Word: slow
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...More bad news has been streaming across the Goyal's Sony over the past few weeks: India's economic growth rate is expected to slow from 9% to 8% or even less; unfounded rumors that the country's largest private bank, ICICI, had been caught in the subprime mess nearly caused a bank run; Jet Airways, the largest domestic airline, is laying off hundreds. Not the cheeriest atmosphere for a wedding. Goyal is getting married in two months. "I wanted to go to Singapore for our honeymoon, and buy a new car. It's ta-ta to those dreams...
...quick, it will mean the European economy will be much better placed to rebound on a healthier footing. But curtailing credit would hurt consumers who are deep in debt, and would have serious consequences for retailers and others dependent on household spending for their livelihoods. If the deleveraging is slow, the economy could remain sluggish for several years, weighed down by debt levels. "It was transfusions of credit that made the economy buoyant, but if there's no growth from credit now, what will support the economy in the longer term?" worries Véronique Riches-Flores, chief European economist...
...Sagra, they first felt the pinch months ago. "Construction started to really slow in February or March, with the subprime crisis in the U.S.," says Duque, "and that's when the brick warehouses started to fill up." Many brick works in the area closed over summer, but things have hardly improved since then. Duque says most of the brick companies in La Sagra have suspended workers temporarily in a program that allows them to receive unemployment benefits for three months and then return to a guaranteed job. With the financial meltdown adding to Spain's troubles and the country...
...emergency mental-health center in downtown Reykjavík to help citizens distressed by the country's economic implosion. Located on the second floor of an old health clinic, it stands ready to treat a torrent of mentally anguished Icelanders. As yet, business has been slow. Dr. Ragnar Ólafsson, one of two full-time psychologists assigned to the clinic, was savoring a sandwich alone in his office a few days ago. "Not many people have come so far," he says...
Despite being around for five years, B. Good hasn’t been very popular with the Harvard crowd. But Olinto isn’t worried: “It’s a slow evolution, and it takes time to convince people you’re worth their loyalty,” he says...