Word: turnings
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...Andy Hornby, the former chief exec of HBOS, which was taken over last year by rival Lloyds to prevent a run on the bank, said he was "extremely sorry for the turn of events." Dennis Stevenson, Hornby's chairman at HBOS - which, along with Lloyds, got a $25 billion bailout from the government in return for 43% of the combined group - was "profoundly and unreservedly" apologetic. And really giving it his all, Fred Goodwin, ex-boss of the Royal Bank of Scotland (RBS), rescued by British taxpayers last fall with an even bigger bailout, said he "could not be more...
...Before explaining the nuts and bolts of Strata's structure, it may be wise to put down your Blackberry, mute your CNBC program and turn down your iPod. This stuff is very tricky, perhaps far more so than any investment should be. That's part of the problem. (See the worst business deals...
...successful in cutting carbon emissions rapidly - hardly an easy task - the momentum of climate change will continue for centuries. That means our ability to adapt to the impacts of warming, including more aggressive responses to wildfires like those in Australia, will become all the more critical, lest natural disasters turn into human catastrophes. But it also means that the world we've become accustomed to will change, perhaps irrevocably. The wildfires in southern Australia are already the worst in the nation's history - but they surely won't be the last...
Will Barack Obama's second fortnight turn out to be rockier than his first...
...Which is why Obama's decision to let the House Democrats draft the stimulus measure that underwent emergency surgery in the Senate last week was so interesting and could turn out to be so pivotal. Obama may have believed he had plenty of reasons to let House Speaker Nancy Pelosi run the stimulus show: his own aides lacked the time and knowledge to draft a cogent measure; he surely recalled how Clinton ran aground when he tried to force the details of an initial package down the throats of lawmakers 16 years ago; and most of all because the White...