Word: shores
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...needs a boost. Its stock price tanked in September, along with the economy. We won't know whether the Storm will shore up the company's earnings until the device goes on sale. One mystery remains: the device's price, which is about the only detail that RIM and Verizon have yet to reveal. Let the rumors swirl...
This week's moves fit the pattern. But they also show just how far the crisis has spread. The decision to shore up commercial paper will allow companies that are unable to borrow money from either the shadow or the real banking system to have access to the lender of last resort (the government), ensuring that credit still moves in the system - hopefully. And the $700 million program Paulson is steaming ahead with will allow for the clearing of bad loans, and inevitably the orderly failure of companies that invested too heavily in them...
European bank stocks continued to take a beating on Tuesday following a series of ad hoc steps by national governments to try to shore up confidence in financial institutions. By the day's close, Britain's troubled HBOS was down 41.5%, and the Royal Bank of Scotland's shares had lost 39% of their value; Germany's Commerzbank fell 14%, and Deutsche Bank was down 8.9%. The pummeling followed a black Monday in which stock exchanges across Europe dropped as much as 9%, suggesting that the markets were casting a doleful eye on the $700 billion U.S. bailout package passed...
...German officials say the guarantee was necessary to shore up confidence, not least because Germans hold a higher proportion of their savings in banks than citizens in many industrialized nations - and they still harbor a deep collective memory of the perils of economic uncertainty from the interwar years of the Weimar Republic. "We had to do it," says Reinhard Schmidt, a professor of international banking and finance at Goethe University in Frankfurt. "I have friends. I have neighbors. I have family. You wouldn't believe how many people have been calling me to ask about their deposits. The fears...
...Which still leaves the problem of how to address the broader crisis now that the country-by-country approach appears to be failing. Gros recommends a common European scheme to shore up capital of distressed banks and the establishment of a "clear center of joint responsibility for the supervision and liquidity support of cross-border European banks," which he says should be housed in the European Central Bank. (At present, the chief tool available to the ECB is lowering interest rates...