Word: weste
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...HSBC, though, is also responding to the realities of its balance sheet. Its forays West have proved to be, at best, a mixed success, especially its business in the U.S. HSBC dove into the U.S. subprime mortgage and consumer credit market, mainly through its 2003 purchase of consumer finance firm Household International. That decision proved disastrous. For the 18 months ending in June, HSBC's U.S. personal-financial-services business posted pretax losses of $20 billion. In March, HSBC announced its consumer-finance operation wouldn't issue any more loans and would begin winding down its business (except for credit...
...HSBC isn't completely turning its back on the West. Green, the chairman, will remain in London, as will HSBC's official world headquarters. Yet HSBC's return to Asia is still an important signal of where the bank and the world economy believes it will find new growth. "The self-styled 'world's local bank' is realizing some locales are more important than others," noted an editorial in the South China Morning Post, Hong Kong's largest English-language newspaper. "It has taken an extraordinary financial crisis for the bank to see that its future lies where its roots...
...when authorities discovered she had actually been a guard at Ravensbruck, a Nazi concentration camp. She was stripped of her U.S. citizenship but the slow legal process - both Germany and Poland wanted to extradite her - kept her in the the country until 1973, when she was finally sent to West Germany. And even though former Panamanian general Manuel Noriega finished his U.S. prison sentence in 2007, he still remains in jail while the legal system decides whether he should be extradited to France (where he is wanted on money-laundering charges) or repatriated to Panama - where he faces charges...
...freeze uranium enrichment. Its insistence on its nuclear "rights" is a statement of its rejection of the demand from Western countries that it give up the right to enrich uranium, even for peaceful purposes, because of concerns about its intentions. Washington and its allies are debating whether the West can sustain that demand or could accept continued enrichment in Iran but under stricter safeguards against weaponization. Iran is making clear where it plans to start the discussion. As Iran's Foreign Minister, Manoucher Mottaki, told the New York Times on Sept. 29, Iran sees the talks...
Iran's track record - as well as the regime's precarious domestic political position - suggests that Tehran's strategy will be to engage in a way that offers hope of progress, but ambiguously and on terms more limited than those sought by the West. Its goal will be to avert confrontation and divide the Western powers from Russia and China. As Ray Takeyh, former adviser to Obama's Iran point man Dennis Ross, wrote in the Washington Post on Sept. 27, "At this week's talks, Iran's representatives are likely to subtly hint of cooperation to come - but only...