Word: downturning
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...recession has been good to McDonald's. As consumers trade down to cheaper, faster food on the go, McDonald's has kept up its growth during the downturn. Same-store sales rose 4.3% for the quarter that ended March 29. Profits were up 4%, to $980 million. In this economy, that's an explosion...
...real estate, you name it - are still to come. Morgan Stanley economist Richard Berner estimated on Tuesday that even in the most bullish case, banks and other lenders have only recognized about half the $1.7 trillion in loan losses they're likely to suffer over the course of the downturn. In Berner's "bear" case, losses will top $4 trillion...
...Politicians, too, need to play a crucial role in restoring confidence, not least by letting us know when and why banks deserve it. There's a snag with that, though: our leaders' own levels of trustworthiness are depressed amid the global downturn. In that ICM poll, the rate of trust in the government to manage the financial crisis was just 4.5 in Britain, similar to the level in France but higher than that of Germany. In the U.S., where citizens were polled only days after President Obama's election, confidence was higher, at 6.3. (See pictures of Barack Obama...
...crisis, while definitely a dark cloud, has a very bright silver lining. "It will affect the peace process obviously, the integration [of former rebels into the army] also. The constitution-making process will be delayed, and the country's economic condition, already serious due to the global downturn, will worsen," says Nihar Nayak, Associate Fellow at the New Delhi-based Institute of Defense and Security Analysis. "There may be street demonstrations, general strikes, road blockades, but no return to the jungle. Whatever action will be taken, will be within the Nepali constitution, and in a democratic...
...country that has become a racial powder keg and has been hit hard by the global economic crisis. "There are parties that are saying that the Roma [are] to blame for the problems in the country," says Orban Kolompar, president of the National Roma Council, who believes the economic downturn will lead to increased support for far-right parties with anti-Roma platforms in both European parliamentary elections this year and Hungarian national elections next. "Voters who are disillusioned [by the crisis] may join them...