Word: slump
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...Begg, a professor at the London School of Economics. In addition, because the large banks have low market share, he says, "in Germany, even if one of the big banks were to go belly-up, it would not be such a threat to the financial system." As the economic slump continues, banks are slimming down. As part of a program to take [EURO] 2 billion off its cost base by the end of next year, Deutsche has laid off 10,000 staff and dumped assets. Last month, it sold its stake in Deutsche B?rse, raising around [EURO] 360 million...
...though he ran a serious challenge to U.S. Sen. Edward M. “Ted” Kennedy ’54-’56 (D-Mass.) in 1994—but he says his fiscal experience qualifies him to lead the state out of its economic slump...
...past five years American companies such as Starbucks, Old Navy and Disney have opened busy stores in Harlem--the historic African-American neighborhood in upper Manhattan that is enjoying a rebirth following a decades-long economic slump. Last month H&M (Hennes & Mauritz), the Swedish chain that specializes in reasonably priced but trendy fashions, became the first foreign apparel retailer to join the migration north from midtown. Says Karen Belva, an H&M spokeswoman: "We're new to the U.S., and to be part of something that's up-and-coming is good for us, imagewise. And our prices...
...every sophomore should slump this well. The Little Friend (Knopf; 555 pages) is a sprawling story of vengeance, with few wasted words, told in a rich, controlled voice that can come only from long effort, which doesn't show ostentatiously on the page. Like History, it's a murder mystery in which the mystery is secondary. Twelve years before the novel begins, Harriet's 9-year-old brother Robin was found hanged in the backyard. Harriet's family--social pillars who have lost their wealth but not their hauteur--have not healed well. Her father has abandoned the family...
...could use a magic formula at the moment. Even though Nelly and Eminem are on a trajectory to sell 10 million copies of their most recent albums, the genre is in a profound slump. Sales are down 24% from the same period last year, and the depression isn't merely commercial. For the first time in recent memory, there's genuine apathy among fans and a sense that the music isn't what it used to be. LL Cool J--whose career has risen and fallen but seldom dipped below platinum--suddenly finds himself the genre's wisest head. "There...