Word: felling
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Dates: during 1990-1990
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...officials used to grumble that Ostpolitik was a parochial policy that allowed the Soviets to cut separate deals with Bonn, drive a wedge into NATO and nudge the Federal Republic toward neutralism. When Brandt fell in 1974, more than one champagne bottle popped open in Washington...
...banker, nowhere is the level of nervousness higher than in the U.S. Depressed earnings at many of the country's largest lenders have raised questions about the health of the entire industry. Citicorp, the biggest U.S. banking company, announced last week that its profits for the second quarter fell 37%, to $248 million, from the same period a year ago. Citicorp attributed much of the decline to increased losses on real estate lending, particularly to developers in the troubled Northeast. Chase Manhattan, the No. 2 banking concern, reported second-quarter profits of $52 million, a 62% plunge from the same...
...most measurements -- assets, capital, return on shareholders' equity -- major Japanese and European institutions look healthier than their American counterparts. Yet foreign lenders also have their worries. The combined profits of Japan's 13 largest banks fell 11.6%, to $7.3 billion, in the fiscal year ended March 31, marking the first such decline in 10 years. The drop reflected the higher interest rates that banks must pay to woo deposits and hefty write-offs of bad loans to Mexico, the Philippines and other developing countries...
...analyst regards such setbacks as serious. The Japanese will almost surely continue to be the dominant bankers to the world. From 1980 to 1989 Japanese bank deposits, measured in yen, more than doubled. When measured in dollars, which fell in value against the yen during the decade, the deposits more than tripled, skyrocketing from $1 billion to $3.8 billion...
Similarly, buying top-price imports no longer seems so smart. Many U.S. products have regained their reputation for quality and value. U.S. sales of Porsches fell 69% from 1986 to 1989, from 30,471 to 9,479, though they recovered 19% during the first five months of this year. BMW's U.S. sales dropped 33% from 1986 to 1989, from 96,759 to 64,881 cars, and slipped an additional 10% in the first five months of this year...