Worldcrunch
BERLIN — They hardly had to beg Renate Künast. The chairwoman of Germany’s Alliance 90/Greens parliamentary group and former minister of Consumer Protection, Food and Agriculture was thrilled to open last week’s Ethical Fashion Show in Berlin. It’s right up her alley. “This is a countermovement to mass production,” she says. Slow Fashion instead of […]
Rising prices in the developing world will eventually usher in a whole new paradigm on global currency markets.
In most countries black-market work is not an exception, but the norm. A recent study comissioned by the Institute of Economic Affairs (IEA) revealed that the shadow economy was booming. Illicit economic activities constitutes between 20 to 30% of GDP in many southern European countries. An estimated two billion people work for this global black […]
HERZOGENAURACH – The thing with the brush shoes gets Helmut Fischer going to this day. The small man with the friendly smile and pirate goatee sits in the visitors’ room of Puma Deutschland in the small, central German city of Herzogenaurach. Around here, Fischer is known as “Mister Puma.” The 63-year-old has been working for […]
Protests with similar roots continue in Brazil and Chile, two nations that might seem from the outside to be primed to enjoy their respective economic and democratic expansions.
BRUSSELS – You know, those spy movies of some bespectacled hero photographing secret files, looking up every few seconds to make sure there’s not a burly KGB agent around. One executive from the Degussa chemistry group found himself in such a scene in 2002, entering a fancy Zurich building with a camera in his hand, […]
Beyond the playboy billionaires and international tax dodgers, people work regular jobs in this slice of Mediterranean paradise.
MOSCOW – Earlier in June, during the last congress of the All-Russia People’s Front, a movement created by President Vladimir Putin in 2011, Putin announced that one of his primary goals was to create a new era of industrialization in Russia. Russia’s Minister of Economic Development Andrey Belousov announced in the same meeting that by […]
Global Trade Alert has just published its 2013 report on international trade, and raised the alarm on “Protectionism’s Quiet Return.” In the cross-hairs of this free-trade advocacy group are the G20 countries, which have been taking more and more protectionist measures since the financial crisis broke out in 2008. From the anti-dumping EU measures on […]
Worldcrunch Over the past year, China’s outbound investment set new records. Although North America jumped to the forefront of Chinese business activity, it is likely to be temporary: Chinese companies move as a group from region to region, from sector to sector, according to a survey by the Heritage Foundation. Wine, treasury bonds, soy, ports… […]
PARIS – Baptiste Langlais shows off his new watch proudly. “In my sector, we like beautiful mechanics,” jokes the car salesman from the Paris region. His latest whim? An 8,500-euro Jaeger-LeCoultre wristwatch. “A big investment, especially these days,” he admits. But he has found a way to reconcile reason and passion. Launched a few months […]
ROME – Italy won’t be the new Saudi Arabia, but few realize that it does have its own small treasure trove of oil and natural gas, underground and under the seabed. There is, however, one condition required to benefit from it – not saying “No, grazie!” Italians will only see the gushing of oil and […]
RABAT – Like Asia did in the second half of the 20th century, Africa can move up to the economic big leagues only if it can manage to industrialize and learn to increase its productivity. The future of the continent as a whole, notes economist François Fadi Farra, will not depend on one single economic […]
BERLIN – The shock came in his first year of training. His employer – the BMW motorcycle factory in Berlin-Spandau – asked Johann Gundel to don a strange suit: the “age suit,” with weights in it. Gundel could hardly move in the suit. His joints stiffened, and every step was an effort. Gundel, blond, slim […]
HINDUSTAN TIMES, INDIA TODAY, TIMES OF INDIA (India), REUTERS, AFP, BBC Worldcrunch DELHI – Figures were released Friday showing India’s economy grew at its slowest pace in a decade during the 2012-13 financial year. Low business confidence, slumping investment, high inflation and weak export demand from Western countries were blamed for the bleak performance, which […]
GENOA – How do you bring the Dolce Vita Italian lifestyle to the Chinese without actually landing in China? Well, the Costa Cruises company will be offering all the top Made-in-Italy food, fashion and style with a new around-the-world “Italian” cruise geared to a Chinese public. The Italian cruise line opened its doors to the […]
A French journalist upset by the shuttering of local book shops gets a temp job with Amazon, where only the “supermotivated” survive to work under conditions that violate labor codes.
Editor’s note: Following Beijing, the municipality of Guangzhou introduced passenger car purchasing restrictions last June in order to ease the traffic pressure. Each month a free lottery system is used to decide the lucky ones who get to buy cars. Another parallel system allows people to pay more by bidding for a car license. Public […]
ALGIERS – Since the first subway line opened in the end of 2011, it is much appreciated. “It is a lot easier to get to court,” explains Lydia, a young lawyer. She adds that the ticket fare (around 50 cents) is reasonable for the middle class, and the service beats collective taxis or having to […]
It was a symbol of the “sunshine policy” meant to ease tensions between the two Koreas. But now, the jointly-run Kaesong facility in North Korea has been shuttered. Maybe for good.
MOSCOW – Only a couple of years ago, government jobs were lucrative and only for the highest-ranking executives in Russia. But that is changing, and now the public sector is aggressively competing in the job market, offering competitive salaries and poaching talented employees from private companies. In Russia, unlike in Europe or the United States, […]
Roberto Azevedo comes from an emerging BRICS economy, where there has been more focus on bilateral commerce deals than wider trade agreements favored by the US and Europe.
–Analysis- BERLIN – At the Sankt Oberholz café, Germany’s future lies in the balance. Here, in Berlin’s “trendy” Mitte district, an international crowd of entrepreneurial 20 and 30-somethings meet. They make up two camps. On one side, you have those who prefer to speak English as they discuss their new projects and business plans. On […]
FRANCE 24, BLOOMBERG, REUTERS Worldcrunch BERLIN/PARIS – France slipped into recession while Germany’s economy expanded by a fraction, according to European economy data published on Wednesday. Statistics showed the forecasts for Europe’s two biggest economies were weaker than expected. The German GDP increased about 0.1% from the fourth quarter while the French economy contracted by […]
MONTBELIARD – The meeting point is located just outside the city limits of Montbéliard, in eastern France, on the parking lot of a fast-food restaurant. A few steps away is the front gate of the Peugeot car factory. Twenty people or so are waiting for the bus that will take them to the workshops of […]
After five long years of battle in court, Adidas has finally settled with Adivon, a Chinese sportswear company. The latter is to transfer its Chinese trademarks and the triangular logo to the German multinational and will not be allowed to use them again, in any store. Meanwhile, another unfinished lawsuit has aroused even more attention. […]
XINHUA NEWS, CHINA BUSINESS TIMES (China) Worldcrunch SHANGHAI – Not so long ago, the world’s luxury brands were enjoying the rapid development of the Chinese market, but since the end of 2012, this trend has taken a sharp downwards turn. As Xinhua News pointed out, even though in 2011 the GDP per capita in China […]
ZHEJIANG DAILY, ECONOMIC OBSERVER, HUBEI DAILY (China), CHINA TIMES (Taiwan) Worldcrunch BEIJING – Is Feng Shui a superstition or a true form of wisdom? A confessional article by a Chinese official published by the Zhejiang Daily recently sparked enthusiastic discussions among the Chinese public and press. “Put a screen at the entrance to block the […]
Yahoo! wanted to buy the video platform Dailymotion, owned by France Telecom. But with the French government opposed come reminders of what needs fixing in France’s startup world.
Once it was USA for Africa, now Ethiopia’s expats are returning to be part of a striving new middle class.
Real estate agents from the troubled Mediterranean country have identified potential buyers in China, looking for both cheap real estate, and EU residency. But buyer beware.
NEW DELHI – It is not hard to imagine how the French government (or their counterparts in Athens or Washington) would dream of such a thing: escaping the monthly stress of publishing unemployment figures. In India, the national jobless rate simply doesn’t get calculated, and the topic is virtually absent from media and political debate. […]
REUTERS Worldcrunch LONDON– The California-based search giant Google says it does not have a British presence. From 2006 to 2011, Google generated $18 billion in revenues from the UK, according to statutory filings, and paid just $16 million in taxes. If British tax authorities determined that UK-based employees sell to British clients, UK law could […]
ASUNCIÓN – Latin Americans are not the type to pass on a bargain, especially if it’s being offered by a neighbor. This is why Paraguay has been mercilessly milking all it can from the depreciation of the Argentine peso. This can be seen in the exchange rate between the two currencies – but also in […]
TAPACHULA – “I’ve come here to earn money, and then I’ll go back home…” Josefina Perez talks as she cuts coffee trees with a machete on the 617-acre Irlanda farm perched on the Tacana volcano in the Mexican state of Chiapas. Like this 40-year-old seasonal worker, more than 100,000 Guatemalans cross the border each year […]
RANGOON – Down Pyay Road, in the middle of a huge traffic-jam, children walk between old Japanese cars in the stifling heat and humidity. Like in other cities of emerging Asian countries, the children walk through the busy streets to sell soda cans and jasmine flower bouquets that are supposed to help cool down the […]
EL PAIS (Spain), GUARDIAN (UK), REUTERS Worldcrunch MADRID – Good and bad news arrived Thursday as Europe continues its struggle to emerge from a five-year-long economic crisis. Bad news first: Spain has again marked record-high unemployment figures, with a 27.2% jobless rate for the first quarter of 2013, the seventh straight quarter of rising jobless […]
SANTIAGO – Last year in London, engineers from Airbus presented their vision for the future: An airplane featuring a transparent roof that allows passengers to see the stars, with an air system that pumps antioxidants into the cabin air. If this audacious concept becomes reality in 2050 and the airline market remains more or less […]
SHANGHAI – For years, the People’s Republic of China has been carrying the German car industry through tough times. In 2012, German manufacturers sold a whopping 15.5 million motor vehicles in China, and no end to that record is in sight. In March 2013 alone they sold 1.4 million cars, a rise of 20%. The […]
PARIS – Should the 500 euros bill be taken out of circulation? A study by Merrill Lynch raised the question, and it is not a small question, as those bills comprise one-third of the total monetary value of bills currently in circulation, that is to say some 300 billion euros. Still, the bills are very […]