Word: rescuers
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...other words, up to 12.4% of a conservative Swiss bank was sold to foreign entities. Weeks before, shaky Citi, also in need of capital to repair its subprime-holed balance sheet, was handed a lifeline by a similarly unlikely rescuer. The Abu Dhabi Investment Authority, a $625 billion sovereign wealth fund (SWF) run by the tiny Persian Gulf emirate, announced it was forking over $7.6 billion for a 4.9% stake in Citi. Though Citi still faces difficulties, the cash infusion helped stabilize its plunging stock price and signaled to rattled markets that money was available to help subprime victims...
...giant has reported billions of dollars of subprime losses, raising concerns that some of Citigroup's assets might have to be sold off at fire-sale prices just to keep the company sufficiently capitalized. But on Nov. 26, New York-based Citi was handed a lifeline by an unlikely rescuer. The Abu Dhabi Investment Authority, a $625 billion sovereign wealth fund run by the tiny Persian Gulf emirate, announced it was forking over $7.6 billion to take a 4.9% stake in the company. While Citi still faces difficulties, the cash infusion helped stabilize its plunging stock price and signaled...
...Theyâre looking for him to be the rescuer...
...Riskâ never mentions Scarpetta, a fleshed-out character who inspires care and concern. The hero is the disappointingly empty Massachusetts state police investigator Winston Garano. He is handsome, a sharp dresser, and a rescuer of abused dogs, but the novella is too short and scattered to make him more than just a smart, pretty face...
Mittal's bid could still be derailed. Financial markets bubbled over with rumors that Arcelor was looking for a rescuer, possibly a Japanese firm who would put in a higher offer, although no such "white knight" had emerged by the end of the week. Mittal also needs to convince investors that his bid, which consists mainly of Mittal Steel stock with some cash, is good for them. Mittal Steel has what many see as a financial weak point: its corporate governance structure, which locks in Mittal family control. Lakshmi's son Aditya, 29, is president and ceo of the company...