Word: fiscal
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...grade” status. But this was a small reward given the shift the country has experienced since 1994. Brazilian government bonds remain too cheap (currently paying over 500 basis points above the 10-Year Treasury). Charging a sky-high political premium to a country that has had a fiscal revolution, and where Daniel Dantas can be arrested through due process of law, seems to be rather exaggerated. The bonds’ inadequate BBB-rating—barely above speculative status — contributes to this mispricing. But, of course, this grade was given by the same agencies that...
Chetty’s appointment comes in the midst of an unprecedented fiscal crisis for the University. Faculty of Arts and Sciences Dean Michael D. Smith has told departments to continue with faculty searches only if the quality of the candidates is high...
Citing a projected 30 percent drop in the University’s endowment value this year, the deans wrote that the cost-cutting measures followed from a need to reduce the budget for the next fiscal year to levels at least $105 million below the current year’s budget. The Faculty’s budget for the fiscal year beginning on July 1, 2009 is set to be completed by March...
...Merkel snub dominated the concluding press conference, Sarkozy reacting angrily to a question from a British journalist about a schism with Merkel. Countries had at their disposal a tool kit of fiscal stimulus options, said Sarkozy, manically shredding a piece of paper as he spoke. "Gordon Brown used the tax tool. The fact that I didn't use the tool doesn't mean we disagree...
...erroneous information released by Harvard Medical School, the Dec. 8 story, "HMS Plans To Cut Most Budgets," misstated the school's operating budget. For fiscal year 2007, it was $550 million, not $798 million...