Word: frankfurt
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...fine," says Jim O'Neill, London-based head of global economic research for Goldman Sachs. Even if the U.S. economy remains soft for much of the year, O'Neill adds, "we're pretty confident that the rest of the world will withstand it." At the German Engineering Federation in Frankfurt, chief economist Ralph Wiechers concurs. "It used to be that the U.S. economy supported the world economy," he says. "Now it's the other way around...
...brothers work on their original and absurd yet realistic and alarming pieces. They are in constant discourse, shuttling ideas, words and images back and forth and jotting them down, whether at a meal, backstage, strolling or waiting for a flight. It was while waiting for a flight at Frankfurt airport, in fact, that they plotted out To Kill the Referee, their first novel. It was a best seller in Russia last year and is now being adapted to film...
...comparison with recent years, those figures are measly for the U.S. - but unusually robust for the Europeans. Central banks on both sides of the Atlantic are reacting differently to the prospect. In Frankfurt, the European Central Bank is continuing to raise interest rates - the next hike is widely expected later this month. In Washington, meanwhile, the new Federal Reserve chairman, Ben Bernanke, has ended the series of rate increases introduced by his predecessor, Alan Greenspan, and Wall Street has been anticipating the start of a period of cuts as the U.S. economy loses momentum. This transatlantic divergence is pushing...
...Wolf's most famous victory was Gunter Guillaume, a long-time East German agent who feigned escape from the East to the West in 1956, became a successful businessman and politician in Frankfurt, and rose to become a trusted aide of West German Chancellor Willy Brandt, in charge of Brandt's schedule and relations with his own party. Brandt was trying to calm the Cold War and reconcile the two Germanys through his "Ostpolitik," which Guillaume's reports confirmed as a genuine shift in policy. To keep Brandt from losing a no-confidence motion, Wolf paid 50,000 marks...
...Thormann, then head of Renault's investor-relations department, coaxed the French automaker's top finance officer, Carlos Ghosn, into making a presentation to analysts at a big Frankfurt auto show. "It went very well," recalls Thormann, 52. Indeed. The American exec moved back to the U.S. in July to become senior vice president of administration and finance for Nissan North America, which is run by a committee of five. But if Ghosn has a question about Nissan's U.S. ops, which posted $40 billion in sales last year, he calls Thormann first. Wonder why. Hilary Schneider...