Word: strongly
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...problem, it appears, is that few people think Citigroup's earnings rebound is sustainable. Following the bank's strong earnings announcement, analyst John McDonald, who covers Citi for Sanford C. Bernstein, cut his estimates of what the bank could make next year. Instead of his earlier projection that Citi would turn a profit in 2010, McDonald thinks the bank will be solidly in the red next year, losing $3 billion. In his report, McDonald said investors should worry about "the earnings power and strategic direction of the franchise amid all the change and increased government ownership now under...
...veto threat from President Obama, is a major victory for Defense Secretary Robert Gates' effort to retool the Pentagon for the kind of wars now being fought in Afghanistan and Iraq. Obama praised Gates for his "outspoken leadership" in slaying the F-22 in the face of strong resistance from its backers. "At a time when we're fighting two wars and facing a serious deficit," he said in the Rose Garden, "this would have been an inexcusable waste of money...
...clue as to what kind of bill he would accept in the end - and what they should be trying to sell to their constituents. Who will be taxed to help pay for an initiative expected to cost $1 trillion or more over the next decade? Will it have a strong government-run "public plan" as an option? For whom? What kind of requirements will it impose on businesses to provide coverage for their workers? What will the bill do to bring down costs? Those are the kinds of questions lawmakers expect to be hearing from voters when they return home...
...Paradoxically, it may be the very absence of a dominant leader that makes China's existing system more stable than it sometimes might appear to outsiders. That's because there are no individuals strong enough to make a play for controlling power. "Collective leadership means weak leaders and strong factions," says Cheng Li of the Brookings Institution in Washington. Moreover, Beijing's leaders of the current generation all have vivid memories of the potentially devastating consequences of an open schism in the top ranks of the party. "What happened in Tiananmen in 1989 was a consequence of a split...
...panel of E.U. experts advising the Bulgarian government, says Bulgaria is spinning out of Brussels' orbit. As yet unpublished, the report by the International Advisory Board for Bulgaria says Russia could regain its historic hold on the country if political forces and civil society fail to spell out a strong European agenda. It warns that Bulgaria, which depends on Russia for 92% of its gas supplies, is uniquely vulnerable to Moscow. (Read "How One Man Plans to Sink the European Union...