Word: contractive
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...Like scores of other Taiwan companies, HTC and Asustek have been laboring in obscurity for years as contract manufacturers, building and in some cases designing PCs, music players, cell phones, LCDs and video games on behalf of well-known brands such as Hewlett-Packard, Motorola and Apple. Taiwan's heavy concentration of contract manufacturers makes the country a high-tech powerhouse - but the business model has its limits. Because they work for others, contract manufacturers have little pricing power and don't reap the higher profit margins commanded by companies like Sony and Samsung. "There are very slim margins...
...until last year the President's son Hu Haifeng, is the focus of a corruption investigation in Namibia. Investigators in the African nation have reportedly requested that the 38-year-old Hu testify as a witness (though not as a suspect) in a probe into how a lucrative government contract was won by Nuctech, a maker of security-screening devices used in airports and seaports. News of the investigation is so sensitive in China that tight controls imposed on the Internet have been tightened even further. Chinese social-networking sites were blocked (access to overseas sites such as Twitter...
...ller-BBM, a leader in its field, had been hired at the start of the reconstruction to bring the theater's acoustics back to their former glory. However, in the past few months, as the financial crisis has torn through Russia, Vedernikov learned that the firm's contract had not been renewed. A Russian institute without Müller-BBM's expertise has been brought in to carry out the work instead - a move to which the music director is vigorously opposed. "When I hear [Moscow Mayor Yuri Luzhkov say] that it is very important to open the theater...
...plus side, there was some improvement in commodity prices in May - but it was more than offset by an appreciating currency and lower export volumes, which crushed trade receipts. As a result, second-quarter GDP is expected to contract 3.1% on an annualized basis, according to the Toronto-based investment dealer CIBC World Markets. "I wouldn't be surprised if June was as bad as May," says CIBC economist Krishen Rangasamy, referring to Canada's trade deficit. He expects the country's balance of trade to begin improving in the fourth quarter, with annualized GDP growth...
That, in turn, fuels the profound sense of frustration and hopelessness shared by millions of young Europeans as the recession tightens. In some ways, the good years have made things worse. Lorena Domínguez, the unemployed automobile worker in Vigo, never had a permanent contract at Citroën, but there were years when she was earning good money, and she expected that the firm would offer her a permanent contract one day. The future seemed full of promise and rising living standards. Now she spends her time looking for work waiting tables, selling insurance, cleaning offices. "My generation...