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...sets a precedent for the next bailout of a large American non-financial company. The government has been able to stay away from completely restructuring banks by providing them with enough capital to work their way through piles of bad assets and tight credit. The process is not over. Major US banks may need tens of billions of dollars more in government assistance when the results of the "stress tests" of bank viability are finalized later this month. The Treasury may tell Bank of America (BAC) that it needs $15 billion in additional capital and the bank may be able...
...revenue, or $5.7 million, from trading in the first three months of this year. That's up from about 35% on average over the past four years. It has yet to be seen whether other firms have upped their trading bets as well. Goldman was the first of the major financial firms to report earnings in the first quarter. Citigroup and J.P. Morgan have said that they, like Goldman, made money in the first two months of the year. So it is likely those firm have increased the amount of risk they are taking as well. If so, the ramping...
Adams' paper is the latest in a number of recent studies that paint a grim fate for the world's forests if warming isn't slowed. A major Science study published in January found widespread increase in tree mortality rates in the western U.S., thanks in part to regional warming trends and growing water scarcity. Another study published last month, also in Science, found that even the seemingly limitless Amazon rainforest could be highly vulnerable to drought. And since living trees suck up CO2 from the atmosphere, massive tree mortality due to warming could produce a feedback effect, further intensifying...
...shares were up 12% at the end of trading Monday, while Satyam shares were up 3%. Also applauding the deal were India's business groups. "The smooth completion of the bidding process for Satyam demonstrates that India has an adequate legal and institutional mechanism for handling and resolving a major corporate crisis," says Harsh Pati Singhanisa, president of New-Delhi-based Federation of Indian Chambers of Commerce and Industry. "With this, Satyam will move for stabilization, its market value will get stabilized, benefiting both its clients, employees and all stakeholders," says Sajjan Jindal, president of the Associated Chambers of Commerce...
...foot shipping containers - in temperature and humidity controlled conditions as part of the long-established Afloat Prepositioning Force, a strategy for storing the tools of war, known as "prepo." The ship will simply sit at anchor in the atoll's blue lagoon and wait, in case there is a major conflict in the area requiring U.S. involvement. This particular project, not the first prepo at Diego Garcia, is scheduled to begin in November and last for five years. Born in the Cold War, prepo proved so successful in speedy delivery of assets during the first Gulf War and again...