Word: stockely
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...Economy, Stupid The economy needs attention, too. During Musharraf's eight-year tenure, first as General, then as President, foreign direct investment rose, the Karachi stock exchange outperformed regional neighbors and GDP grew on average 7% a year. The lifting of international economic sanctions, imposed in 1998 when Pakistan tested its first nuclear bomb, was partially responsible for the boost, but Musharraf also privatized key industries and opened up the banking sector. The rapid growth, however, exposed cracks in infrastructure that was failing to keep up. "The economy has been good for big business, good for the per capita averages...
Consumers: The Party's Over Oxford Street, London's busiest retail area, is still teeming with shoppers hunting for end-of-season sales bargains, but the store owners are anything but happy. Marks & Spencer's stock dropped 25% in a day on July 2 after the firm issued a profit warning. At privately owned rival John Lewis, sales in the summer-clearance week at the end of June fell more than 8% compared with the same week in 2007. Patrick Lewis, who heads the company's retail operations, said the market "has certainly got an edge tougher...
This month Taylor Wimpey, Britain's biggest housebuilder, failed to secure badly needed new funding from existing shareholders or new investors; its stock has dropped by 95% in the past year. Several Spanish homebuilders and construction firms are also struggling. Hetal Mehta, an economist at Ernst & Young in London, says U.K. house prices - which have dropped about 8% from their peak last year - could fall another 10%. Deutsche Bank figures the total drop could be closer to 25% by the end of 2010. Whatever the eventual decline, housing woes are already casting a chill on spending. For example, says Mehta...
Light joining Citigroup's board would be a victory for chief executive Vikram S. Pandit, who is trying to remake the board as he seeks to reverse the bank's fortunes. Citigroup's stock has lost two-thirds of its value in the past year...
...owns YouTube) or Apple. "The Weather Channel would add some icing to the cake," says Nicholas Heymann, an analyst for Sterne Agee & Leach. As syndication fees have evaporated and profit margins have thinned, TV companies have become less attractive assets. GE "has to start lighting a fire under its stock," notes Heymann...