Word: citibank
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...publicity surrounding the large debtors has overshadowed the plight of many other less developed countries that are in far worse shape. Says William Rhodes, a senior vice president at New York's Citibank, which has $18.4 billion on loan to Latin America: "Progress in some countries is sometimes balanced by setbacks in others." Bolivia, which has an annual inflation rate of 3000%, stopped making payments on its $3.5 billion debt last May. The Sandinista government in Nicaragua is using at least 40% of its budget to fight its civil war and thus has no way to meet payments...
...Middlebury college recently released a warning to its students regarding a credit card scam claiming to represent Citibank and Visa...
Prepare to take a closer look at your credit-card bills: Chase, Citibank, and other card issuers are raising minimum payments from 2% to as much as 5% of outstanding balances. The rates will take effect by fall. --By Jeremy Caplan
...course, with the U.S. population expected to be 25% Hispanic by 2050, hitting the Hispanic sweet spot isn't just politically correct, it's a business necessity. Even as big companies like Hershey's, Citibank and Proctor & Gamble roll out products just for American Hispanics, advertisers already see the next frontier to be Latino-centric mainstream marketing, the same way hip-hop, urban culture has pervaded the general ad market in the past decade. Crest, P&G?s flagship toothpaste, has just named 5-year-old Cuban-born girl Enya Martinez its new ?Crest Kid,? the all-American advertising icon...
...Still, it seems inevitable that Asia's best companies will follow in the footsteps of Citibank and Coca-Cola, firms famous for tapping their worldwide operations for the best managerial talent. Economic reforms in places like South Korea and Taiwan in recent years have pushed Asian bosses to accept more outside influence by giving shareholders more rights and dismantling restrictions on foreign investment. Change will not come overnight. At the annual shareholders meeting of oil company SK Corp. in Seoul on March 11, some shareholders, led by Sovereign Asset Management, failed to oust chairman Chey Tae Won from the board...