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In Spain it is not the big banks like Banco Santander or BBVA that funneled a lot of the mortgage lending. Its the Cajas or non profit lending instituions that do more than half of all the loans. The Cajas had $330 billion in loans to developers in Sept. 2009, up from $50 billion in 2000. As home prices plunge the 45 Cajas are suffering losses, amounting to estimated $3.4 billion in 2010.
In Spain it is not the big banks like Banco Santander or BBVA that funneled a lot of the mortgage lending. Its the Cajas or non profit lending instituions that do more than half of all the loans. The Cajas had $330 billion in loans to developers in Sept. 2009, up from $50 billion in 2000. As home prices plunge the 45 Cajas are suffering losses, amounting to estimated $3.4 billion in 2010.
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Original article 1 minute, gist 1 minute
LyrArc Article Gist
Eli Lilly is trying new methods to reduce time for developing new drugs for cancer and diabetes. One method is to complete trials for testing dosage and efficacy simultaneously saving 14 months. Two of 5 research units are focussed on cancer and diabetes and all departments turning molecules into medicine are located together. On Oct 23, 2011, the patent for $5 billion revenue schizophrenia pill Zyprexa expires.
Eli Lilly is trying new methods to reduce time for developing new drugs for cancer and diabetes. One method is to complete trials for testing dosage and efficacy simultaneously saving 14 months. Two of 5 research units are focussed on cancer and diabetes and all departments turning molecules into medicine are located together. On Oct 23, 2011, the patent for $5 billion revenue schizophrenia pill Zyprexa expires.
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Original article 1 minute, gist 1 minute
LyrArc Article Gist
Deflationary dangers in 2010 with core consumer prices falling 0.1% in January 2010.
Deflationary dangers in 2010 with core consumer prices falling 0.1% in January 2010.
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Original article 1 minute, gist 1 minute
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