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...Tuesday it?s the FOMC, and although we know about the quarter-point (or think we do) what still bears parsing is the Fed?s accompanying statement, which will hopefully contain some accompanying logic (sadly lacking in June) for why Greenspan and the gang have officially slowed their easing pace to 25-point increments...
...There are many theories as to why China curtailed its maritime aspirations in the mid-15th century. The simplest is that the Confucians prevailed. The imperial bureaucracy sought to contain the expansionary ambitions of its sailors and the increasing power of its merchant class: Confucian ideology venerates authority and agrarian ways, not innovation and trade. "Barbarian" nations were thought to offer little of value to China. Other factors contributed: the renovation of the north-south Grand Canal, for one, facilitated grain transport and other internal commerce in gentle inland waters, obviating the need for an ocean route...
...turns out that only websites, not users, can catch Code Red. And not much happened even to them. The biggest damage was done to a Pentagon public website, which was slowed down a bit. The Pentagon site, upon investigation, doesn't contain much in the way of sensitive material, other than the somewhat surprising fact that Pentagon employees consume 1,700 pints of milk each day. Pints of milk that are, no doubt, $40 each...
...business in Africa. Women - and some men - across the continent have long used creams and potions to make their skin a few shades lighter in the belief that it makes them more attractive. But the quest for beauty carries a heavy price. Many of the most popular creams contain hydroquinone, which can cause irreversible skin damage and even lead to skin cancer. Some creams also contain potentially lethal mercury, banned in cosmetics since the 1970s. But the creams remain as popular as ever despite government prohibitions in a dozen African countries. "As long as there's a demand there will...
...meeting in Geneva claimed it would not achieve its goals and would damage American interests. SPAIN Tourists Targeted Police in the southern tourist resort of M?laga defused a powerful car bomb planted by the Basque separatist organization ETA. The group had telephoned a warning that the bomb, which contained around 60 kg of explosives, had been left in the city's airport car park. Popular tourist destinations were on alert after suspected ETA member Olaia Castresana blew herself up as she handled explosives in the Mediterranean resort of Torrevieja. MACEDONIA Back from the Brink Dangerously close...