Word: slashed
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...railway, which it privatized in 2001 - a decision it now regrets. Plans to sell the state-owned energy company collapsed in 2002 when the acquiring U.S. firm couldn't obtain financing in the wake of Enron's bankruptcy. Estonia went through a brief recession and the government had to slash spending when Russia's financial crisis hit in 1998. The birthrate collapsed in the 1990s and has only now begun to turn upward again, helped by incentives including 15 months' maternity leave on full pay. And while the nation has prospered by linking its currency to the German mark...
...Number of U.S. jobs Ford Motor Co. is cutting--29% of its North American workforce--by 2008 as part of a plan to slash $5 billion in costs...
...this rattle Mulally? "I think it's a tough situation," he says, adding that he thinks the company has a strong lineup of cars and trucks in the pipeline. But he also downplays any suggestions that he'll be Motown's Chainsaw Al - a guy who'll try and slash and burn his way into the black. "A momentum shift is how I'd characterize it," he says. Whether he'll shift Ford into a profitable gear remains to be seen...
...propensity to hold cash," says Scott of BCG. "That was why private banking didn't take off for a long time in Asia." But several economic shocks?including the tech-stock crash of 2000 and the 9/11 terrorist attacks the following year?prompted the world's central bankers to slash interest rates in an effort to revive economic growth. With returns on savings deposits falling to around 1% (or even lower in Japan), Asia's wealthy were roused to seek alternatives. Today, they tend "to expect a lot more return from their investments" than investors do in other regions, says...
...transformed with Egypt's gradual implementation of economic reform, notably since 2004, when Prime Minister Ahmed Nazif took office in a Cabinet that included leading ex-businessmen. Sallam, who retains a 52% stake in the company, credits the government's moves to devalue the Egyptian currency, reduce tariffs and slash corporate taxes with enabling Olympic exports to take...