Word: stake
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...summer will seem unusually long for businesses, people out of work, the Fed and the Treasury, and the tens of millions of Americans who have a direct stake in an economic recovery. The normal slowing of economic activity during the summer season will make any progress seem like walking through water. The seasonal drop in real estate markets could increase the fear that this sector is in worse trouble than it really...
...English name Ken, may be more interested in building U.S. basketball. According to basketball sources, the Chinese-born Huang is brokering a deal between the Cleveland Cavaliers and a Hong Kong real estate and telecommunications conglomerate called New World Development to buy up to a 15% minority stake in the National Basketball Association (NBA) franchise and its sports arena. The Cavs, who are currently battling the Orlando Magic for the Eastern Conference title, boast this season's most valuable player, LeBron James, who's known in the U.S. as "King James" and in China as "the Little Emperor." (Watch TIME...
...Chinese mineral firm Chinalco has bought into metals giant Rio Tinto (RTP) which raised concerns with the U.S. and Australian governments about whether they want a foreign nation to have such a large stake in a company which supplies commodities to major corporations all over the world. (See pictures of China's rebuilding efforts...
...question of whether some assets are too important to allow China to buy puts the interests of Congress against the interests of shareholders. PetroChina is paying a 24% premium to buy its new stake in Singapore Petroleum. If a Chinese firm offered a similar premium to buy a US-based energy or refining operation, would Congress block the deal? If the 3Com transaction is any indication, potential shareholder profits would be trumped by a government decision that it does not want China to have control of assets that are part of the fabric of American economic and business interests...
...dour and sometimes acerbic figure who clashed publicly with the U.S. over the Balkan wars, the genocide in Rwanda and Washington's unpaid U.N. dues. "My uncle tends to more public display, he tends to be more blunt," Boutros-Ghali says. "[At the IMF] different things are at stake. I will pound my fists in a closed room; there's nothing to be gained from doing it in public...