Word: downturned
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...global recession has a "patient zero", a single person who set off the series of events which may lead the economy into its greatest downturn since The Great Depression and, by some estimates, push 50 million people around the world out of jobs this year, according to The International Labour Organisation. (See pictures of the global financial crisis...
...Throughout Japan, managers are slashing production and restructuring to try to weather the economic downturn, which economists say could continue for the next two or three years. "Demand has been falling off a cliff since the collapse of Lehman Brothers," says Hiroshi Shiraishi, an economist at BNP Paribas in Tokyo. Shiraishi says exports declined a "massive" 15% in real terms last quarter...
...BofA wasn't alone. By early 2008, nearly all the big banks were poorly positioned to weather a downturn - particularly this downturn. Accounting rules demand that banks take a hit to their earnings by the value of a loan when it becomes clear a borrower is not going to pay it back. When a bank's loan losses are greater than its income, it has to take money from its shareholders' equity account to make up the difference. That's a big deal for a company's investors. If shareholders' equity is wiped out, their stock is effectively worthless...
...California—having deemed it no longer profitable, said Lynne A. Taylor, an independent consultant for the company. According to Taylor, the Harvard Square restaurant "was hanging by a thread," with its sales unable to sustain its operating expenses, particularly in the face of an economic downturn. She said that investors felt that Zebny "badly mismanaged" the businesses. "Everybody who had invested in them did not feel confident in his management ability," she said. Zebny could not be reached for comment yesterday. While the new management was in the midst of taking care of the closure and liquidation...
...Perhaps it's because they have more serious matters to worry about. Sigurðardóttir's appointment comes at a watershed time for Iceland. The country's economy has been hammered by the global downturn, its banks have been nationalized, and violent street protests have just led to the resignation of the previous government. (See pictures of the global financial crisis...