Word: allowances
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...Chinese companies. This step will likely increase the use of yuan in Hong Kong, one of the world's premier financial centers. (The program also solidifies Hong Kong's role as China's chief financial hub.) This step follows a series of "swap agreements" concluded with foreign countries that allow their central banks to acquire yuan for use in trade with China. So far this year, the Chinese central bank has inked six such agreements - with nations including Argentina, Malaysia and Indonesia - totaling 650 billion yuan ($95 billion...
Blue-Collar Blues The crisis has hurt 20-somethings without college degrees even more. In Vigo's unemployment office, people of all ages and backgrounds come by to get the stamp that allows them to receive unemployment payments, but it's hard not to miss the heavy predominance of blue-collar workers under 30. Manuel Bao, 24, has worked as an electrician since he was 18 - his contracts were never permanent but there was enough work to keep him busy. Now that the construction industry has gone bust, he's out of work - and about to run out of unemployment...
...essential for that. Europe, for its part, needs to rebut criticism that the West has been weak in the face of the clampdown in Iran. More strident or active support for the Iranian opposition would harm it, just as new U.S. sanctions now would do little more than allow Ahmadinejad to claim that the West is as hostile to Iran's people as he has always maintained...
...Washington A Delicate Step Forward for Stem-Cell Research In an effort to balance ethics and scientific advancement, the Obama Administration announced new guidelines for embryonic stem cells that could dramatically expand taxpayer-funded research. The rules, released on July 6 by the National Institutes of Health (NIH), allow federal spending to study existing stem-cell lines, provided the embryos were freely donated and meet other ethical requirements. Stem cells derived from human embryos can grow into a wide range of organs and tissues; scientists believe they hold great promise in curing diseases, though critics believe embryo destruction is morally...
...clean rooms for emerging green technologies. These days, it generally takes about six months of weekend classes to get qualified to be a solar installer, a job that can pay up to $16 an hour. But starting in August, a compressed weekday program - catering to the recently unemployed - will allow students to cram the same courses into just two months. To earn an associate degree focusing on renewable energy - enough prep for a job as a solar-installation-team leader, which can pay up to $28 an hour - an ACC student has to take a total of 69 credit hours...