Word: growth
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...became the first U.S. bank to relocate one of its rising stars, Alberto Verme, an investment banking executive, to the booming gulf state. At the time, Citi CEO Vikram Pandit said the move was a sign that the bank was "convinced of the region's long-term and immense growth opportunities...
...have been a much shorter growth opportunity than Pandit and Citi thought. A few months ago, Verme was reassigned to London (though he has been promoted to ceo of all Citi's business lines across Europe, the Middle East and Africa, and Citi stresses he is "one of its highest ranking executives globally"). Mohammed al-Shroogi, who headed Citi's United Arab Emirates operations, left in September. In late November, Dubai World, which is a for-profit development company controlled by the ruling family of the gulf state, indicated that it may have to default on a portion...
...season to buy that Blu-ray. With Christmas just 10 days away, one sector is emerging as the star of the holiday shopping season: consumer electronics. "We're seeing incredible growth, particularly with netbooks and TVs," says Andrew Hargreaves, an analyst at Pacific Crest Securities. According to the Consumer Electronics Association, 80% of adults say they intend to purchase technology as a gift this year, the highest figure in the 16 years the organization has tracked holiday shopping patterns. On Monday, Dec. 13, Citigroup analyst Kate McShane raised her price target for Best Buy, the country's dominant electronics retailer...
However, many of these proposals are funded through money that is already legislated for use, and, given the economic realities of the moment, encouraging job growth is far more important than fiscal prudence. The government should look to break the grip of the recession and reject calls to curb necessary domestic spending...
Summers also said that he agrees with the predictions of most professional forecasters, who say the economy will once again experience job growth by spring...