Word: creditably
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...jury will be out for a long time about whether the federal government's plan to stimulate the economy and save banks will work. The very earliest indications will be if job loss begins to decelerate in the second half of this year and banks free up credit to consumers and businesses. If this is not interrupted by more trouble in the financial system or problems in large economies abroad, it may be successful...
...middle of another maelstrom. The global economic crisis has hit countries like Latvia, Hungary and Poland particularly hard. Eastern Europe's boom over the past few years was fueled in part by heavy borrowing from Western banks and easy access to foreign currency denominated loans. Now, with credit dried up, huge debt loads to pay and Eastern European currencies in free fall, the good times are truly over...
...bankruptcy. According to industry analysts, the company has strong management and the backing of the Tata Group, a venerable Indian conglomerate with $63 billion in annual revenues. "For Tata Motors to be in dire straits, things will have to worsen much more," says a Mumbai-based analyst with Credit Suisse who asked not to be named...
...weeks, Tata Motors has hit the front pages of India's financial newspapers with more gloomy news: inventories are piling up and factories are being temporarily idled to slash production. Earlier this month, press reports surfaced that the company had missed payments to suppliers. Declining revenues and a tight credit market is hurting the company's cash flow, and officials were forced to issue a statement acknowledging financial problems. "There could be a delay in payments[ to suppliers]," Tata Motors Managing Director Ravi Kant told reporters at a briefing on Feb. 5. "It is a difficult situation." Tata Motors officials...
...reported an annual profit for the first time since it was acquired by Ford (the U.S. carmaker bought Jaguar in 1989 and Land Rover in 2000). But in the months leading up to the completion of the deal, sales of luxury cars and SUVs tanked as the global credit crisis worsened. JLR slipped back into the red, losing $383 million in the first half...