Word: dollarization
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...idea is to borrow money cheaply in one country and invest it in another with higher interest rates and where the currency may be appreciating. Last year a plunging dollar and the Fed's decision to slash rates made the U.S. currency ideal for funding carry trades. For example, selling the U.S. dollar to buy Australian dollars, Norwegian kroner and Brazilian reals yielded returns in excess...
...mountains as a backdrop. "It's blown us away, to be honest," says U.S. speedskater Chad Hedrick, who won gold, silver and bronze medals at the 2006 Winter Olympics in Turin, Italy, and is a medal contender this year. "They really went big on this. It's a million-dollar view, for sure." (See 25 Winter Olympic athletes to watch...
...held an emergency videoconference to discuss how to deal with the situation Wednesday, and the issue was expected to be at the top of the agenda when European Union leaders meet in Brussels on Thursday. Investors are watching closely for any sign of agreement - the euro rose against the dollar Wednesday as it appeared that a bailout might be imminent, then fell following signs from Germany that a plan may not emerge this week...
...city could recoup its investment if the developer sells enough million-dollar condos to Vancouver residents after the Olympics are over. That may have been a reasonable expectation in the real estate go-go days. Yes, the digs are nice, and the development has won kudos from environmentalists for the energy-efficient design of the complex, which has green roofs and will reuse rainwater, and for its easy access to public transportation. Metro Vancouver housing prices have rebounded from the worst recession lulls - year-over-year condo prices were up 15% in January - but it's still not the best...
...National Labor Committee report called into question the new Sesame Street dolls, which were allegedly made under sweatshop conditions. Just recently, the NLC released a report on the abject conditions in a Reebok sweatshop in San Salvador. According to the report, workers are paid ten cents for each eighty-dollar jersey they make. Unfortunately, the NLC notes that this pay only “amounts to twenty three percent of the basic subsistence need for food, housing, health care, and clothing for an average sized family of four”. In such cases, a move against China?...