Word: unionism
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...other Asian countries are growing at least three times as fast, most analysts view Nomura's acquisition of Lehman's Asia assets for $225 million as a steal. MUFG, too, was already looking beyond Japan for growth. In August, it paid $3.5 billion to buy the remaining 35% of Union Bank of California that it didn't already own. Union Bank of California has a relatively healthy balance sheet and its stock is undervalued, analysts...
...Hemorrhaging up to $3 million a day, Alitalia has become the poster boy for all that's wrong with Europe's worst state-run companies. With the pilots association and stewards union scuttling the latest attempt to salvage the airline last week, Alitalia seems to be nearing...
...Alitalia has been in need of a shakeup for years. The company hasn't turned a profit since 1999, forcing the Italian government to set up a series of bailouts that have drawn the ire of European Union competition regulators. In December 2006, then Prime Minister Romano Prodi put the government's 49.9% share of Alitalia on the selling block. Several potential buyers pulled out, and a takeover bid by Air France-KLM was blocked by the unions and the open disdain of then opposition leader Silvio Berlusconi...
...That kind of good fortune, divine or not, has helped Lula, 62, a former union leader, become the country's most popular President in half a century. Even without the oil find - which could make Brazil one of the world's largest crude producers - the economy is growing vigorously, and the nation's notorious social inequality is receding. What's more, Brazil is flexing a newfound diplomatic clout as the hemisphere's first real counterweight to the U.S. (Lula led the creation of a bloc of developing nations, the G-20, to thwart U.S. and European hegemony in global trade...
...irony in that rise is that Austria has rarely had it so good. Growth and investment have easily outpaced the E.U. average for years; banks are profiting from new markets in eastern Europe and the former Soviet Union. The capital Vienna, flush with tax revenues, looks almost imperial again. Much of the country's prosperity is a direct consequence of one of the far right's most cherished bugbears: the E.U.'s expansion towards the east...