Word: downturned
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Saba Ashraf of law firm Troutman Sanders wrote in a notice to clients that the IRS's relaxation of overseas borrowing rules "continues the trend of taxpayer friendly guidance in light of the credit difficulties and economic downturn." Federal Assistance, Tax-Free...
...have a deserved reputation as the world's greenest, with firm carbon caps and a commitment to renewable energy. But that's not the whole story. Eastern European nations, like summit host Poland, remain dependent on heavy industries and polluting power like coal. And lately, given the severe economic downturn, Europe has edged away from its leadership on climate change. On Dec. 11, even as the U.N. summit has begun to heat up, the E.U. will meet in Brussels to vote on its ambitious 20-20-20 plan, which aims to reduce greenhouse gases continent-wide 20% by 2020, while...
...thought horizon. At some universities in Africa, students are literally fainting from hunger because they cannot afford both books and food. While African universities operate in crumbling buildings and lack sufficient computers, Harvard’s endowment now stands at nearly $30 billion, even after the recent financial downturn. Yet Harvard’s well-staffed development office still solicits alumni for dollars as if it were starving for cash: In fiscal year 2008, Harvard netted $651 million from alumni and friends...
...breakneck economic growth has brought its own problems. Modern China is not charming. Many of its towns and cities are desperately ugly and shoddily built, workers have few rights, and environmental disasters abound. As global demand contracts, China's export-led, manufacturing-heavy economy is now facing a sharp downturn. Moreover, the accepted narrative of China - that Deng opened up and modernized an old-fashioned and hermetic economy - needs much qualification. Recent historical research has stressed that China was modernizing and internationalizing fast, if imperfectly, in the half-century between the late Qing dynasty and the outbreak of war with...
...have interrupted Monday's meeting there to rebuke Gordon Brown for failing to invite Angela Merkel. Britain's Prime Minister was joined at the elegant mansion in London by French President Nicolas Sarkozy and E.U. Commission President Jose Manuel Barroso to discuss concerted European efforts to tackle the economic downturn, but there was no place at the table for the German Chancellor...