Word: crashingly
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...More than anything, the startling number testifies to the buoyancy of equity markets in China - which many analysts believe are classic, overvalued bubbles, destined at some point to crash. Indeed, the Shanghai market tumbled more than five per cent on July 5, before recovering on Friday. But $52 billion, whatever the environment, is serious money - without question a milestone in China's extraordinary economic transformation. Consider that the most money ever raised for IPOS in the United States in a single year was $63.1 billion. That was in 1999 - at the peak of the technology bubble...
...China's regulators, the more important issue is this: Having overhauled the nation's laws regulating its stock markets and successfully enticed some of the country's blue chip companies to issue stock at home, what happens now if a crash comes? Some investors in China, in fact, are already miffed at the government, saying that the new supply of shares coming to the mainland's markets - regional banks such as the Bank of Nanjing are next in the IPO line - are starting to put downward pressure on equity prices. As far as the authorities are concerned...
...ACCUSED: Megrahi's fate is unclear. Former FBI investigator Marquise readily admits the case against him is based on "a series of circumstances," and all must be true for Megrahi to be guilty. With a tiny fragment of circuit board found at the crash site, investigators pinned the bomber to an unusual style of Swiss timer, manufactured by a firm that claimed to supply the Libyan military. Clothing scraps from the suitcase carrying the explosive device were linked to a source in Malta. And the Maltese shopkeeper identified Megrahi (many months after the bombing) as the Libyan who bought...
...lost family or friends in the bombing, this ruling is a sharp reminder that their doubts and questions are still not laid to rest. "I was one of the only relatives who sat through the trial," says Jim Swire, an English doctor whose daughter, Flora, died in the crash. "I went into that court expecting to be convinced those two men were guilty; I emerged thinking it was a cock and bull story." Like some other family members, he is calling for an independent inquiry - not just into the Megrahi conviction, but into the attack itself and all the investigative...
...causes. "It's not a defense to say, I was just a distributor," says Jonathan Bunge, a partner at the law firm Kirkland & Ellis in Chicago. Foreign Tire Sales, the company that imported the recalled tires from Hangzhou Zhongce Rubber, is named in a lawsuit over a fatal crash involving the tires...