Word: nomura
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...economists said the country is likely to keep its foot on the gas to ensure the recovery doesn't falter. On Wednesday, the State Council, China's cabinet, said it would focus on achieving a balance between promoting growth, rebalancing the economy and "managing inflation expectations." Nomura economist Mingchun Sun argues that because the State Council's statement emphasized "expectations," rather than inflation itself, the government doesn't believe inflation is a major risk and will maintain a loose monetary policy in the near future...
...jellyfish - of the kind that Katija studied - are drawing the attention of other scientists and policymakers. Such blooms, thousands strong, are becoming increasingly common worldwide, in part due to the overfishing of jellyfish's natural predators, including anchovies, sardines and herring. In the Sea of Japan, for example, the nomura, jellyfish that grow up to 6.5 ft. (2 m) in diameter and weigh more than 400 lbs. (180 kg), have proliferated, and a recent study by Hiroshima University researchers has warned that another big bloom is expected this summer...
...Lehman Brothers didn't just collapse and go away. Much of its U.S. operations were bought by British bank Barclays, which retained 80% of Lehman's U.S. investment bankers. Japanese bank Nomura has also been hiring here. Alan Schwartz, who was formerly the head of the failed investment bank Bear Stearns, recent landed a job at one of Wall Street's so-called boutiques, Guggenheim Partners. He's not alone. Recruiters say not only was the job downturn in the financial industry shallower than the rest of the economy but it appears to be turning earlier as well...
...ratio of 24.8. This is a worrying multiple: the leverage of U.S. banks in 1993, years before the start of the asset bubble whose excesses have now brought the world to its economic knees, was just 20. To bring leverage back to that pre-bubble level, Nomura estimates that U.S. banks need to either shed $2.8 trillion in tangible assets (by selling loan portfolios, subsidiaries and other holdings) or else raise $141 billion in new capital...
...money to buy them? Nomura found that Asia's banks are significantly underleveraged, meaning they have plenty of muscle for acquisitions. China's leverage ratio is 15.8, Hong Kong's is 14.3, India's is 11.6, South Korea's is 16.7. Having gone through rehab after the 1997 Asian financial crisis, the region's financial institutions went into the current Great Recession with robust balance sheets that they can now leverage up by acquiring the assets that Western banks are shedding. China's banks are in a particularly sweet spot. Grown fat on years of sizzling GDP growth, Bank...