Word: withdrawe
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What was up is now down and the other way around, and it's going to stay that way for some time. Former powerhouses such as Bank of America and Citicorp have turned into shadows of their former selves as they shed assets and withdraw from foreign markets. Meanwhile, lenders in China and India that are little known outside their home countries now have the wherewithal to expand internationally. They have the potential to become the Citicorps of tomorrow. (See pictures of the global financial crisis...
...surge of violence in Iraq hasn't changed the Obama Administration's plans to withdraw American troops from the country, it has certainly forced many Iraqi refugees to put off plans to return to the country. A series of bombings across Iraq in April killed more than 200, the highest monthly body count in roughly a year. Andrew Harper, head of the Iraq Support Unit created by the U.N. High Commissioner for Refugees (UNHCR), told TIME that the rate of refugee return slowed dramatically in April. And a "significant number" of returnees have turned around and fled the country again...
...long as the global financial system is in disarray, China will be hard pressed to withdraw its support for SOEs and stem the private-sector decline. But if it wants to ensure that an economic recovery lasts, it may have to. "If you believe one of China's problems over the last 10 years is a large misallocation of capital ... the debate is that you're seeing a continued misallocation," says Pettis. Some argue this matters little amid the global recession "when the house is on fire," he says. The risk is that in China's push to extinguish...
...though his wife is still working full-time, their $25,000 yearly contribution to Charles' tuition tab was starting to seem prohibitive. "The thing that was literally keeping me awake at night was having a conversation with my son that, 'You know, Charlie, you're going to have to withdraw from Grinnell,'" Frantz says. In February, he called the school to ask for more help. No definite word yet, but aid officers told him his chances are good. "That was such a huge relief for me," he says Frantz. "I can't begin to explain...
Colonel Gary Volesky's take on whether U.S. forces will continue to operate in the northern Iraqi city of Mosul beyond a June 30 deadline for withdrawal sounded almost as if he were fishing for an invitation. "If the Iraqi government wants us to stay, we will stay," said Volesky, commander of the U.S. combat brigade currently in Mosul. Volesky spoke with reporters via a teleconference from the main U.S. base in Mosul, which remains the last urban stronghold of the Sunni insurgency in Iraq. U.S. and Iraqi commanders, Volesky said, are assessing whether U.S. troops should stay in Mosul...