Word: sectoral
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...this point, the troubles in the sub-prime sector seem unlikely to seriously spill over to the broader economy or the financial system." - in a speech on June 5, 2007 just months before the economy and stock market began to tumble as a result of the sub-prime mortgage crisis (New York Times, August...
...Internships Program’s effort to allow students to speak to people with careers in politics and public service. The Office of Career Services co-sponsored the event. “I don’t see a lot of immigrants in the public service sector,” said Y. John Mei ’12, pointing to the similarities between his own background and Chao’s. “Therefore, it is particularly refreshing to see someone like her.” Chao, a graduate of Harvard Business School, has gone from being a banker...
...recovery was aborted in the late 1990s when, at the first sight of green shoots, the government raised taxes. President Barack Obama is committed to reducing this year's federal budget deficit of $1.3 trillion by half in four years. That's a laudable goal - as long as private-sector demand has picked up by then...
Asian leaders and policymakers for years have recognized the need to reduce their dependence on exports. Now that need has become urgent. Export-led Asian countries must diversify their economies by promoting domestic consumption, expanding service sectors and strengthening and extending trade links beyond the U.S. and Europe. Some moves are already under way. Shortly after South Korean President Lee Myung Bak took office last year, he launched a program to improve the service sector by increasing financial aid to targeted businesses and reducing red tape. Singapore is making strides in attracting biotechnology and private-banking businesses to the city...
What appears to make little sense is that the rally spread to firms that have nothing to do with the financial and banking sector. Intel (INTC) rose 11%. PC sales are still expected to plummet this year. Shares of TIME Warner (TWX) soared 13%. The company's studio released Watchmen, which was No.1 at the box office over the weekend but since TWX is in several large businesses beyond films the increase is inexplicable...