Word: levelizers
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...circumstances, interest-rate cuts by central banks would promote interbank lending. But Wednesday's coordinated rate cuts in the U.S., Europe and Asia have failed to restore lenders' confidence. The London Interbank Offered Rate, the benchmark for short-term interbank lending rates, actually rose to 4.75% Thursday, its highest level of the year. In Hong Kong, interbank lending rates have doubled in the past month. Banks remain gun-shy about resuming lending, in part because they remain unclear about the scope and details of a proposed U.S. bailout of its banking industry. "The level of trust between financial institutions...
...latest in a string of traumas for investors already afraid to open brokerage statements or turn on cable TV for fear of what the news might bring. It was the seventh straight day of declines for the Dow, driving the group of blue-chip stocks below 8,600, a level not broached in five years. Since the market's high - ironically enough, exactly a year ago - the Dow has shed nearly...
...rules of business. A couple of its signature companies, such as Alcoa, have announced cutbacks as demand slows. "No area is totally immune, but it is going to be, if we are right, a bit more modest in Pittsburgh," says Stuart Hoffman, PNC's chief economist. From ground level, Bob Intrieri can see the same thing. A partner at Allegheny Steel Products, he sells industrial innards to the machine shops and factories in the region: forgings, hubs, steel bars, wire belts used in furnaces--the stuff the global economy runs on. "I call on power-generation shops, and those guys...
...legislation follows nearly a year of threats from some lawmakers—notably Republican Senator Charles E. Grassley—to mandate a minimum level of endowment spending, which they say would increase college affordability. The five-percent proposal would extend to colleges and universities the level of endowment spending required of other tax-exempt charities and foundations...
Despite his record of success at holding executive-level jobs and making highly profitable investments, Rajaram had apparently been unable to find work. Meanwhile, he began to accumulate financial losses which took their toll on his saved-up profits. Suddenly having an M.B.A., working one's way up in finance and using one's business acumen to make solid investments offered little protection and security. "The essence of it was that this was a man's emotional spiral downward due to financial difficulties. He saw it as a tragedy, a disaster that had befallen him. He lost perspective," said...