Word: crunchingly
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Asian stock markets posted sharp gains Sept. 19 as investors grew more confident that stepped-up government efforts to contain the damage caused by the U.S. credit crunch would be effective. Japan's benchmark Nikkei index was up 3.8%, Hong Kong's Hang Seng 9.6% and the Shanghai stock index shot up 9.5%, recovering some of the steep losses suffered earlier in the week...
...Monday's Chapter 11 filing by Lehman Brothers and the bailout of Merrill Lynch by Bank of America have only added to a yearlong credit crunch that is changing the way film financing deals are structured in Hollywood. Not unlike homebuyers facing tougher standards to get a mortgage, the people who greenlight movies are facing more stringent demands from their financiers. "All of the studios, if they want to get a deal done in this environment, will need to better align their interests with investors," says P. John Burke, a film finance lawyer at the firm Akin, Gump, Strauss, Hauer...
...coming off the boom. Foreign buyers have scattered, and Khan now has to drum up customers over the Internet or with magazine ads. "No one's got cash in their account," sys Khan. "Now in the back of their mind everyone is thinking, is this going to be the crunch...
...Detroit's carmakers have had their credit ratings downgraded; GM has had to fight off rumors of an impending bankruptcy; and Cerberus, Chrysler's principal owner, has been hammered by a new round of cutbacks. Ellen Hughes Cromwick, Ford's chief economist, said this week that the unfolding credit crunch has a had a palpable impact on the carmakers. "The credit crunch could persist for some time," she said. "That's a situation that adds a lot of uncertainty to the market...
...have "extreme difficulty paying its obligations" after a 100-year storm, and that premiums on nearly every property, car and business could skyrocket. A report for the state Office of Insurance Regulation found that even a 50-year storm would cause extreme financial stress, especially given the current credit crunch...