Word: recentering
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...days since the bank boasted of its profits, the company's stock has fallen nearly 10%, to a recent $2.80. Shares of rivals Goldman Sachs and JPMorgan - both of which also produced profits in second quarter - have risen in the same time. (See 10 things to buy during the recession...
...Moreover, a look beneath its recent earnings report reveals that Citi is still struggling to extricate itself from the credit crisis. All of Citi's profits and then some in the second quarter were the result of a onetime gain on the sale of 50% of the company's Smith Barney brokerage division to Morgan Stanley. Take that out as well as some other onetime events, and CreditSights' Hendler says the company actually lost 70 cents a share, or about 30% more than it did in the same three-month period a year ago. (See the top 10 bankruptcies...
...power. This modus operandi is becoming all too common in Africa - think Kenya - and is leading to a great deal of bloodshed. Ian Khama, the President of the oldest democracy in Southern Africa, Botswana, has denounced power sharing as a means of keeping losing parties in power. In a recent interview, he said: "If a ruling party thinks it's likely to lose, and then uses its position as a ruling party to manipulate the outcome of the election so that it can extend its term in power, [it is] not the way to go ? this power-sharing thing...
...said the panel would attempt to "look at the situation in its totality," try to provide a factual basis for what transpired, and give recommendations for improvements within the department when faced with similar circumstances in the future. Nevertheless, Haas said that the Department had been "deeply pained" by recent criticism of the police's handling of the incident—including from President Barack Obama—and added that the department took its professionalism seriously. He said that such attention is "not the kind of notoriety we want to come to this city," and maintained that Sergeant James...
...rebound. But just as easily, Asia could soon find itself saddled with overheated markets similar to the U.S. housing market of a few years ago - and on the brink of another crash. "The seeds are being sown for Asia's next bubble," HSBC economist Frederic Neumann said in a recent report. "The world has not changed, it just moved places." (Read "Asian Nations Step Up Support as Crisis Rolls...