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...America's exports. But it is also spooking holders of U.S. debt, whose continued purchases of U.S. Treasury bills allow Washington to fund its deficit spending. Last week, the International Monetary Fund (IMF) announced that the Reserve Bank of India had bought 200 tons of IMF gold reserves, the biggest single purchase by a central bank in 30 years. That pushed the price of gold past $1,100 an ounce, the latest record breaker in a string of new highs, as the market anticipated gold buying by other central banks to hedge against a falling dollar...
When they are rolling through the streets in strollers, toddlers are usually the ones throwing temper tantrums. Now it's their parents who are having the biggest fits. On Monday the U.S. Consumer Product Safety Commission (CPSC) announced a stunning recall of some 1 million Maclaren strollers that were released nationwide from 1999 through November of this year. Maclaren, the 42-year-old British brand, is wildly popular among the young-urban-professional set. The strollers are light, compatible and upscale but not terribly expensive (the recalled models cost from $100 to $360). (See the top 10 product recalls...
...cuts have been rendered unrealistic by the current economic climate. Falling real wages and low business investment mean Japan's recovery is fragile. A recent Nikkei newspaper survey showed that 38% of top Japanese executives rated the likelihood of another downturn next year as high or somewhat high. The biggest risk, cited by 69% of respondents, was "the effect of fiscal stimulus measures wearing off." Hatoyama appears to be willing to continue stimulus spending under the circumstances even if that means more red ink. He has learned a lesson from 1997, when Tokyo prolonged and deepened a recession by raising...
...provisions were weakened during the final weeks of negotiations, and the Sierra Club, for one, opposed the legislation, saying too little is being achieved. But frequent foes in the past, including the Westlands Water District, representing agribusiness, and the Metropolitan Water District of Southern California, the state's biggest urban supplier, came together to support the legislation. "No one is getting 100% of what they want," says Assembly Speaker Karen Bass, a Los Angeles Democrat, but "it is the only way to balance the many different individual interests for the overall greater good...
Confronted by growing evidence that sex between men is a significant driver of new HIV infections, the Kenyan government has shed a longtime refusal to acknowledge the existence of homosexuality and will launch a survey of gay attitudes and behaviors in its three biggest cities next year...