Word: hoverer
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...satire aside, Thailand's leadership crisis is derailing what once was one of the region's most promising economies. Political street violence in Bangkok has claimed several lives over the past couple months, and spooked investors and tourists, on whose dollars Thailand depends. Growth forecasts for 2009 hover at a bleak 3%. But even as these troubles mount, neither the government nor the opposition appears willing to give ground. Somchai has refused to resign, and the PAD vows to keep up its campaign even if it means further tarnishing Thailand's reputation as a stable democracy. Further complicating matters...
...panicked consumers, and Wachovia went from a possible buyer of Morgan Stanley to being acquired itself by San Francisco-based Wells Fargo. The rush to build new homes has created a housing glut, and several of the construction cranes that had come to symbolize the city's growth now hover over stalled projects...
...Some optimistic forecasts show GDP growth slipping until sometime in the latter part of 2009, when it is expected to inch upward again. But even an uptick in broad economic indicators after next year is unlikely to ease unemployment. The high unemployment rates taking shape now are likely to hover near record levels for some time, because economic recoveries in recent decades have tended to go forward without generating many jobs...
...sunny October afternoon, the normally teeming streets of the fashionable district of Nisantasi are oddly quiet. The occasional tourist couple wanders by. Behind elegant windows advertising new autumn collections, plush stores like Hugo Boss, Louis Vuitton and Armani are empty. Groups of sales attendants hover nervously by the entrance. "Business is terrible," says the director of one popular U.S. luxury label. "We hoped it would pick up after Ramadan, but it hasn't. Nobody wants to lose face by officially going on sale in October because it's unheard of, but in-store most labels are offering...
...Australia slightly slumped. Inspired by that trend - as well as Wall Street's rebound from early losses Thursday to finish 4.7% up - European markets began Friday higher with London's FTSE 100, Frankfurt's DAX, and Paris' CAC 40 all by more than 4% - before receding by midday to hover just above opening levels...