Word: lynching
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...forecast for China's GDP growth in 2009 is among the most bearish: 6%. If he's right, that would be the lowest rate since 1990. But the data released Thursday did show some unexpected signs of life. Industrial production revived slightly in December, and loan growth surged. Merrill Lynch said in a report that the fourth quarter of 2008 and this current quarter could be "the trough of this growth cycle," as government stimulus and loose monetary policy begin to boost domestic demand. The data gave enough hope to Credit Suisse's Tao to convince him to keep...
...straight months. Profits grew 11%, to $1.2 billion, in the third quarter of 2008 (the company will report its fourth-quarter results on Jan. 26). McDonald's and Walmart were the only two companies in the Dow Jones industrial average whose share prices rose during 2008. Merrill Lynch, which rates McDonald's a "buy," said in a research report that the stock is "in a world...
...Bank of America's purchase of Merrill Lynch could be the ruin of this bank. The bad assets of the brokerage firm were apparently both huge and well-hidden by management, the brokerage firm's board, or the auditors. The most charitable view of the people in charge at Merrill is that they were boobs. Anything beyond that starts to point a finger in the direction of liability and shareholder suits...
...factories, will eventually allow the yuan to depreciate, forcing all other Asian countries to do the same to keep their exports competitive. "If conditions do worsen, then every lever in the Chinese toolkit will be pulled" to muster a recovery, Walker says. Michael Hartnett, an international strategist at Merrill Lynch, recently told TIME that his potential big "surprise" for the world economy in 2009 is a surge of cheap exports from China, "causing some flare-up in terms of protectionism...
...will step in and do what it did for Bank of America (BAC) as its Merrill Lynch unit posted a $15.3 billion loss in the fourth quarter. Citi will also get a program which will guarantee the value of certain bad assets and keep the bank from failing...