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Michelle Obama's veggie garden is ready for winter
Wed, 16 Dec 2009 18:27:31 -0000
First lady Michelle Obama's vegetable garden is ready for the winter.
Train kills Ohio student, injures second near school
Wed, 16 Dec 2009 18:24:25 -0000
An Amtrak passenger train struck two high school Ohio students crossing some tracks as they walked to school, killing one and ...
Debate over rebuke for S.C. governor gets emotional
Wed, 16 Dec 2009 18:20:26 -0000
South Carolina lawmakers got emotional Wednesday as they debated whether to recommend impeachment or a formal rebuke over Gov. ...
The Economist: News analysis
Yegor Gaidar: A reformer dies
Wed, 16 Dec 2009 09:22:48 -0000
Yegor Gaidar, the father of Russia’s economic reforms, has died aged 53FEW people make such a difference. In 1991 Yegor Gaidar took responsibility for one of the worst messes in the history of economics, in the largest country in the world. The Soviet planned economy had collapsed amid grotesque shortages of everything from food to matches. Queuing for essential goods took many hours. Hard currency reserves had vanished, international trade had all but stopped. Few Russians had the faintest idea of how capitalism worked—and nobody knew if it could be made to work in Russia. Unfazed, Mr Gaidar seized the moment, first as deputy prime minister in charge of economic reform, then, briefly, as finance minister, and finally as acting prime minister. His most momentous decision was to liberalise all prices on New Year’s Day 1992. It was astonishingly risky. A generation’s savings would be rendered visibly worthless (though their real value had been destroyed by the demonetisation of the economy in the late Soviet era). The only hope was that real prices would bring real money, allowing supply and demand to meet each other. In the first week of January, Mr Gaidar and his tiny team of reformers watched with increasing exuberance as impromptu street markets multiplied in Russia’s towns and cities. Instead of hoarding consumer goods and raw materials, people started trying to sell them. In his few months in power, Mr Gaidar and his team demolished the Soviet economy and laid the foundations of capitalism in Russia. ...
Microsoft and antitrust: The end, sort of
Wed, 16 Dec 2009 07:53:11 -0000
Microsoft settles a long-running antitrust case with Europe's competition commissioner“TO HECK with Janet Reno”, said Steve Ballmer, now Microsoft’s boss, after America’s attorney-general dared to go after the software firm in 1997 for abusing its Windows monopoly to smother Netscape, a now defunct browser firm. These words marked the beginning of what was to become probably the most spectacular antitrust case in the computer industry so far. The dispute later spread to Europe.On Wednesday December 16th the case at last came to an end. Neelie Kroes, Europe’s competition commissioner, announced that she had reached a settlement with the software giant. Starting next March, in Europe at least, all versions of Windows will come with a “choice screen” rather than just an already-installed version of Microsoft’s Internet Explorer. This will list 12 web browsers, including Microsoft’s and those provided by competitors. Computer users will be able to pick their favourite. ...
The Copenhagen talks: Seeking compromise
Tue, 15 Dec 2009 06:44:49 -0000
Slow, if any, progress is being made at the Copenhagen climate-change talksTHE Copenhagen climate conference is supposed to be making a fresh start, as ministers and heads of government prepare to arrive in the Danish capital in the coming days. Instead, it has endured a fresh stall. The meeting was to focus on two sparkling new texts that are notable at least for their concision. The draft statement for one of the two main “tracks” of discussion (on long term co-operation) has shrunk from 179 pages at the beginning of last week to six.But on Monday December 14th progress on the substantial discussions stuttered, more or less, to a halt as poorer countries, grouped as G77 and China, walked out temporarily. By the time things had started again some of the sessions were facing their first late-night negotiations. There will be a lot more. ...
Dubai : Saving the day
Mon, 14 Dec 2009 12:07:08 -0000
Abu Dhabi rescues Dubai after allDUBAI, one of seven members of the United Arab Emirates (UAE), is now in the middle of its international film festival, which includes “City of Life”, a film set in Dubai and directed by a local. But the most gripping cliff-hanger is playing out in Dubai’s debt markets. On Monday December 14th Abu Dhabi, the wealthiest member of the UAE, arrived on the scene at the last moment to rescue its neighbour from the brink of default.It provided $10 billion to Dubai’s government, more than enough to repay the $4.1 billion due on Monday to holders of a sukuk, or Islamic bond, issued by Nakheel, a prominent developer. Nakheel belongs to Dubai World, a holding company owned by the Dubai government, which less than three weeks ago requested a standstill on repayments of $26 billion of debt, perplexing investors and panicking global markets. ...
Italian politics: Battered Berlusconi
Mon, 14 Dec 2009 06:02:54 -0000
Italy reacts to an assault on the prime minister, Silvio BerlusconiFAMOUS politicians are occasionally pelted with eggs or shoes. But the attack on Italy's prime minister, Silvio Berlusconi, on Sunday December 13th was of an entirely different order. As he mixed with a crowd after a rally in Milan a man hurled a plaster souvenir—a model of the city's cathedral—at him from just a few feet away. Mr Berlusconi fell to the ground and when he re-emerged into view his face was smothered with blood.The 73-year-old prime minister had suffered what one doctor later called “classic boxer's injuries”. He had a broken nose and cuts on his lips, one of which needed stitches. Two of his teeth were broken and he had a nasty gash just below his left eye. His doctor said he would need about three weeks to recover fully. Mr Berlusconi’s spokesman described him as “tired and suffering”. It was expected that he would leave hospital on Tuesday. ...
The coming days: The week ahead
Sun, 13 Dec 2009 11:00:44 -0000
The Copenhagen summit on climate change concludes• AFTER long days of discussions, disagreements, threats to leave and horse-trading the Copenhagen climate talks are set to end on Friday December 18th. Around 100 world leaders are scheduled to arrive in the Danish capital for the last days of the event, when they should put their seals of approval on any agreement that has been thrashed out on emissions reductions and other measures to mitigate global warming. Although it is accepted that a legally binding deal cannot be struck, a political agreement is expected that might make way for a legal one next year. See article• NATO’S secretary-general, Anders Fogh Rasmussen, begins a short visit to Russia on Tuesday December 15th. Relations between NATO and Russia appear to be improving slightly despite differences over European security, Georgia and the military block’s eastward expansion. Barack Obama abandoned plans for a controversial American missile shield in Poland and the Czech republic in September and the highest-level meeting between officials of NATO and Russian since the invasion of Georgia took place at the beginning of December. See article ...
