Word: downwardly
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...After a final push downward last October, most rates bounced back so quickly that many consumers couldn't seize the moment. Now rates are even lower than they were last autumn, and they may be headed lower still. Lehman Bros., Goldman Sachs and Deutsche Bank all predict that the benchmark short-term federal-funds target rate - at just 1.75% - will go to 1% by the end of the year as Fed Chairman "Sir" Alan Greenspan (soon to be knighted for his role in the global economy) dons armor against the double-dip recession dragon. A quarter-point cut could come...
...also taking a clobbering because of their exposure to Brazil. Over the past 10 years, Spanish firms have poured more than €50 billion in Brazil - double the amount invested in Argentina - particularly across the telecom, banking and energy sectors. But the Brazilian real has gone into a downward spiral - the currency has lost one-third of its value since April - and taken some Iberian earnings along for the ride. Last month, Spanish giant Telefónica cited currency woes as a reason for its reported 23% fall in Latin American revenues in the first half of 2002. Last week...
...concept of pre-emptive strikes is very scary. If the U.S. says it will attack first, what would stop others from doing the same to us? This could result in a downward spiral to death and destruction. This Bush doctrine, like some of his others (withdrawing from the ABM Treaty, development of a space-based missile-defense shield), will make the world not a safer place but a more dangerous one. DAVID ATWOOD Houston...
...Sources say her assistant has signed an affidavit revealing that Bacanovic, who was also Stewart's broker, called Stewart's office between 10 a.m. and 11 a.m. on Dec. 27, shortly after Aliza's shares were dumped, and left a message that "ImClone is going to start trading downward." Stewart called Bacanovic's office at 1:30 p.m. Her stock was sold 10 minutes later, sources say. Stewart has denied that she engaged in any improper trading...
...Sources say her assistant has signed an affidavit revealing that Bacanovic, who was also Stewart's broker, called Stewart's office between 10 a.m. and 11 a.m. on Dec. 27, shortly after Aliza's shares were dumped, and left a message that "ImClone is going to start trading downward." Stewart called Bacanovic's office at 1:30 p.m. Her stock was sold 10 minutes later, sources say. Stewart has denied that she engaged in any improper trading...