The challenge clearly worries the region's Catholic bishops, who cite the growth of conservative Protestantism among their top concerns, along
with the foreign debt and guerrilla and military violence.
I think it is true to say that there has not been a lot of unhedged foreign currency borrowing occurring among Australian corporates since the days of the «Swiss franc loans» of the mid-eighties, but I will postpone discussion of that topic until I deal
with foreign debt in the second half of this talk.
Not exact matches
Important factors that could cause actual results to differ materially from those reflected in such forward - looking statements and that should be considered in evaluating our outlook include, but are not limited to, the following: 1) our ability to continue to grow our business and execute our growth strategy, including the timing, execution, and profitability of new and maturing programs; 2) our ability to perform our obligations under our new and maturing commercial, business aircraft, and military development programs, and the related recurring production; 3) our ability to accurately estimate and manage performance, cost, and revenue under our contracts, including our ability to achieve certain cost reductions
with respect to the B787 program; 4) margin pressures and the potential for additional forward losses on new and maturing programs; 5) our ability to accommodate, and the cost of accommodating, announced increases in the build rates of certain aircraft; 6) the effect on aircraft demand and build rates of changing customer preferences for business aircraft, including the effect of global economic conditions on the business aircraft market and expanding conflicts or political unrest in the Middle East or Asia; 7) customer cancellations or deferrals as a result of global economic uncertainty or otherwise; 8) the effect of economic conditions in the industries and markets in which we operate in the U.S. and globally and any changes therein, including fluctuations in
foreign currency exchange rates; 9) the success and timely execution of key milestones such as the receipt of necessary regulatory approvals, including our ability to obtain in a timely fashion any required regulatory or other third party approvals for the consummation of our announced acquisition of Asco, and customer adherence to their announced schedules; 10) our ability to successfully negotiate, or re-negotiate, future pricing under our supply agreements with Boeing and our other customers; 11) our ability to enter into profitable supply arrangements with additional customers; 12) the ability of all parties to satisfy their performance requirements under existing supply contracts with our two major customers, Boeing and Airbus, and other customers, and the risk of nonpayment by such customers; 13) any adverse impact on Boeing's and Airbus» production of aircraft resulting from cancellations, deferrals, or reduced orders by their customers or from labor disputes, domestic or international hostilities, or acts of terrorism; 14) any adverse impact on the demand for air travel or our operations from the outbreak of diseases or epidemic or pandemic outbreaks; 15) our ability to avoid or recover from cyber-based or other security attacks, information technology failures, or other disruptions; 16) returns on pension plan assets and the impact of future discount rate changes on pension obligations; 17) our ability to borrow additional funds or refinance debt, including our ability to obtain the debt to finance the purchase price for our announced acquisition of Asco on favorable terms or at all; 18) competition from commercial aerospace original equipment manufacturers and other aerostructures suppliers; 19) the effect of governmental laws, such as U.S. export control laws and U.S. and foreign anti-bribery laws such as the Foreign Corrupt Practices Act and the United Kingdom Bribery Act, and environmental laws and agency regulations, both in the U.S. and abroad; 20) the effect of changes in tax law, such as the effect of The Tax Cuts and Jobs Act (the «TCJA») that was enacted on December 22, 2017, and changes to the interpretations of or guidance related thereto, and the Company's ability to accurately calculate and estimate the effect of such changes; 21) any reduction in our credit ratings; 22) our dependence on our suppliers, as well as the cost and availability of raw materials and purchased components; 23) our ability to recruit and retain a critical mass of highly - skilled employees and our relationships with the unions representing many of our employees; 24) spending by the U.S. and other governments on defense; 25) the possibility that our cash flows and our credit facility may not be adequate for our additional capital needs or for payment of interest on, and principal of, our indebtedness; 26) our exposure under our revolving credit facility to higher interest payments should interest rates increase substantially; 27) the effectiveness of any interest rate hedging programs; 28) the effectiveness of our internal control over financial reporting; 29) the outcome or impact of ongoing or future litigation, claims, and regulatory actions; 30) exposure to potential product liability and warranty claims; 31) our ability to effectively assess, manage and integrate acquisitions that we pursue, including our ability to successfully integrate the Asco business and generate synergies and other cost savings; 32) our ability to consummate our announced acquisition of Asco in a timely matter while avoiding any unexpected costs, charges, expenses, adverse changes to business relationships and other business disruptions for ourselves and Asco as a result of the acquisition; 33) our ability to continue selling certain receivables through our supplier financing program; 34) the risks of doing business internationally, including fluctuations in foreign current exchange rates, impositions of tariffs or embargoes, compliance with foreign laws, and domestic and foreign government policies; and 35) our ability to complete the proposed accelerated stock repurchase plan, among other
foreign currency exchange rates; 9) the success and timely execution of key milestones such as the receipt of necessary regulatory approvals, including our ability to obtain in a timely fashion any required regulatory or other third party approvals for the consummation of our announced acquisition of Asco, and customer adherence to their announced schedules; 10) our ability to successfully negotiate, or re-negotiate, future pricing under our supply agreements
with Boeing and our other customers; 11) our ability to enter into profitable supply arrangements
with additional customers; 12) the ability of all parties to satisfy their performance requirements under existing supply contracts
with our two major customers, Boeing and Airbus, and other customers, and the risk of nonpayment by such customers; 13) any adverse impact on Boeing's and Airbus» production of aircraft resulting from cancellations, deferrals, or reduced orders by their customers or from labor disputes, domestic or international hostilities, or acts of terrorism; 14) any adverse impact on the demand for air travel or our operations from the outbreak of diseases or epidemic or pandemic outbreaks; 15) our ability to avoid or recover from cyber-based or other security attacks, information technology failures, or other disruptions; 16) returns on pension plan assets and the impact of future discount rate changes on pension obligations; 17) our ability to borrow additional funds or refinance
debt, including our ability to obtain the
debt to finance the purchase price for our announced acquisition of Asco on favorable terms or at all; 18) competition from commercial aerospace original equipment manufacturers and other aerostructures suppliers; 19) the effect of governmental laws, such as U.S. export control laws and U.S. and
foreign anti-bribery laws such as the Foreign Corrupt Practices Act and the United Kingdom Bribery Act, and environmental laws and agency regulations, both in the U.S. and abroad; 20) the effect of changes in tax law, such as the effect of The Tax Cuts and Jobs Act (the «TCJA») that was enacted on December 22, 2017, and changes to the interpretations of or guidance related thereto, and the Company's ability to accurately calculate and estimate the effect of such changes; 21) any reduction in our credit ratings; 22) our dependence on our suppliers, as well as the cost and availability of raw materials and purchased components; 23) our ability to recruit and retain a critical mass of highly - skilled employees and our relationships with the unions representing many of our employees; 24) spending by the U.S. and other governments on defense; 25) the possibility that our cash flows and our credit facility may not be adequate for our additional capital needs or for payment of interest on, and principal of, our indebtedness; 26) our exposure under our revolving credit facility to higher interest payments should interest rates increase substantially; 27) the effectiveness of any interest rate hedging programs; 28) the effectiveness of our internal control over financial reporting; 29) the outcome or impact of ongoing or future litigation, claims, and regulatory actions; 30) exposure to potential product liability and warranty claims; 31) our ability to effectively assess, manage and integrate acquisitions that we pursue, including our ability to successfully integrate the Asco business and generate synergies and other cost savings; 32) our ability to consummate our announced acquisition of Asco in a timely matter while avoiding any unexpected costs, charges, expenses, adverse changes to business relationships and other business disruptions for ourselves and Asco as a result of the acquisition; 33) our ability to continue selling certain receivables through our supplier financing program; 34) the risks of doing business internationally, including fluctuations in foreign current exchange rates, impositions of tariffs or embargoes, compliance with foreign laws, and domestic and foreign government policies; and 35) our ability to complete the proposed accelerated stock repurchase plan, among other
foreign anti-bribery laws such as the
Foreign Corrupt Practices Act and the United Kingdom Bribery Act, and environmental laws and agency regulations, both in the U.S. and abroad; 20) the effect of changes in tax law, such as the effect of The Tax Cuts and Jobs Act (the «TCJA») that was enacted on December 22, 2017, and changes to the interpretations of or guidance related thereto, and the Company's ability to accurately calculate and estimate the effect of such changes; 21) any reduction in our credit ratings; 22) our dependence on our suppliers, as well as the cost and availability of raw materials and purchased components; 23) our ability to recruit and retain a critical mass of highly - skilled employees and our relationships with the unions representing many of our employees; 24) spending by the U.S. and other governments on defense; 25) the possibility that our cash flows and our credit facility may not be adequate for our additional capital needs or for payment of interest on, and principal of, our indebtedness; 26) our exposure under our revolving credit facility to higher interest payments should interest rates increase substantially; 27) the effectiveness of any interest rate hedging programs; 28) the effectiveness of our internal control over financial reporting; 29) the outcome or impact of ongoing or future litigation, claims, and regulatory actions; 30) exposure to potential product liability and warranty claims; 31) our ability to effectively assess, manage and integrate acquisitions that we pursue, including our ability to successfully integrate the Asco business and generate synergies and other cost savings; 32) our ability to consummate our announced acquisition of Asco in a timely matter while avoiding any unexpected costs, charges, expenses, adverse changes to business relationships and other business disruptions for ourselves and Asco as a result of the acquisition; 33) our ability to continue selling certain receivables through our supplier financing program; 34) the risks of doing business internationally, including fluctuations in foreign current exchange rates, impositions of tariffs or embargoes, compliance with foreign laws, and domestic and foreign government policies; and 35) our ability to complete the proposed accelerated stock repurchase plan, among other
Foreign Corrupt Practices Act and the United Kingdom Bribery Act, and environmental laws and agency regulations, both in the U.S. and abroad; 20) the effect of changes in tax law, such as the effect of The Tax Cuts and Jobs Act (the «TCJA») that was enacted on December 22, 2017, and changes to the interpretations of or guidance related thereto, and the Company's ability to accurately calculate and estimate the effect of such changes; 21) any reduction in our credit ratings; 22) our dependence on our suppliers, as well as the cost and availability of raw materials and purchased components; 23) our ability to recruit and retain a critical mass of highly - skilled employees and our relationships
with the unions representing many of our employees; 24) spending by the U.S. and other governments on defense; 25) the possibility that our cash flows and our credit facility may not be adequate for our additional capital needs or for payment of interest on, and principal of, our indebtedness; 26) our exposure under our revolving credit facility to higher interest payments should interest rates increase substantially; 27) the effectiveness of any interest rate hedging programs; 28) the effectiveness of our internal control over financial reporting; 29) the outcome or impact of ongoing or future litigation, claims, and regulatory actions; 30) exposure to potential product liability and warranty claims; 31) our ability to effectively assess, manage and integrate acquisitions that we pursue, including our ability to successfully integrate the Asco business and generate synergies and other cost savings; 32) our ability to consummate our announced acquisition of Asco in a timely matter while avoiding any unexpected costs, charges, expenses, adverse changes to business relationships and other business disruptions for ourselves and Asco as a result of the acquisition; 33) our ability to continue selling certain receivables through our supplier financing program; 34) the risks of doing business internationally, including fluctuations in
foreign current exchange rates, impositions of tariffs or embargoes, compliance with foreign laws, and domestic and foreign government policies; and 35) our ability to complete the proposed accelerated stock repurchase plan, among other
foreign current exchange rates, impositions of tariffs or embargoes, compliance
with foreign laws, and domestic and foreign government policies; and 35) our ability to complete the proposed accelerated stock repurchase plan, among other
foreign laws, and domestic and
foreign government policies; and 35) our ability to complete the proposed accelerated stock repurchase plan, among other
foreign government policies; and 35) our ability to complete the proposed accelerated stock repurchase plan, among other things.
With most of these
debts being held by Chinese entities, it's unlikely we'll see a banking crisis in the same way we could have seen if Greece or Spain went belly up, said Lau — many
foreign banks hold European bonds — but we've seen markets panic on far less worrisome Chinese news in the past.
Capital outflows lead to a weaker currency, which concerns the hordes of Chinese companies that borrowed
debt in
foreign currencies over the past few years and now have to pay it back
with a weaker yuan.
The woman, who works at a company in eastern Tokyo, said she plans to invest more in stocks than in
debt,
with a focus on
foreign equities including those from emerging markets.
In 1998 you had a rolling crisis of sorts where lots of little problems (emerging market
debt scares) eventually boiled over into one bigger problem (the Russian default) and then appeared to be rolling over into
foreign markets
with the LTCM debacle.
We had a bunch of countries
with pegged currencies who were experiencing trade imbalances,
foreign denominated
debt crises, ultimately leading to economic slowdown,
foreign currency turmoil, commodity turmoil and economic turmoil.
Those countries
with less - developed institutions and financial systems, limited policy credibility, greater
foreign currency
debt and / or more precarious economic situations are certainly more exposed than others to external shocks.
The study contrasts
with earlier research which concluded that companies that repatriated
foreign earnings following the 2004 legislation tended to be those
with rather limited investment opportunities both at home and abroad, a paucity, it was argued, that explains their failure to fund domestic investment through
debt financing before the tax holiday.
Germany attempted to print paper notes, buy
foreign currency
with them, and use that to pay their
debts.
With inflation likely to remain low and Treasuries continuing to be a haven for domestic and
foreign investors, financing the expanding federal
debt should continue without major problems.
The 2013 survey also suggests that hedging ratios for
foreign equity assets were lower than those of
foreign debt assets, which is also consistent
with the results of the 2013 National Australia Bank Superannuation FX Survey (NAB Survey; NAB 2013).
How can U.S. labor compete
with foreign labor when employees and their employers are obliged to pay such high mortgage
debt for its housing, such high student
debt for its education, such high medical insurance and Social Security (FICA withholding), such high credit - card
debt — all this even before spending on goods and services?
In contrast to banks and other financial corporations, the non-financial sector's
foreign currency liabilities have risen since 2009, consistent
with an increase in borrowings in
foreign debt markets by larger corporations (particularly in the mining sector).
For the United States, on the other hand, a «new Bretton Woods» means a plan to wipe out the U.S. Treasury
debt and replace it
with «paper gold,» that is, IMF notes for
foreign central banks to trade among themselves, to be exchanged for claims on the U.S. Treasury and hence on the U.S. economy.
While
foreign interest in the loonie bodes well for Canadians who shop south of the border, it will also jolt Canada's fixed - income markets as reserve managers buy liquid
debt securities
with the Canadian dollars they own.
See Risks for a discussion of risks associated
with investments in
foreign sovereign
debt.
The rise in payments on
debt is consistent
with the growth in the stock of Australian
foreign debt, while the increase in payments on equity coincides
with a period of strong growth in Australian corporate profitability.
But even if the ECB does bend to the will of the bond markets this year, and begins to buy sovereign
debt directly, the single currency is left
with all of the same weaknesses that existed prior to the crisis: the inability to tailor interest rate policy for each individual economy, the lack of
foreign currency adjustment needed to offset differences in competitiveness, and growth - limiting trade dynamics throughout the area.
It is an inflow of
foreign money, skilled labor and imported goods that are paid for only
with paper dollar -
debts.
Australian companies are keen to source
debt locally to avoid expensive
foreign exchange costs and are looking to develop lending relationships
with the large superannuation funds.
In the 1980s, when the sharp rises in
foreign debt and its servicing costs were occurring, the Australian economic debate was, not surprisingly, pre-occupied
with these issues.
The valuation impact on US dollar and
foreign - denominated assets would hurt Americans
with foreign assets or foreigners
with dollar - denominated
debt.
The yuan's top coincided
with the beginning of the «tapering» of the Fed's QE3
debt monetization program and the peak in China's
foreign exchange reserves at just below $ 4 trillion.
Net
foreign liabilities rose in the March quarter,
with a $ 6.9 billion increase taking the stock of net
foreign liabilities to $ 323.0 billion (59.9 per cent of GDP); net
foreign debt now stands at $ 224.5 billion (41.6 per cent of GDP).
Less growth in dollar liquidity ahead may cause a scramble among
foreign entities
with dollar denominated
debt to obtain dollars in the short term to pay it back.
Interest payments to
foreign holders of Australian
debt rose broadly in line
with growth in the stock of
debt, while payments on
foreign holdings of Australian equity rose sharply (see Box C for a more detailed discussion of Australia's net income deficit).
The Federal Reserve Bank of New York may ask
foreign lenders for more detailed daily reports on liquidity as the U.S. steps up monitoring of risks from Europe's sovereign
debt crisis, according to two people
with knowledge of the matter.
Capital Markets Corporate
Debt As Russian companies strive to cope with higher borrowing costs and a shortage of dollars and euros to repay foreign debt, emerging markets bonds are coming under increasing scrutiny by invest
Debt As Russian companies strive to cope
with higher borrowing costs and a shortage of dollars and euros to repay
foreign debt, emerging markets bonds are coming under increasing scrutiny by invest
debt, emerging markets bonds are coming under increasing scrutiny by investors.
Examples of these risks, uncertainties and other factors include, but are not limited to the impact of: adverse general economic and related factors, such as fluctuating or increasing levels of unemployment, underemployment and the volatility of fuel prices, declines in the securities and real estate markets, and perceptions of these conditions that decrease the level of disposable income of consumers or consumer confidence; adverse events impacting the security of travel, such as terrorist acts, armed conflict and threats thereof, acts of piracy, and other international events; the risks and increased costs associated
with operating internationally; our expansion into and investments in new markets; breaches in data security or other disturbances to our information technology and other networks; the spread of epidemics and viral outbreaks; adverse incidents involving cruise ships; changes in fuel prices and / or other cruise operating costs; any impairment of our tradenames or goodwill; our hedging strategies; our inability to obtain adequate insurance coverage; our substantial indebtedness, including the ability to raise additional capital to fund our operations, and to generate the necessary amount of cash to service our existing
debt; restrictions in the agreements governing our indebtedness that limit our flexibility in operating our business; the significant portion of our assets pledged as collateral under our existing
debt agreements and the ability of our creditors to accelerate the repayment of our indebtedness; volatility and disruptions in the global credit and financial markets, which may adversely affect our ability to borrow and could increase our counterparty credit risks, including those under our credit facilities, derivatives, contingent obligations, insurance contracts and new ship progress payment guarantees; fluctuations in
foreign currency exchange rates; overcapacity in key markets or globally; our inability to recruit or retain qualified personnel or the loss of key personnel; future changes relating to how external distribution channels sell and market our cruises; our reliance on third parties to provide hotel management services to certain ships and certain other services; delays in our shipbuilding program and ship repairs, maintenance and refurbishments; future increases in the price of, or major changes or reduction in, commercial airline services; seasonal variations in passenger fare rates and occupancy levels at different times of the year; our ability to keep pace
with developments in technology; amendments to our collective bargaining agreements for crew members and other employee relation issues; the continued availability of attractive port destinations; pending or threatened litigation, investigations and enforcement actions; changes involving the tax and environmental regulatory regimes in which we operate; and other factors set forth under «Risk Factors» in our most recently filed Annual Report on Form 10 - K and subsequent filings by the Company
with the Securities and Exchange Commission.
With the weakening of the lira against the dollar, the private sector will have a harder time repaying its
foreign currency - denominated
debt, S&P said, adding this would negatively impact government
debt — 40 percent of which is denominated in
foreign currency.
Resentment is growing not only towards those who ran up the
debts — Iceland's bankrupt Kaupthing and Landsbanki,
with its Icesave accounts, and heavily geared property owners in the Baltics and central Europe — but also towards the
foreign advisers and creditors who put pressure on these governments to sell off the banks and public companies to insiders.
Resentment is growing not only toward those who ran up these
debts — Iceland's bankrupt Kaupthing and Landsbanki
with its Icesave accounts, and heavily
debt - leveraged property owners and privatizers in the Baltics and Central Europe — but also toward the neoliberal
foreign advisors and creditors who pressured these governments to sell off the banks and public infrastructure to insiders.
One danger to the Christian revolt is that it will enter into alliance
with forces whose aims and strategies are so
foreign to its own that when the common Victory is won — if won it can be — the revolutionary church will be left
with the sad reflection that it supplied the «Fourteen Points» which gave specious sanctity to an outrageous peace and that its fruits of victory are an external prosperity based on rotting foundations and
debts which it can not collect without destroying its own life.
«As of May 2011 the largest single holder of U.S. government
debt was China,
with 26 percent of all
foreign - held U.S. Treasury securities (8 % of total US public
debt).»
The
foreign debt continues to be an issue and new voices have began to sound the need to look for ways to face it; (ii) At the national level two questions are concentrating increasing attention: one is the reassessment of the necessary role of the state to correct the distortions of a runaway market (currently discussed in Europe and in the discussions about the role the initiatives of «an active state has played in the economic development of Asian countries); the other is the need for a «participative democracy over against a purely representative formal democracy: in this sense the need to strengthen civil society
with its intermediate organizations becomes an important concern; (iii) the struggle for collective and personal identity in a society in which forced immigration, dehumanizing conditions in urban marginal situations, and
foreign cultural aggression and massification in many forms produce a degrading type of poverty where communal, family and personal identity are eroded and even destroyed.
«We inherited an economy
with declining revenue and GDP growth, raising inflation, weekly balance of payment, declining
foreign reserved, raising public
debt, capital market and raising unemployment.
Tax Overhaul — Motion to Concur — Vote Passed (224 - 201, 7 Not Voting) Brady, R - Texas, motion to concur in the Senate amendment to the tax overhaul that would revise the federal income tax system by: lowering the corporate tax rate from 35 percent to 21 percent; lowering individual tax rates through 2025; limiting state and local deductions to $ 10,000 through 2025; decreasing the limit on deductible mortgage
debt through 2025; and creating a new system of taxing U.S. corporations
with foreign subsidiaries.
The bill would revise the federal income tax system by lowering the corporate tax rate from 35 percent to 21 percent; lowering individual tax rates through 2025; limiting state and local deductions to $ 10,000 through 2025; decreasing the limit on deductible mortgage
debt through 2025; and creating a new system of taxing U.S. corporations
with foreign subsidiaries.
Policies imposed by the International Monetary Fund, whose loans most nations seek as a last resort, are designed to accumulate
foreign exchange
with which to repay
debt.
The Progressive: Interview
with Wangari Maathai In this 2005 Q&A, Maathai speaks about U.S.
foreign policy,
debt forgiveness and breaking the cycle of poverty.
Foreign money — institutions, pensions, sovereign wealth funds, money managers, retail — will continue to grab the remaining A-rated
debt with a positive yield.
And lower deficits do allow for greater savings after all: total
foreign reserves as a percent of external
debt has more than tripled,
with the average country holding close to one unit of
foreign reserves for every unit of externally issued
debt.8 And a major concern, sticky current account deficits, continues to pose problems for some countries, but the average deficit has shrunk.
The BofA Merrill Lynch Index tracks the performance of U.S. dollar - denominated investment grade government and corporate public
debt issued in the U.S. domestic bond market
with at least 1 year and less than 10 years remaining maturity, including U.S. treasury, U.S. agency,
foreign government, supranational and corporate securities.
At any rate, the issue
with foreign EU borrowers simply adds to the already caustic issue that is Uk student
debt.
The Funds are subject to the same risks as the underlying funds and exchange - traded funds in which they invest including the risks associated
with small companies,
foreign securities, emerging market,
debt securities, lower - rated and non-rated securities, sector emphasis, short sales and derivatives.
If you are an Australian resident and you (or any associate entities) have certain international dealings, overseas interests, or if you are a
foreign resident, the thin capitalisation rules may apply if your
debt deductions, such as interest (combined
with those of your associate entities) for 2015 — 16 are more than $ 2,000,000.
The first stock I bought, Stone Harbor Emerging Markets Income Fnd (NYSE: EDF), is a closed - end fund
with most of its holdings in public and private
foreign debt.
Contributing to this pessimistic outlook, increasing numbers of
foreign students from the EU are leaving the country without resolving their student
debt, leaving the taxpayers
with the bill.