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...sale of 50% of the company's Smith Barney brokerage division to Morgan Stanley. Take that out as well as some other onetime events, and CreditSights' Hendler says the company actually lost 70 cents a share, or about 30% more than it did in the same three-month period a year ago. (See the top 10 bankruptcies...
...according to Bernstein's McDonald. Then there's the issue of talent loss. As Citigroup's troubles have continued, the bank has begun to lose executives to rivals. The most notable departure thus far is Ajay Banga, who headed the bank's Asia Pacific operations. He left Citigroup last month for MasterCard...
...fact, despite the challenges he has faced this month and his looming lame-duck status, Hu may actually be at the height of his power, says David Zweig, who teaches political science at the Hong Kong University of Science and Technology. "It takes any new party secretary four to five years just to get the party under control after he takes over," Zweig says. "Having appointed many of his stalwarts to senior (posts), Hu is now probably in a position to exert considerable influence on decisions even after he steps down in 2012 through his control of the Organization Bureau...
...Then in mid-month came reports that Nuctech, a company whose CEO was until last year the President's son Hu Haifeng, is the focus of a corruption investigation in Namibia. Investigators in the African nation have reportedly requested that the 38-year-old Hu testify as a witness (though not as a suspect) in a probe into how a lucrative government contract was won by Nuctech, a maker of security-screening devices used in airports and seaports. News of the investigation is so sensitive in China that tight controls imposed on the Internet have been tightened even further. Chinese...
...glaring given the initial assumptions, in both Brussels and Sofia, that E.U. accession would lock in the reform process, pulling Bulgaria into the European mainstream. But the country is still plagued by corruption, gangland violence and feeble law enforcement. The system's failings were all too visible earlier this month, when two men indicted for running a criminal mob involved in racketeering and extortion were freed on bail to run as candidates in the parliamentary elections...