Word: loan
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...Still, as the recession drags on, the odds are increasing that more of StanChart's borrowers will struggle to pay back their loans. The bank's nonperforming loans were up 30% in 2008 compared with the previous year. Even though some Asian economies, chiefly China and India, appear to have passed through the worst of the downturn, analysts still doubt StanChart can repeat 2008's performance this year. Brokerage CLSA predicts pretax profit growth will slow to 4% in 2009. Reflecting the heightened risk, Standard & Poor's in late April revised its outlook for the bank to negative. "The biggest...
...financial position has allowed StanChart to take advantage of crisis-created opportunities. As competitors retrench to repair tattered balance sheets, the bank is expanding its market share in key areas such as trade finance. It has boosted lending to small enterprises in Asia at no risk by participating in loan-guarantee programs implemented by governments to free up credit markets. Sands has also continued making strategic acquisitions, including the purchases of Cazenove Asia, a regional stock brokerage, and a 75% stake in another broker in India. Just as important, Sands has been beefing up the management ranks by hiring experienced...
...With annual income from the sale of his and his catalog's music at around $19 million, according to the Wall Street Journal, Jackson was still stretched. When the singer defaulted on a loan in March last year, pushing Neverland into foreclosure, private-equity firm Colony Capital stepped in to bail him out. The 50 concerts planned for London later this year could have netted Jackson as much as $100 million, with a possible world tour to follow generating five times that amount. To Jackson's debtors, if not to the singer himself, that sure would have added...
...most valuable commodities in the world. But despite arguments that legalizing drugs would destroy the organized-crime rings that currently control the market, the report argues that "mafia coffers are equally nourished by the trafficking of arms, people and their organs, by counterfeiting and smuggling, racketeering and loan-sharking, kidnapping and piracy, and by violence against the environment." As Costa said in a statement announcing the report's release, "It is no longer sufficient to say: no to drugs. We have to state an equally vehement: no to crime...
American Presidents have opposed Israeli settlements in the West Bank since Israel conquered it in 1967. But in practice, they've mostly turned a blind eye. In 1991, President George H.W. Bush showed why when he tried to condition loan guarantees to Israel on a halt to settlement growth and stirred up a nasty political hornet's nest in the process. He won only 11% of the Jewish vote the following year. (See pictures of 60 years of Israel...