Word: recessional
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See 10 big recession surprises.
In economic downturns, law firms have come to expect litigation activity to increase even while transactions decrease in a recession. But the magnitude of this recession—the worst since the Great Depression—has nullified this conventional wisdom, leaving firms scrambling to cope.
Across the country, state governments are grappling with how to sharply trim budgets amid the worst recession in decades. But nowhere is that debate more intense than in Michigan, where officials are scrambling to close a $2.8 billion deficit and avert a government shutdown at midnight on Wednesday.
But now HSBC has realized home is where the heart - and the money - is. On Sept. 25, HSBC announced that its chief executive, Michael Geoghegan, will relocate his office back to Hong Kong in February, 2010. The decision is yet another sign of the growing economic influence of Asia. Calling...
In some ways, HSBC is simply reacting to global trends and economic realities. HSBC's announcement coincided with the G-20 summit in Pittsburgh, during which it was decided that the group, which includes developing giants like China and India, would replace the West-dominated G-8 as the top...