Article Abstract:
US bank shares have gone up in recent months as investors renew their confidence in them and the country's economy slowly recovers. Problem loans are no longer common in money-centre banks, with more caution about new lending, and profits are at their best since 1990. Regional banks show consistent earnings growth and are more attractive to investors due to better capitalising and less bad loans. Furthermore, a new wave of mergers and acquisitions have begun with large regionals eating up smaller banks with little effect on their shares.
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Jay C. Kim is most likely to become the first Korean American to be elected to the US Congress. The mayor of Diamond Bar, a small Los Angeles suburb, would be the only Asian American Republican in Congress and his victory would be an important step in the party's attempts at appealing to Asian Americans, as well as for local Korean Americans who suffered attacks during the Los Angeles riots. Kim believes that the US government should be run like a competitive business and that it's social spending and tax policies should be changed.
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Restaurants in China will be serving fortune cookies. The cookies were invented in the US by immigrant Chinese, and have not usually shown up in restaurants in China. Wonton Food Inc will be making the cookies in China, in a joint venture with Guangzhou Municipal Foodstuffs. The company needs Chinese fortune writers for its cookies which will have sayings in both Chinese and English on opposite sides.
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