Word: downturning
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...often confrontational leadership style - which voters and financial markets alike decided isn't all that well suited to rescuing South America's second-largest economy from the ravages of a global recession. The Fernández-Kirchner comeuppance may well be taken as a first sign that the economic downturn is reining in the region's increasingly powerful Presidents, especially the leftists who this decade have become a popular counter to U.S. political and economic hegemony in the Americas. (See pictures of the global financial crisis...
...odds are increasing that more of StanChart's borrowers will struggle to pay back their loans. The bank's nonperforming loans were up 30% in 2008 compared with the previous year. Even though some Asian economies, chiefly China and India, appear to have passed through the worst of the downturn, analysts still doubt StanChart can repeat 2008's performance this year. Brokerage CLSA predicts pretax profit growth will slow to 4% in 2009. Reflecting the heightened risk, Standard & Poor's in late April revised its outlook for the bank to negative. "The biggest single worry is the economies...
...banks' balance sheets that they're willing to put equity into a bank? We've seen substantial progress in that area. Now we're still going to put in place these facilities for legacy assets because we think they are good insurance against the risk of a future downturn, and we think they provide some broad help to this process of thawing receding credit markets. If the world gets progressively better, you may see less demand for those facilities...
...recession is nearing its end. At least, it seems to be. A generally improving trend in the economic data has forecasters saying the downturn will turn into an upturn sometime between early this summer (the optimistic view) and late next winter (the pessimistic...
...Stockholm Breaking the Bank for War Despite the global economic downturn, world governments spent $1.46 trillion on defense in 2008--a new record, according to the Stockholm International Peace Research Institute. The U.S. continued to top the list, spending $607 billion to upgrade its armed forces--more than seven times the amount spent by China, which beat out the U.K. for the No. 2 spot for the first time...