Word: sectored
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...reports from the credit markets indicate that the great credit freeze may finally be starting to thaw. Morgan Stanley says that its analysts are seeing an improved credit landscape in most of the industries they track. "With the exception of utilities, a clear majority of firms in every other sector reported that credit availability had either remained the same or become easier over the past three months," Morgan Stanley's February 17 report notes...
...Bank ownership becomes more complex when a firm owned by the government does something materially different from what its competitors in the private sector do. If bank owned by the government offers business loans at 3% interest, what does a foreign-based public bank like DeutscheBank do to match that? A government-owned bank can be driven, at least short-term, by policy and not profits. That puts financial firms in the private sector in peril whenever they try to compete. The relationship between a national U.S. bank and private banks both inside and outside the U.S. causes a series...
...mansion in the aftermath of Watergate and during the last throes of the Vietnam War. "There is not a lot of room for political maneuvering. The age of dividing up the easy surpluses is over. We've been on a borrowing binge, both in the private and public sector, and we're going to have to enter a time of belt-tightening." (See the top 10 financial-crisis buzzwords...
...Sarkozy is not alone in responding to cries for help from the car sector. The U.K. has set out a $3.4bn rescue package for its beleaguered car industry, even though it is mostly foreign-owned; Spain has stumped up $5.1 billion in public cash to bail-out car firms; and Germany has set aside $1.9 billion to pay owners to junk their old cars and buy something new. At the same time, the U.S. government has handed $17.4 billion to GM and Chrysler, a move that European carmakers say leaves them at a competitive disadvantage. (See pictures...
...message appears to have gotten through to China's private sector. Thousands of independent businesses across the country have since made announcements promising zero layoffs and full payment of salaries. To help them keep those commitments, several cities - including Beijing, Tianjin and Shenzhen - have announced policies to encourage companies to keep their workers by reducing the amounts employers must contribute to social welfare programs such as pensions and medical insurance. Local governments are making up the difference with subsidies. The Minhang district in Shanghai alone has set aside a budget of $290 million to assist struggling businesses avoid layoffs...