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...economy has moved to the waiting room. There are unlikely to be many very important indicators until July. The rate at which unemployment is rising is supposed to slow. If so, May should be the last month that the figure can rise by more than 500,000. If June is much worse, then the recovery is hardly taking hold. Second quarter earnings for banks will have to be relatively strong or the hope of a rebound in the sector, which the "stress tests" indicated is possible, will dwindle. Investors may begin to think that the test criteria were too liberal...
...authors of the Science paper based their findings on early data from the H1N1 outbreak, estimating that about 23,000 people had been infected in Mexico by late April, with a fatality rate of about 0.4%. Those numbers come with a wide margin for error on either side, and there are still holes in the epidemiology that need to be filled, but the consensus is that the WHO's handling of H1N1 was reasonable. "Our research indicates that the WHO was justified in its actions in the early days," says Christophe Fraser, an epidemiologist at Imperial College and the lead...
Smith said it would have been difficult to plan the cuts earlier, since the Harvard Corporation—the University’s chief governing body—did not announce the eight-percent reduction in the payout rate until March...
...touring the sea aboard the hotel's boat. The rooms may be on the small side, but the well-appointed lounge, with contemporary art, a fireplace and views of the bay more than make up for it. The restaurant has a gourmet tasting meal that, given the favorable exchange rate, isn't out of reach. Room rates start at $188 per night; the tasting menu starts at $64. IS-365 Snaefellsnes, Iceland; +354-435-6700 (See pictures of luxury private islands...
Being rich during a recession can almost be as bad as being poor. The only difference is that the rich have more to lose. RealtyTrak, a research firm that follows mortgage trends, recently reported that the foreclosure rate on homes valued at more than $729,750, also known as the jumbo-mortgage limit, rose 127% in the first ten weeks of this year compared to the same period a year ago. Bloomberg, reports that "about $500 billion of prime-jumbo mortgages are bundled into bonds, according to Memphis, Tennessee-based FTN Financial." The default rate on those bonds may rise...