Word: low
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...women who slip into an alternative dimension sometime after their fortieth birthday. It works the same way with men in this city. You think you're talking to a college student, what with his rock 'n' roll T-shirt, his skateboard, his bong collection, and his extensive knowledge of low-fi British indie music, then you find out he's fifty-eight, with six kids and three percent of Google. What do these people do to themselves?...When I tell people my age in L.A., they can't believe it. But you look so much older, they try hard...
...Today, almost alone in the world, China's state-owned companies are still cash flush. Crucially, though, they have learned a basic - and expensive - lesson about investing abroad. As a result, the 'Go Out' strategy has been tweaked. It might now be better called the 'Buy Low' campaign, and in one of the markets that Beijing has long had in its strategic sights - Australia's vast metals and minerals industry - it is now unfolding. (See pictures from the Beijing Olympics...
...Minerals have been crushed by the global recession's effect on demand for what they produce. Both have seen their value plunge as a result, and now labor under enormous debt burdens. Rio's stock price peaked at $552 a share last spring, then fell to a 52 week low of $55. The stock last traded at $112 on the New York Stock exchange. Oz Mineral's stock price hit AU$0.55 when trading was suspended in December. Minmetal's will pay a 50% premium on that. Clearly, for China - whose voracious appetite for metals and minerals drove commodity prices...
Faced with ubiquitous signs of global economic meltdown, investors sold stocks in force on Tuesday, dragging the broad market indexes down near the lows reached last November. The Standard & Poor's 500 index, weighed down by financials, fell 4.56%, while the Dow Industrials sank 3.8%, falling to within a fraction of its November 2008 low. Among the hardest hit sectors were bank stocks, down 10%, oil service stocks, down 8.2%, and semiconductor stocks, which fell 6.7%. Gold Mining was among the rare winners Tuesday, with the industry group rising 2.5%. (See pictures of the top 10 scared traders...
...Following World War I, new technology made farms more efficient, creating large crop surpluses, low grain prices, and slim agricultural profits. Farmers suffered the fallout, convincing Roosevelt’s future advisers that capitalism had failed and only government could prevent further hardship. A decade later, these professors-turned-bureaucrats saw the bogeyman of the 1920s as the cause behind the Great Depression: an unregulated market...