Muscovites have a new way of greeting each other these days: “How’s the crisis?” It’s a rare person who gives a positive reply. The global economic meltdown is flattening Russia
Is the Worst of the Economic Crisis Over For Russia?
Tag Archives: financial
The One Country That Might Avoid Recession Is…
Brazil is no stranger to economic crises. In the 1970s and ’80s, Latin America’s economic giant turned financial mismanagement into an art form. The current global turmoil has not left Brazil unscathed: stock prices, exports and growth are all down.
Bank Nationalizations: Why They Might Work
IndyMac will soon earn the first half of its name back. The government, which seized the failed bank last summer, is expected to close a deal in the next week that would return the California mortgage lender to private ownership
Is Europe Falling Out of Love with Obama?
Europeans were among the loudest cheerleaders for Barack Obama during his presidential campaign. Soon after he won the Democratic candidacy 200,000 people turned out in Berlin to hear him speak. But now that he is settled in the White House, many Europeans feel snubbed
America’s Ski Resorts: Saved by the Snow
The early-March snowstorm that creamed the Eastern seaboard largely missed Vermont’s big skiing areas. But resort operators were delighted nevertheless, because the storm whetted the appetite of all those coastal skiers. The industry calls it the “backyard syndrome,” and it can either feed or starve the sport in a given year.
How Financial Stocks Could Be the Market’s Bright Spot
Here’s a scary fact to add to today’s gloomy stock-market headlines: bank stocks might actually be providing a boost to the market, even as it tumbles to new lows. By at least one measure, financial firms are making the bad earnings caused by the economy look a bit rosier. Late last week, Goldman Sachs cut its earnings expectations for the stocks in the Standard & Poor’s 500
European markets close down
European markets closed lower Tuesday, following a global selling spree the day before. Europe’s major exchanges drifted up in morning trading but by the end of the day London’s FTSE 100 was down 3.1 percent, the CAC 40 lost 1 percent and Frankfurt’s Dax 30 sank 0.5 percent.
Chinese leaders confront economic crisis
When China’s legislature opens its annual session this week, the focus will be on jobs, the economy and social stability. Every year, over 3,000 delegates to the National People’s Congress meet in Beijing to review draft laws and vote on government budget and policies
China Goes on a Smart Shopping Spree
The world might be sinking into its worst recession in generations, but China is on a wild shopping spree. Sitting some $2 trillion of cash reserves, Beijing is taking advantage of the woes of others to cement its grip on new sources of commodities ranging from olive oil to crude oil —often at fire-sale prices. China’s growth rate may be slowing in concert with the world economy, but even at that slower rate, its economy continues to expand, requiring a steady increase in supplies of oil, copper, aluminum and other minerals.
Who’s Right: Buffett or Obama?
On reading Warren Buffett’s much-anticipated letter to Berkshire Hathaway’s shareholders, one can’t avoid being struck by his faith in the ability of the American people to overcome adversity and to move the nation forward.