Word: downturned
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After months of resisting the inevitable, Canada has finally been pulled into recession by the worst global downturn since The Dirty Thirties...
...Coming from a single income household, I knew that finances would have a tremendous bearing on my college choice,” Tamberino said, calling Harvard’s commitment to financial aid in light of the economic downturn “absolutely thrilling...
...Times are so bad that troubles at finance and banking companies are pushing economics concentrators into Teach for America interviews. Yet video games are not only beating the market but booming. In 2008, game sales broke records despite the biggest economic downturn since the industry began. U.S. game sales have risen to $2.91 billion. Nintendo Wii sales doubled in November to reach 2 million...
...Analysts are hard-pressed to predict which might be the first to go. The automobile sector is a priority industry for the Chinese government, and many carmakers are already heavily backed by the state, which could aid to keep local champions afloat through the downturn. This week Chery, one of the country's most successful domestic automakers, received a $1.5 billion loan from China's Export Import Bank. Jin Yibo, Chery's spokesman, says that the loan isn't government aid or any sort of bailout, but a "business deal" between Chery and the bank. However the money is characterized...
...some people backing him up. Despite the recent downturn, analysts remain bullish on the prospects of the China market. Lin says the car market will begin to pick up again in the second half of 2009, bolstered by the giant government economic stimulus packages that have recently been laid out in Beijing. That money, he argues, will rebuild confidence among nervous consumers. "In the long term, the China market is still quite promising," Lin says. Though that is undoubtedly true, the road getting there will be a bumpy...