Word: downturned
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...also played its part. "Companies are restructuring, revising their strategies, trying to preserve their interest, their cash, their asset position," says Patel. "And because of looking at their businesses, they're starting to find more fraud." So, too, are company liquidators. With insolvencies among U.K. companies rising amid the downturn, disqualification proceedings against the firms' directors for fraud or theft rose 72% in the year to April, according to figures compiled by London law firm Wedlake Bell...
...event, entitled “We Are Harvard,” came just over a week after the Faculty of Arts and Sciences, the University’s largest school, enumerated $77 million in cuts to cope with the current financial downturn, affecting everything from athletic teams to breakfast offerings in the Houses and drawing a round of student and staff concerns...
...Sins of the Father The Maldives' coffers, though, are perilously low. In part that is a consequence of the global downturn, which has hit international tourism hard. The crunch was exacerbated by profligate spending in the final years of the Gayoom regime, as it sought to cement votes with new infrastructure projects. In February, Nasheed's government moved to auction off some of the former ruler's more extravagant state possessions, including a personal yacht, a private pleasure island and a gold-plated toilet...
...Brussels Plumbing a Downturn's Depths The economic crisis is hitting the E.U. even harder than its economists predicted in January. According to a new European Commission forecast, the "E.U. is not spared" from the "deepest and most widespread recession in the postwar era." European economies will continue to contract, with unemployment expected to reach nearly 11% by 2010. The report says that despite government bailouts and bank-stabilization plans, the E.U.'s economic situation is "exceptionally uncertain...
...Bomb’s leaders turned to fundraising in a last-ditch effort in March to save the print publication, appealing to undergraduates over House e-mail lists to support the magazine’s mission, which had been “severely compromised” by the downturn...