Word: turmoil
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...markets. Harvard had issued more than $1.5 billion in variable-rate bonds as of the end of the 2007 fiscal year, according to the University’s annual financial report. These bonds have the potential to become costly for the University because of their volatility in the current turmoil. Interest rates on variable-rate bonds have soared as investors demand higher rates of return on these securities in the face of widespread market instability. A University spokesman declined to comment on how this spike in interest rates has affected Harvard’s balance sheet. Bonds allow the University...
...region might be safe for now, what the future holds is unclear. Asia's economies, though far from recession, are decelerating as a result of the overall global slowdown. That could lead to problems at home, including rising nonperforming loans. "Asian banking systems might have dodged the turmoil from the U.S. subprime crisis but they are not immune to economic slowdowns," Standard & Poor's concluded. In these turbulent times, avoiding one bullet doesn't necessarily save you from others...
Olmert's departure, though long awaited, has plunged Israeli politics into turmoil. One Haaretz columnist joked that Livni would have an easier time recruiting enemy Syria to her side than trying to woo over rebellious Knesset members. His remarks come after a Damascus daily glowingly referred to her as a "Mossad beauty" because Livni, now 50, had served as a junior Israeli spy in Europe during the 1980s...
...banks - Industrial and Commercial Bank of China, Bank of China and China Construction Bank - that themselves are getting hurt by an economic slowdown and a real estate slump at home. "This is a significant policy initiative aimed at supporting China's leading financial institutions at a time of global turmoil," says Jing Ulrich, chairman of China securities at JPMorgan in Hong Kong. It's another way of saying to CIC's Gao Xiqing, If you come home from New York having increased our stake in Morgan Stanley, it had better be the sweetest deal anyone in Beijing has ever seen...
...moves will boost confidence in the short term, but investors remain jittery, says Tai Hui, regional head of economic research for Standard Chartered Bank in Singapore. "It's not that the financial turmoil is getting any better," he says...