Word: isn
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Dates: during 2000-2009
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...billion. Four years later, Beijing budgeted the same amount, $1.6 billion, for the 2008 Summer Games yet spent an enormous $40 billion. London originally planned to spend $8 billion for the 2012 Games; the current estimate is $19 billion and rising. "Once the Games leave town, there often isn't much to celebrate," says Humphreys, noting that host countries nearly always experience a drop in GDP growth in the year after the Games. (See highs and lows from the 2008 Beijing Games...
...news of what turned out to be non-existing restrictions spread around the Web? Blame Wikipedia's fractured organization. Policy decisions are made by a community of volunteers, and the foundation that runs the site isn't always aware of the specific rules that the group might adopt. When told about Wales' narrower view of the new policy, Jay Walsh, a spokesman for the nonprofit, was surprised. "This is the first I've heard of it," he said in an e-mail. Indeed, even the foundation's blog reported that the restrictions would apply broadly to all entries on living...
...beleaguered U.S. dollar isn't getting much love these days, except from one small but powerful group: deep-pocketed institutional traders, who are piling into dollars with ever greater enthusiasm because it is so weak and cheap to borrow. "Dollar borrowing picked up steam after the G-20 summit {that ended in Pittsburgh on September 25} when traders concluded that interest rates in the U.S. were going to stay low for a long time," says Mark Matthews, chief Asia strategist for Fox-Pitt Kelton Securities. Adds Olivier Desbarres, a currency strategist for Asia with Credit Suisse: "Hedge funds, pension funds...
...Geoffrey VanderPal, a certified financial planner and chief investment officer at Skyline Capital Management in Austin, says he isn't surprised by the survey's results. "Most of my clients are cautiously optimistic," he said, although most are expecting a double-dip in the economy before the real rebound comes...
...HSBC isn't completely turning its back on the West. Green, the chairman, will remain in London, as will HSBC's official world headquarters. Yet HSBC's return to Asia is still an important signal of where the bank and the world economy believes it will find new growth. "The self-styled 'world's local bank' is realizing some locales are more important than others," noted an editorial in the South China Morning Post, Hong Kong's largest English-language newspaper. "It has taken an extraordinary financial crisis for the bank to see that its future lies where its roots...