Word: crunchingly
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...ultimately volatility might simply be part of working through the effects of the credit crunch. The world is undergoing a great deleveraging and all that unwinding has ramifications. At the same time, the onslaught of market moving news - economic data, corporate earnings, governmental action - keeps coming. There is a massive uncertainty in the air, and in a market it is perfectly logical - perhaps even necessary - for uncertainty to be reflected in asset prices. Uncertainty, as reflected in volatility, is legitimate information, too. In a panel discussion about volatility's implications, Morgan Stanley executive director Robert Shapiro took a step back...
...demand for oil is off 10% worldwide, why are prices down more than 50%? It's not a one to one relationship - small demand swings can cause large price swings, says Blanch. And the unraveling of oil is the other side of the credit crunch. Banks, investment banks and speculators have pulled money out of oil futures, further driving oil prices down; that's one reason why prices have fallen far faster than demand...
...described as Russia's wealthiest man, took place aboard Deripaska's super-yacht and in other opulent Adriatic locations over a long weekend in August. Throw in cameo appearances by Rupert Murdoch and his daughter Elisabeth, and the Corfu capers are proving the perfect distraction from Britain's credit crunch woes. A month ago Labour and the Conservatives pledged cross-party cooperation to shield Brits from the economic crisis, but nobody ever imagined it would take this form...
...moment, Osborne and his colleagues are left scratching, but fleas have a habit of jumping and in recent days some reporters have turned their attention to the ties that bind Rothschild and Deripaska and to the impact of the credit crunch on their business interests. Rothschild explained in his Times letter that he was moved to intervene because of Osborne's original indiscretion in telling a journalist about his private conversation with Mandelson. "It ill behoves all political parties to try and make capital at the expense of another in such circumstances. Perhaps in future it would be better...
Oxford Economics, which advises the British government, expects 110,000 jobs to be cut in London between this year and 2010--although if the credit crunch is protracted, that number could rise to almost 150,000 next year alone. Real estate is already reeling. Plans for two huge new skyscrapers in the City have been shelved, and the price of prime houses in central London has dropped 12% so far in 2008, according to the real estate firm Savills, while sales volume is down 50% in some areas like Clapham and Fulham...