Word: paring
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...billion slim ones. "Everyone is catering to the top of the pyramid," says the 68-year-old at his office in Bombay House, Tata group's elegant Edwardian headquarters in India's business capital. "The challenge we've given to all our companies is to address a different market. Pare your margins. Create new markets." The Tata group's global clout means its chairman's thoughts on the world economy are worth listening to. The group comprises 96 companies, including the world's second largest tea business (Tata Tea); Asia's largest software firm (Tata Consultancy Services); a steel giant...
...they were in the clear. But others weren't chancing it: organizers postponed an Internet gaming conference scheduled this week in Las Vegas, blaming execs' jitters over landing in the U.S. Still, not everywhere is off-limits. Gibraltar-based PartyGaming, the world's biggest online poker operator, pledged to pare down its reliance on U.S. punters; some 46% of its new poker players came from outside the U.S. in the three months to July, double the share a year earlier. In its sights? The legions of gamblers in China, Japan and the rest of Asia. The firm won't reveal...
...billion slim ones. "Everyone is catering to the top of the pyramid," says the 68-year-old at his office in Bombay House, Tata group's elegant Edwardian headquarters in India's business capital. "The challenge we've given to all our companies is to address a different market. Pare your margins. Create new markets...
...whole lot worse. Like many markets, India has been badly rattled by fears that the U.S. Federal Reserve and other central banks will keep raising interest rates to fight inflation. That could cause global economic growth to slow precipitously--a worry that's causing edgy investors to pare their exposure to Indian stocks. Marc Faber, a renowned emerging-markets investor based in Hong Kong and Thailand, expects a further fall in the next six months as that uncertainty deepens. "In the near term, you have to be cautious," he warns...
...gushing reviews come after several years of negotiations in which the Pentagon has sought to pare down its larger presence on bases in Western Europe in exchange for smaller outposts, or a "lighter footprint" as one Pentagon official said, in the new democracies of Eastern Europe. The new bases have the virtue, in Washington's view, of being both more flexible and closer to current hot spots in the Middle East and Central Asia. Romanians are also, for the most part, happy to see more U.S. boots on the ground, which would not be true of U.S. allies in Western...