Word: downturning
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...from indiscriminate rocket fire, its disproportionate response likely caused more harm than good.Meanwhile, Moscow rang in the New Year by shutting off gas supplies to Ukraine once again in a pricing dispute that has been heavily tinged by geopolitics. Eastern Europe, which has suffered heavily from the recent economic downturn, was further destabilized by this move. But the chilling news from Ukraine was offset by the announcement of a power-sharing agreement between the corrupt and ailing Mugabe regime in Zimbabwe and the opposition Movement for Democratic Change, led by Morgan Tsvangirai. President Mugabe, who was certified the winner...
...factories in Luton and Ellesmere Port in the U.K., which employ 5,000 workers. The British Business Secretary Lord Mandelson grumbled that Magna had been "vague about their job and business plans." There are also questions over the robustness of Magna, which has been hit hard by the global downturn. Magna said during the negotiations it would cut 10,000 jobs across Europe, with the axe falling on around 2,500 jobs in Germany, but Magna pledged to keep the four German Opel factories open. The Opel factory in the city of Bochum could be the worst hit, with...
...work on a new light-rail system scheduled to be completed by 2011. "We still need at least 20 years to develop infrastructure to catch up with developed countries," says Shen. "For China, the infrastructure projects are not only temporary measures to get the country out of the downturn but an opportunity to prepare for the economy to take off in the future...
Graft was rife in construction projects long before the current downturn. "Public spending is already subject to considerable siphoning off and, perhaps even more critically, waste," says Andrew Wedeman, a political scientist and Chinese-corruption expert at the University of Nebraska. During the boom years, such waste mattered less because growth was so robust. But if China's GDP expands only 6% to 8% this year, as some predict, corruption could dampen recovery. "What really matters is not if funds will be siphoned off or how much will be siphoned off," Wedeman says, "but rather whether the siphoning will have...
While many industries, including tattooing, have suffered as a result of the economic downturn, tattoo removal is actually on the rise, says Dr. Amy Derick, a dermatologist in Barrington, Ill., who studies tattoo remorse. "It may be that people want a fresh start or are starting a new job," she says. Or it may be due to heartache or better judgment. Beverly Hills' dermatologist Will Kirby says that tattoo removal customers have doubled from 20 to 40% of his business over the past year. "We've seen quite an uptick. We're busier than ever," notes Kirby...