Word: quarterly
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...charge-off rate on credit-card defaults could skyrocket to 10% in 2009 - double the average of 5% over the past 10 years - reaching $18.6 billion in the first quarter and $96 billion by the end of next year, predicts an October report from Innovest Strategic Value Advisors, an investment-research firm. "A 10% [charge-off] rate would be unprecedented," says Laura Nishikawa, an Innovest analyst. (Read "Fannie and Freddie Offer New Plan to Help Homeowners...
...fees and higher interest rates," says Nishikawa. Nonetheless, the industry keeps trying: on Thursday, embattled Citigroup announced that, in addition to 10,000 layoffs, it would impose higher interest rates on some of its 54 million cardholder accounts. Citigroup's credit-card division lost $902 million in the third quarter...
...year. That, the OECD forecasts, will be led by a 1% decline in growth in the U.S., a 0.5% contraction in Europe, and 0.1% downturn in Japan. Evidence to back that projection came with Friday's announcement that economic growth across the euro-zone decreased 0.2% in the third quarter of 2008 - the second consecutive contraction, which puts the region into recession by the most common benchmark...
...Germany's Federal Statistical Office reported that Europe's largest economy had shrunk by half a percentage point in the third quarter, following a 0.4% decline the previous period. The UK revealed a 0.5% slide in GNP over the past three months, while Spain and Italy showed similar contractions. The one small bright spot on the map was France's unexpected 0.14% growth - fueled, just as surprisingly, by a 0.2% rise in consumer spending, and a 0.3% jump in investment outlays by businesses...
...receivers—I think there’s got to be a height minimum.”Held to only 78 yards, the running game was stifled by Columbia’s front line, but the home team was never truly threatened. Taking the lead in the first quarter, the Lions held it for a total of 20 seconds before falling permanently behind.On the other side of the ball, Harvard gave up the most points it has all season, but it capitalized on numerous Columbia mistakes, including three interceptions and a fumble recovery for a touchdown.Boasting the league?...