Word: loan
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...into disaster," said one worker clocking off at Fiat's Mirafiori plant in Turin. The heirs of Fiat (the family controls 34% of the stock) inherit a desperate company. Fiat Auto lost j1.35 billion last year, and the parent company was forced to string together a huge j3 billion loan just to keep operating. At least j3 billion in additional capital will be needed, according to analysts. Fiat recently announced a plan to cut at least 8,000 jobs, provoking bitter workers to block airports, roads and factories. In Agnelli's honor, though, workers have postponed several stoppages planned...
...knowledgeable source tells TIME the alliance was created by the p.r. firm to disguise the role of the Saudis, who pay Qorvis more than $200,000 a month for its services. In a footnote to its Justice report, the firm said Riyadh helped fund the ads with a loan to the alliance, which was later repaid by a council representing Saudi business interests. But the source tells TIME most of the "repayments" came from businesses controlled by or close to the Saudi government and were solicited by Adel al-Jubeir, foreign-policy adviser to the Crown Prince and architect...
...second part of the plan unveiled Wednesday will create a new low-interest loan program...
Graduate students across the University will now be eligible for the Harvard Educational Loan Program, a partnership with Citibank’s Student Loan Corporation offering student loans at below-market rates—currently set at 4 1/8 percent...
Along with the new scholarship and loan programs, Summers promoted Wednesday the recently-created University Graduate Student Aid Fund, designed to solicit donations for graduate student financial...