Word: move
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...move seems to have worked. Fifth Third says the cash payments were enough to persuade holders of more than $550 million in preferred stock to convert their shares to common. Add that amount to the more than $600 million Fifth Third had left from its stock offering, and bingo: Stress test passed - over $1.1 billion in new common equity. The problem is the money Fifth Third paid to preferred shareholders to convert to common equity will also end up depleting Tier 1 capital - a measure of total bank resources, not just common equity - by $365 million...
...attended last year's gathering, which jointly commemorated Sichuan earthquake victims). Only in Hong Kong are the killings still openly observed and debated by large numbers - a tribute to its unique status as China's freest society, and a reminder of the widely held view that China can truly move forward only when the 1989 protesters have been rehabilitated. "We have been China's conscience," said journalist Ching Cheong, who quit a pro-mainland Hong Kong paper in 1989 in protest against the crackdown...
...expect in a country racing at breakneck speed towards modernity. Africa is trying to cover in a few decades what took Europe centuries. Chaos and contradiction - Kenyans are just as comfortable with cell-phone banking as they are with bartering - might be an indication of a country on the move. Kenya is changing. Last year's violence hastened the emergence of a highly critical civil-society movement which has become a sobering force in Kenyan politics. And even a pessimist would have to admit that the unity government has disbanded the discredited election commission, set up a committee of experts...
...simple idea that is not that simple to execute. At George Washington University, housing director Matt Trainum helps run a Green Move Out program that collects food, clothes and other goods to give to local charities. Bins are placed in the lobby of every residence hall, and student volunteers help sort through the piles. This year - the program's fourth - they have collected about 53,500 lb. (24,300 kg) of donatable goods, much of which would have gone straight into the trash in days of yore...
Sixty-five years ago today, 135,000 allied troops launched the largest seaborne invasion in history on the beaches of northern France, a move that would eventually decide the outcome of World War II. On Saturday, Obama stood with the leaders of Great Britain, France and Canada on the beach where nearly 4,000 of those men died in a single day, to praise what he called the "clarity of purpose with which the war was waged." (See TIME's video of D-Day's iconic photograph...