Word: slumped
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...Ghosh, a veteran postcolonialist. He instead depicts India as it most likely was under the thumb of Britain's East India Company. Its once bounteous countryside is now run by Company edict, with farmers ordered to grow poppies to feed colossal opium factories, in whose noxious environs even monkeys slump in "a miasma of lethargy." Their fields given over to drug cultivation, thousands of starving, impoverished villagers leave for new pastures as indentured labor in Mauritius, a place so remote that it is thought to be a "demon-plagued land...
...companies, not foreigners. On Thursday, for example, Beijing's CIC announced it would make investments in three of China's biggest commercial banks - Industrial and Commercial Bank of China, Bank of China and China Construction Bank - that themselves are getting hurt by an economic slowdown and a real estate slump at home. "This is a significant policy initiative aimed at supporting China's leading financial institutions at a time of global turmoil," says Jing Ulrich, chairman of China securities at JPMorgan in Hong Kong. It's another way of saying to CIC's Gao Xiqing, If you come home from...
...early election--the third national vote in four years. A ballot had been scheduled for 2009, but analysts said the new Oct. 14 date benefits Harper's Conservative Party by getting voters to the polls before they can be influenced by the outcome of U.S. elections or a continuing slump in the economy...
...worst housing slump since the Great Depression--prices are down 18% since mid-2006, according to the S&P/Case-Shiller national index--has made once safe mortgages look perilous and Frannie's capital cushion look alarmingly skimpy. In July, in another of his Sunday bombshells, Paulson asked Congress for the authority to do (and spend) whatever it took to keep the companies from going under. He soon got what he wanted, and he said he hoped that alone would be enough to see them through. But after taking a closer look at the exact state of their capital reserves and watching...
...Worse still: the slump comes just as a rash of new office developments hit the market. With more than 7 million sq ft (650,000 sq m) of speculative office space coming online in the City this year and next, according to Atisreal, British Land may not be the only developer to take a time out. Rival Land Securities, Britain's largest property firm, will decide next March whether to go ahead with construction of a planned 509 ft (155-m) tower around the corner from Leadenhall Building; it too was originally planned for completion in 2011. "It seems...