Word: consumerized
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That toxic debt was also behind the other bad company news of the day, when HSBC - Europe's largest bank - said it would seek $17.1 billion in new capital, and close its U.S. consumer-lending unit, Household Finance. The American affiliate had saddled HBSC with $16.3 billion in subprime-rooted...
The previous arrangement with Citibank, the consumer and corporate banking arm of Citigroup, contained a similar provision eliminating the need for co-signers, but Citibank terminated its agreement with Harvard in early October, citing the effects of the frozen credit markets.
China's stimulus plans "could have an enormous difference in whether or not people want to buy cars," says Ben Simpfendorfer, chief China economist for the Royal Bank of Scotland. "What's unusual about this cycle is that China faces the same problems as everywhere else in the world. The...
OLPC was launched three years ago to provide children with “rugged, low-cost, low-power, connected laptops with content and software designed for collaborative, joyful, self-empowered learning.” The machines—called “XOs”—run without...
Much of that rosy outlook is pinned to a rock-solid faith in the Chinese government. These signs of new life in the national economy are seen by some economists as evidence that Beijing's massive monetary and fiscal-stimulus measures are kicking in. In November, the government announced a...