Word: solding
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Something like a billion handsets are sold worldwide every year. That is good news for the large phone companies with big cellular businesses. Wireless handsets, calling plans, and data charges have built new revenue for them at a remarkable pace...
Faced with ubiquitous signs of global economic meltdown, investors sold stocks in force on Tuesday, dragging the broad market indexes down near the lows reached last November. The Standard & Poor's 500 index, weighed down by financials, fell 4.56%, while the Dow Industrials sank 3.8%, falling to within a fraction of its November 2008 low. Among the hardest hit sectors were bank stocks, down 10%, oil service stocks, down 8.2%, and semiconductor stocks, which fell 6.7%. Gold Mining was among the rare winners Tuesday, with the industry group rising 2.5%. (See pictures of the top 10 scared traders...
...forecasts for the next year or so seem reasonable and are widely viewed as a good road map for what is likely to be ahead for GDP and employment. However, he may not be right with his estimate that total banks write-offs due to toxic financial instruments sold by U.S. will be about $3.3 trillion worldwide. That is well above projections by most economists and the IMF. Nationalization of U.S. banks would cause hundreds of billions of dollars of losses to the common and preferred stockholders in the firms. This, in turn, could cause the failure of some investment...
...usual, but their balance sheets become, in essence, the balance sheet of the Treasury. In theory, as time passes and the banks become profitable, those profits go back to the government and pass though to citizens in the form of lower taxes. The banks may also end up being sold back into the private enterprise system bringing the government an even better return...
It’s been a long time since the Harvard men’s hockey team felt this good about its game. On Saturday night at a sold-out Bright Hockey Center, the Crimson (7-14-4, 7-7-4 ECAC) upset arch-rival No. 6 Cornell in a thrilling and brutal contest. The 4-2 victory over the Big Red (15-6-4, 10-5-3) was the second win of the weekend and could be just the boost Harvard needs to get on a winning track as it heads towards the ECAC playoffs...