Word: cashed
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...that China's state-controlled companies have begun a shopping spree triggered by their access to cash and an eye to assets in other parts of the world beaten down by the recession, the fight over whether some assets are "too big to be bought" is heating up. There have been rumors that Chinese car companies might bid for auto brands in the U.S. and Europe. China's sovereign fund may be a bidder for AIG's (AIG) huge airplane lease division ILFC...
...China's largest companies are beginning to take center stage as the and most asset-rich corporations in the world. The market cap of PetroChina (PTR) recently passed Exxon Mobil (XOM) making it the most valuable company traded on any stock exchange. That gives it the option of using cash or stock to acquire assets in the West and Japan.PetroChina can also tap the Chinese treasury for cash...
...estimated $30 billion in surplus funds generated from oil sales in years past, but that money is dwindling. Iraq expects to run a deficit this year of roughly $20 billion, which could be covered by the surplus funds. How the Iraqi government can continue to generate enough cash to fund itself going into 2010 is largely unclear to American and Iraqi officials looking at the problem now. (See how relative stability has helped bring new life into Iraq's streets...
Ahmed Basim Mohammed al-Abaje is understanding about slow salary payments from the Iraqi government. He and other citizens of Baghdad are beginning to realize that the Iraqi government is running low on cash owing to the global financial crisis. "There have been some delays, but we did not have to wait too long for pay," says Abaje, a member of the volunteer Sunni watchmen-fighters known as the Awakening in the Baghdad neighborhood of Mansour. But Abaje, like scores of other Awakening members across Iraq, worries that the pay may dry up altogether. "If the government wanted...
...French dailies traditionally publish on all holidays except the May 1 labor day. But Libération editors explained that sluggish sales on days off don't offset the cost of printing the cash-strapped paper. Rival publications reacted not with smug guffaws, but with more of the same. Conservative daily Le Figaro now says it will also suspend publication on three French holidays. That follows the earlier lead of financial dailies Les Echos and La Tribune to sit out national holidays - a sous-pinching habit to which Catholic daily La Croix and its communist opposite L'Humanité have...