Word: euros
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Dates: during 2000-2009
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...damage to the British psyche is almost as far-reaching as the impact on the economy. And right now sterling's losing its shine. In the past year, the U.K. currency has lost about a fifth of its value against the euro, the currency used in much of the rest of Europe, and 30% against the dollar. Causes aren't hard to come by. Worries over Britain's fast-shrinking economy, plunging interest rates, a wobbly banking sector and creaking government finances have driven traders to dump the pound. "I would urge you to sell any sterling you might have...
...That feeling of impending doom is speeding the collapse in sterling's value, and prompting renewed discussion about whether Britain should ditch the pound for the euro, which this month celebrated its first 10 years...
Europe now ranks as McDonald's largest region in revenue terms. Although Europe has nearly 25% fewer outlets than the U.S., in 2007 its $9 billion in revenue outpaced the $8 billion generated in America, partly because of a strong euro but also because of consistently higher sales. Given that, McDonald's new European investment strategy seems quite clear: provide its operations in Europe a boost by multiplying the number of restaurants capable of serving clients there. And ironically, a swiftly tightening recession may be the best environment in which that can be done. (See the top 10 food trends...
...Citi was supposed to be a company where it mattered that a wealthy private client in the U.S. was doing business with the same Citi that was trading euro futures in Dubai. This would not have worked even in a world where every manager could see the breadth of the entire company and executives were never territorial. And Citi did not have either of those advantages...
...which are often missing or in short supply in pharmacies and may only be purchased with “convertible pesos”—Cuban currency, equivalent to dollars or euros—used to purchase goods or services at international prices that are quoted also in euro or dollar equivalents. The elderly must also buy food, yet the rationing card covers only about half of a month’s supply of food, so convertible pesos are needed as well. The insufficiency of Cuba’s economic growth helps to explain the hardship that many Cubans...