CALIFORNIA | LOCAL
June 5, 2012 |
As one of the first women to hold a position of power on Wall Street, Marion O. Sandler was notable even before she and her husband, Herbert, spent 43 years building Oakland's World Savings Bank into such a major - and ultimately controversial - adjustable mortgage lender. Sandler, the daughter of Jewish immigrants from Lithuania and Russia, exploited her keen analytic skills to become Dominick & Dominick's first female executive in 1955 and joined Oppenheimer & Co. as a savings and loan analyst in 1961.
April 25, 2012 |
The cost of food around the world is rising again, due to bad weather, soaring oil costs and strong demand in Asia for imports, according to the World Bank. Global food prices soared 8% between December and March after dipping late last year from record highs, according to the organization's quarterly index . Unless food producers manage to funnel more product into the market, economists worry that prices could continue to spike. “After four months of consecutive price declines, food prices are on the rise again, threatening the food security of millions of people,” said Otaviano Canuto, the World Bank's vice president for poverty reduction and economic management, in a statement.
April 17, 2012 |
WASHINGTON — The World Bank selected Jim Yong Kim, president of Dartmouth College and an expert in public health, as its next president, continuing a seven-decade practice of installing an American citizen to lead the institution. There had been complaints from developing countries that their citizens should have a chance to run the bank. Two other nominees sought the job — Nigerian Finance Minister Ngozi Okonjo-Iweala and a former Colombian finance minister, Jose Antonio Ocampo.
April 12, 2012 |
After a superheated rise, China's economy is starting to slow. Luckily, according to the World Bank, the Asian superpower is headed for a “soft landing” instead of a crash that could overwhelm the multitude of countries with which China now does business. The bank, in its quarterly report on the country , forecasts 8.2% GDP growth for China this year and 8.6% expansion in 2013. The numbers signal a more “gradual slowdown” than the nation's recent tumble from 10.4% growth in 2010 to 9.2% last year.
March 27, 2012 |
President Obama's nominee to head the World Bank, Jim Yong Kim, is taking heat from some economists and others for past criticism of "corporate-led economic growth," which he said has come at the expense of the very poor. “Dr Kim would be the first World Bank president ever who seems to be anti-growth,” William Easterly, an economics professor at New York University, told the Financial Times . “Even the severest of World Bank critics like me think that economic growth is what we want.” Kim's comments came in a 2000 book he co-edited entitled, " Dying For Growth: Global Inequality and the Health of the Poor.
March 24, 2012 |
President Obama's decision to nominate a South Korean-born educator and health expert to lead the World Bank — and not someone with experience in global finance or diplomacy — reflects the increasingly fractious politics of international agencies and the need to address growing demands for representation outside the U.S. and Europe, analysts say. Obama's nomination of Dartmouth College President Jim Yong Kim to succeed Robert Zoellick comes...
March 23, 2012 |
President Obama's nominee to head the World Bank, Dartmouth President Jim Yong Kim, is more than just an expert on global health issues -- he's a pretty mean rapper and dancer. Kim busted some moves last year in the finals of a music competition called "Dartmouth Idol," performing in a studded, white leather jacket, white fedora and funky sunglasses along with the Dartmouth College Gospel Choir. Kim sang parts of "The Time of My Life" from the movie "Dirty Dancing" and "Dirty Bit" from the Black Eyed Peas.
March 23, 2012 |
President Obama on Friday nominated Dartmouth College President Jim Yong Kim, a physician and anthropologist by training, to succeed Robert Zoellick as the next president of the World Bank. The naming of Kim was seen as a surprise. Kim, 52, though highly regarded for his leadership in global health issues, is not well known in political or financial circles. But the appointment of the South Korean-born Kim may also deflect criticisms from developing economies of the United States having a lock on the World Bank's top position.