Word: slide
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Commentators in Europe point out that the dollar's continued slide against most international currencies has largely been fueled by domestic American factors - notably the credit tension and business failures in the wake of the subprime crisis, and wider signs that the U.S. has or is entering into recession. But plummeting investor confidence in the American economy has only accelerated the greenback's erosion, which in a little over two years has depreciated from $1.1826 per euro in January, 2006 to Thursday's $1.56. The result is that products manufactured by companies paying euro-fixed salaries and supplies wind...
...Austria - where enormous pressure on salaries and production costs have made goods and companies more competitive in recent years - the rise of the euro has been less catastrophic, though only in relative terms. Whereas Germany has watched the plummeting dollar eat at its healthy trade surplus, France blames that slide for worsening its growing trade deficit. The consequences have been similar in both countries: as BMW warned that the 5,600 jobs it was eliminating as part of a cost-cutting plan would increase if the euro surged substantially beyond $1.50, plane maker Dassault said it might have to follow...
Central banks are supposed to "lean against the wind." Monetary policymakers increase overnight interest rates when strong growth is threatening to push up inflation, and they reduce rates when economies begin to slide into recession and deflation. But what to do when the wind is a cyclone? That is the question confronting the U.S. Federal Reserve, the European Central Bank and their counterparts as the financial storm spawned by U.S. subprime mortgages continues to wreak havoc across credit markets. The resulting higher borrowing rates and tighter credit standards threaten to pull the U.S. economy into recession...
...then there's An Inconvenient Truth. Al Gore's 2006 slide-show passion project made $24 million at the U.S. box office--no threat to Harry Potter but a blockbuster for a documentary. Covered in newspaper style pages and on entertainment shows, it received more than four times as much media attention as the 2001 Intergovernmental Panel on Climate Change report, which, shockingly, was overlooked by E! More than 1,000 people in the U.S. were trained to give Gore's presentation, 110,000 teachers downloaded a curriculum, and the movie became part of the syllabus in some schools...
...uncontested Ivy League crown for the first time in school history.Her absence on Saturday night is befuddling, almost unfathomable. Imagine LeBron bowing out before the Cavaliers take the floor to try to clinch a playoff spot. Or Matt Holliday staying home instead of making the game-winning slide that sent the Rockies to the NLDS.How could Cornell’s biggest star—and biggest difference-maker—head home after the Big Red fell to Dartmouth on Friday and before facing a veritable title game against Harvard on Saturday?Perhaps she made the decision a long time...