Word: thursdaying
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Shafir says despite the swirl of bad news surrounding Citi and Wall Street in general, he and his bankers have stayed focused. He also notes that last Thursday when the House resolution was passed to impose a special bonus tax on employees of many troubled financial institutions, including Citi, nothing out of the ordinary happened in Citi's offices. He says he hasn't had to spend a lot of time defending the firm, nor has he noticed any government intervention in running his part of the business. "In the last several months I have gotten calls from friends asking...
...stock market rally over? Up through Thursday's close, stocks were up 21% over two weeks, a gain fueled by positive news from the moribund housing market, an uptick in durable goods orders, and a well received plan from Treasury Secretary Timothy Geithner to clean up the banking industry's toxic-asset mess. (Read "Banks: How Toxic Are They...
French leaders have always been more frequent visitors to Africa than their Western peers, but President Nicolas Sarkozy looks set to eclipse them all in trips to the continent. On Thursday, Sarkozy began his fifth African sojourn in less than three years with a trip to the Democratic Republic of Congo (DRC), a violence-plagued Central African nation that of which most Western officials steer well clear. His goal? To sell his ambitious plan economic cooperation aimed at bring peace to some of the region's embattled countries - and in the process restore French influence in Africa...
...Earlier this year, Austrian authorities began decommissioning all cotton swabs manufactured by Austrian company Greiner Bio-One International AG after they had made a similar discovery, with a different mysterious DNA donor. On Thursday, several German states admitted to using that same brand of cotton swab. An investigator from the state of Baden-Württemberg told Bild newspaper: "The things were double-packaged; we thought they were the Mercedes of cotton swabs." But the Austrian manufacturer hurried to declare Thursday night that "Greiner Bio-One cotton swabs are not certified for DNA analysis...
Taiwan's trial of the century began Thursday as former president Chen Shui-bian showed up to court to face corruption charges that could result in a life sentence. Chen is accused of taking $9 million dollars in personal kickbacks on a state-sanctioned land deal, embezzling over $3 million from a state fund and laundering millions to overseas accounts. Chen has already admitted his wife wired $20 million in leftover campaign funds overseas, but he insists his case is one of political persecution by the new Kuomintang (KMT) administration, which has been forging closer ties with China since coming...