Word: upturns
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...bullet train), aerospace (Airbus and the Ariane rocket, produced in France with European partners), telecommunications (mobile phones and wireless technology) and civil engineering (the dazzling new Normandy Bridge and the Franco-British Channel Tunnel). With assets like these, the country is well placed to benefit from the cyclical upturn lifting all European economies. Meanwhile, aggressive French firms are making their mark abroad. Vivendi last month announced a merger with Canada's Seagram that will give the new company control of Universal's film and music interests and make it a major player in the entertainment field...
...neatly in the wake of Greenspan's call. The Fed's comments are aimed at defusing a rally-cum-wealth effect that could spark consumption and undo all of Big Al's good work. But there'll be more than enough relief left over to spark a nice upturn in the days and weeks ahead...
...only new idea he hadn't yet tried, that of the bewildering British "mathematician." As the President explained in a fireside chat, "We suffer primarily from a failure of consumer demand because of a lack of buying power." It was therefore up to the government to "create an economic upturn" by making "additions to the purchasing power of the nation...
...books would violate the treatment as an equal principle on two grounds. First, Bob's need for shelter would be relegated to the same rank as the Dorm Crew student's more trivial need for concert tickets or sourcebooks. Secondly, Bob does not expect the same drastic socioeconomic upturn that students do; for him and over a thousand others, their wage will change little over their lifetime...
...bailout seems to have worked, thanks in large part to autumn's upturn in the global markets. But the real hero of the story is probably Federal Reserve Chairman Alan Greenspan, who lowered interest rates three times since September, prompting overseas banks to do the same. Long Term Capital's assets rose more than 20% in November alone, giving it a profit for the first time in at least seven months, though that gain may be partly wiped out now that markets have turned softer...