DIE WELT (Germany) Worldcrunch BERLIN – Lufthansa is planning to launch a fourth class on long distance flights: Premium Economy Class. The entire long-haul fleet would be equipped with the new cabin, according to Die Welt. The company released a statement saying that its supervisory board had agreed to invest in an “introductory project” that […]
Tag: economy
BOGOTA – Last month marked the third time in a half-century of armed conflict that the FARC rebels and Colombian government started a bona fide peace process. Colombia faces more than one threat to public safety, but the fight against the FARC insurgence is the most burdensome for the military budget, which surpassed 3.7% of […]
MASISI – Every day at 6 a.m., a parking lot near a roundabout in this northeastern Congo city fills with minibuses, motorbikes and heavy cargo trucks. The atalakus (ticket sellers) shout out names of destinations: “Masisi! Nyabiondo!” Passengers board with their packages: manufactured goods, drinks, salted fish…Everyone is pushing each another, trying to get the […]
LA STAMPA, LA REPUBBLICA, CORRIERE DELLA SERA (Italy) Worldcrunch ROME – Italy’s struggling economy appears to have at least one good shot at bouncing back: immigrant entrepreneurs. According to La Stampa, the businesses of non-EU immigrants account for 5.7% of Italy’s GDP. Confesercenti, the Italian association for small and medium businesses, says the number of […]
WASHINGTON D.C. – As the campaign draws to a close, the American people have been hit by a barrage of promises of a better, more civil future. The two candidates have vowed, even sworn, that they will work harder with the opposition. Mitt Romney mentioned it first in one of his advertisements and confirmed it […]
BEIJING – At the final debate between Barack Obama and Mitt Romney, which was focused on foreign policy, the subject of the rise of China was clearly on the agenda. But when the moderator posed the question: “What do you believe is the greatest future threat to the national security of this country?” Obama cited […]
NEW YORK – In the focus groups he organizes to understand American voters, Democratic Party pollster Stan Greenberg says lately participants have actually broken down emotionally when answering questions about their lives. “Three-quarters of the population are struggling. Families are overwhelmed, salaries have decreased by 20% and health benefits are falling,” Greenberg, co-author of the […]
PARIS – In the United States, “China bashing” is in full swing. Denigrating China has been a mainstay of the American presidential campaign, in a time of economic one-upmanship between Washington and Beijing. During the final televised debate, devoted to foreign policy, Republican candidate Mitt Romney once again accused Beijing of manipulating its currency and […]
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Swiss Bank UBS Slashes 10,000 Jobs
LE TEMPS (Switzerland), THE FINANCIAL TIMES (UK) Worldcrunch ZURICH – Swiss bank UBS officially announced Tuesday it is cutting 10,000 jobs worldwide after losing $42 billion during the financial crisis. The Zurich based bank, which currently employs 64,500 people, is aiming to reduce its workforce by 2015, Swiss daily Le Temps reports. The bulk of […]
CAIRO – As Egypt struggles to emerge from a period of deep financial uncertainty; government officials are looking towards the country’s vital shipping artery — the Suez Canal — as a major source of revenue and jobs. Officials from several government ministries have announced massive public-private partnerships aimed at developing the region. The hope, they […]
-Editorial- BEIJING – In response to a letter sent by a women’s rights NGO regarding quota on enrollment of women in certain colleges and universities, China’s Education Ministry said that this restriction was based on “considerations of national interest.” The officials probably thought they would subdue any unruly voices with such a pompous answer. However, […]
LISBON – Manuela, an animal rights activist, is standing outside the entrance to the Entrecampos train station in Lisbon, calling out to the occasional passersby, who pretend they don’t see her. The majority of the shops in the station’s arcade are empty, and even though the building is new, there is a feeling of neglect. […]
LES ECHOS (France) Worldcrunch A study published this week by two economists for the German Bertelsmann Foundation says that if Greece defaults on its debts and leaves the euro zone, it would cost the world’s major economies 17.8 trillion euros by 2020, and cause a severe worldwide depression, reports French business newspaper Les Echos. Greece’s […]
BERLIN – Despite considerable efforts, the economic gap between eastern and western Germany is not shrinking fast enough. While the East is indeed becoming more dynamic, it still lags far behind the West, according to the 2012 statistics compiled by the Initiative for a New Social Market Economy (INSM), which ranks German states for dynamism […]
SANTIAGO – The U.S. Federal Reserve’s recently announced stimulus package, designed to strengthen the American economy, offered a clear reminder of the huge gap that exists today between Mexico and the rest of Latin America. While Mexico enthusiastically applauded the Fed’s decision to begin pumping $40 billion per month into the U.S. economy through the […]
EL PAIS, LA VANGUARDIA, EL MUNDO (Spain) Worldcrunch MADRID – Protesters called for a new round of demonstrations Wednesday after a day of clashes with riot police on the streets of Madrid. The latest toll from the violence is 35 people arrested and 64 wounded, according to La Vanguardia. The 2 most tweeted Photos of […]
BERLIN – She was an icon of glamour and beauty. But Marilyn Monroe also knew how to appreciate the timeless value of compressed carbon. When she sang “Diamonds are a Girl’s Best Friend,” she was offering a not-so-subtle investor tip to bank on the precious stones. These days, with the euro crisis, investors are increasingly […]
It is a variant of the classic East-West confrontation. And in the conflict pitting Samsung against Apple, the Asian technology giant versus the American one, you ain’t seen nothing yet. Apple won the first round when a Californian court sentenced Samsung to pay more than $1 billion of compensatory damages for infringing patents. But the […]
BORDEAUX – The sale of the Château de Gevrey-Chambertin at the end of August has revived the specter of France’s vineyards being transferred en masse into the hands of Chinese billionaires. However, in the Bordeaux region itself, these new investors seem to be rather well received by professionals in the field. Until August 22 of […]
BILD (Germany), CHANNEL 4 NEWS(UK), ATHENS NEWS (Greece) Worldcrunch Greek Prime Minister Antonis Samaras is meeting with eurogroup leader Jean-Claude Juncker in Athens on Wednesday, after asking “more time for cuts” in an interview with German publication Bild. Mr. Samaras rejected the possibility of an exit from the euro zone and a return to the […]