their nadir; BHP had walked away from a merger with Rio a few months earlier, and the company was in sudden and desperate need of cash to cope with a nearly $40 billion debt burden...
...leaves another basic question unanswered: What is China going to do with all of it's money, if the developed world sends signals that it doesn't really want it - at least in forms other than investments in US Treasury debt? One of the things a country with more cash than it can possibly invest at home - a description which China fits in spades - does is recycle its surpluses is through foreign direct investment. And China, in fact, has done scores of resource deals in the developing world - of late with Russia, Kazakhstan and Brazil...