Word: lynching
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
Citigroup may soon get all the sleep it needs. Investors are growing increasingly concerned that the global financial behemoth could go the way of Bear Stearns, Lehman Brothers and Merrill Lynch. Shares of the company, which was once the world's largest bank, closed at $3.77 on Friday. The company's board members reportedly met on Friday and will continue to talk over the weekend to discuss the firm's options. There are a number of possible outcomes, not all of which conclude with the end of Citi. "Somehow they need to get the price of their stock up," says...
...outright deflation in the U.S. - and all the risks that entails - is a clear and present danger. "With the unemployment lines growing ever longer, there is a genuine risk that the U.S. economy could fall into a corrosive deflationary phase," says Sheryl King, senior U.S. economist at Merrill Lynch...
...Merrill Lynch economist King argues, it's likely that the deflationary forces will intensify as the result of a vicious cycle. As economic conditions deteriorate, bank lending naturally declines because the number of credit-worthy borrowers - whether corporate or individual - shrinks. In other words, financial institutions that got into their current egregious situation by making bad loans aren't going to recover by making more bad loans. Thus a declining economy leads to contractions in lending, which further dampens demand...
...result, hardly anyone is expecting a big snapback in the first quarter of next year. Then again, nobody really knows what to expect. There's far less consensus among economists about the first quarter than about the one we're in now. Some (Merrill Lynch's David Rosenberg is an example) think it will be even worse than the current quarter. Others (the majority) think it will be better. But none of that means very much, given that economists are close to hopeless at predicting that far into the future in times as tumultuous as these. It's the performance...
...management firm Li and Fung, which sources clothing and other consumer goods for major American retailers and brands, announced this month that it was "undertaking a critical review of its cost structure" and could lay off as much as 4% of its local staff by early next year. Merrill Lynch expects local unemployment to reach 5% in 2009, up from the current...