Word: amro
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...Indeed, falling U.S. consumer spending and the drying up of credit create big problems for Asian companies that may not be reflected in their current stock prices. "We have not yet seen the impact in the corporate sector yet," says Irene Cheung, a corporate director in ABN Amro's Asian markets trading business in Singapore. "That's the scary part." Cheung expects a further decline of 20% to 30% in Asian equity markets...
Even for a proud old bank like Belgo-Dutch giant Fortis, with nearly 300-year-old roots and Catherine the Great among its historic clients, playing a role in last fall's $100 billion takeover of Dutch rival ABN Amro was a big moment. In the largest financial services deal ever signed, Fortis - part of a consortium alongside the Royal Bank of Scotland (RBS) and Spain's Santander - put up $34 billion in return for ABN's Dutch banking business, among other assets...
...mortgage market, the Royal Bank of Scotland had other business in hand. As French, German and Dutch banks confessed to being hit by their exposure to soured U.S. sub-prime mortgages, an RBS-led consortium was closing in on its eventual $100 billion buy-out of Dutch rival ABN Amro, the banking industry's biggest ever takeover. One year on, and Britain's second-largest lender is still making news - though these days it's much less welcome. On August 8, RBS announced it had tumbled to a $1.33 billion loss in the first half of this year - a massive...
...campaign, launched by marketing agency Out Now Consulting, was intended to promote Amro Worldwide, a London-based gay tour operator, and to tout tourism to several gay-friendly U.S. destinations. In the week leading up to the British capital's gay pride parade on July 5, the agency placed 60 posters along escalators in London's Leicester Square and Covent Garden tube stations, which serve Soho, the city's gay hub. The South Carolina poster features a generic image of a plantation, and hyped the state's antebellum architecture, golf courses and gay beaches...
...South Carolina may in fact be "gayer" than many suspect. Andrew Roberts, CEO of Amro Worldwide, visited South Carolina after the state's tourism board expressed interest in the campaign, and says he toured several gay venues, including largely gay sections of mainstream beaches, in Charleston, Hilton Head Island and Myrtle Beach. "A few people in South Carolina need to wake up to what's going on in their state," he says. "There are more gay bars along that coastal strip than there are in Vegas...