Word: slowdown
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...normal cyclical slowdown, lowering interest rates encourages fresh business activity by reducing the cost of borrowing from banks. With more borrowing comes more investment, more jobs and more growth. But these are far from ordinary times. Banks, already burdened with bad consumer and commercial debts, are desperate to clean up their balance sheets and avoid risk - they are not eager to take on more risk by issuing new loans against the backdrop of a deteriorating business climate. American consumers, too, are trying to reduce household debt, so borrowing more money for a new car or to remodel the kitchen...
...migrating from grocers like Albertson's and Whole Foods to deep-discounters like Aldi and Save-a-Lot. And it's not just retirees like Chernova. These spartan bastions of private-label goods are looking a lot better to a broad range of shoppers. "Prior to the economic slowdown, we were prospering. But now we're seeing customers looking to save money, and our foot traffic has increased," says Jason Hart, president of Aldi US, based in Batavia, Ill. "There seems to be more demand for our stores, and people don't want to sacrifice quality." Aldi arrived...
...That helped drag down the Kospi index by 9%, bringing the total loss for the week to 17%, the South Korea market's worst showing since 1997. "It seems that in the last two weeks, it has dawned on investors in Asia that no one is immune from the slowdown that is to come," says Daley...
...course, as seasick investors watch stocks bound up and down, pounded by the day's news, and often, it seems, for no discernable reason at all. In the first few minutes of trading on Friday, stock indexes dropped 5% as the double whammy of deleveraging and a worldwide economic slowdown continued to buffet company shares...
...Another worry is looming for OPEC officials: A possible slowdown in China, whose soaring economy this decade has sent oil prices rocketing, and helped to ignite a scramble for new oil exploration and drilling in numerous developing countries from Ecuador to Angola, whose economies have surged along with the oil prices. "OPEC needs to see China maintain its rate of growth," Robert Johnston, energy director for the Eurasia Group in Washington said before the OPEC meeting. Without China's continued thirst for new oil, OPEC production cuts will have a limited impact...