Word: tap
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...stress tests estimated that Wells Fargo will have as much as $86 billion in loans that go unpaid over the next two years. The bank has already put aside some money to cushion that blow - $22 billion as of the end of March - and Wells would be able to tap another $24 billion of loss provision that it set up when it acquired Wachovia. But that still leaves another $40 billion in loan losses that could find their way to Wells' bottom line in the next two years...
...effort to make good on his campaign promise to increase government transparency, President Barack Obama's Administration has launched data.gov, a website intended to enhance public access to vast troves of previously inaccessible government information. Sound exciting? It isn't. Conspiracy junkies hoping to tap into secret CIA files or to find out who really killed JFK are out of luck. The data catalog includes just 47 documents - most of which would only appeal to those desperate for information on migratory bird patterns or unconsolidated stream sediments. (Read "A Brief History of the National Archives...
...most asset-rich corporations in the world. The market cap of PetroChina (PTR) recently passed Exxon Mobil (XOM) making it the most valuable company traded on any stock exchange. That gives it the option of using cash or stock to acquire assets in the West and Japan.PetroChina can also tap the Chinese treasury for cash...
...long time, the normal laws of economics did not seem to apply in Dubai, the most populous of the seven states that comprise the United Arab Emirates. Abu Dhabi, the seat of political power in the UAE, controls most of the country's oil resources. With less oil to tap, Dubai has used low taxes, easy money and cheap Asian labor to transform itself into one of the region's most dynamic economies. The city state developed a kind of signature swagger, expressed most gaudily in the gargantuan real estate projects - an indoor ski slope, man-made islands shaped like...
...elsewhere in the region. The nation's wealth was also placed in very liquid investments, predominantly U.S. government paper assets, rather than real estate. While other regional investment funds were buying into international banks, Saudi Arabia was purchasing U.S. government bonds, or paying down its debt. The country can tap into those liquid assets while its neighbors are struggling to sell their investments in banks, equities and companies - Saudi's debt now stands at just 13% of the total size of its economy...