Word: second-largest
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...away. At a press conference Friday afternoon, Aso unveiled $149 billion stimulus package, 50% larger than what Aso ordered up earlier this week and the third stimulus plan he has proposed since he took office last September. The latest package amounts to record spending for the world's second-largest economy - about 3% of GPP - and, if passed by lawmakers, will bring total fiscal spending during the Aso administration to about $268 billion...
Gerry Adams—president of Sinn Féin, the second-largest political party in Northern Ireland—eschewed the recent violence in his home country in a speech at a packed Institute of Politics last night. “The pathway forward is a strong one toward peace and reconciliation,” Adams said. “The story of Ireland was one of death and distress.” Adams last spoke at Harvard in 1994, when Northern Ireland and Sinn Féin—which has been historically associated with the Irish Republican...
...appeared to prosper, the second-largest conglomerate in the U.S., United Technologies (UTX) said it would fire 11,600 people and cut its financial forecasts. In the current environment, it may be considered shrewd business to cut the payroll. However UTX's management did not inspire confidence when it revised its forecast down sharply...
...treatment? Or, as Ayres writes, "does anyone my age have any money? Or are my financial issues generational in nature?" A hundred pages later, he will move in with a woman and score a mortgage from a little bank called IndyMac, which would eventually go on to become the second-largest bank failure in history. Somehow, Ayres knew the fall was coming and kept going anyway...
...woes have an obvious cause: the public perception is that his administration has failed to come up with strong enough medicine to counteract the country's increasingly dire economic plight. The world's second-largest economy shrank at an alarming annualized rate of 12.7% last quarter, its worst quarterly contraction since the 1974 oil shock. Exports also fell an unprecedented 13.9%, while the unemployment rate shot up to 4.4% in December, reaching levels not seen since World War II. "There is no doubt that the economy is in its worst state in the postwar period," said Economic and Fiscal Policy...