Word: downturns
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...While the shootings were the apparent spark of the riots, the global economic downturn was a more distant cause. With budgets tightening, the E.U. cut its aid to southern Italian farmers, reducing the need for manual labor. "The Mafia wants to earn the same profits, and the workers are becoming a burden," Saviano says. Authorities have also turned a blind eye to their problems. Rather than increase social services or workplace regulations, Prime Minister Silvio Berlusconi's administration has taken an increasingly popular anti-immigrant stance. About 1,000 of the African migrants in Rosarno were carted off to detention...
...month goes by without a new chapter in the increasingly bitter diplomatic sparring between traditional allies Turkey and Israel. Relations took a downturn a year ago, when Turkey's government forcefully criticized Israel's military assault on Gaza, and have since lurched from bad to worse. "One road accident, two accidents, three ... all of a sudden it starts to look as if they're not accidents - the road itself is the problem," says Turkish foreign-affairs commentator Cengiz Candar. "The Turkey-Israel love affair is over...
...Read "Iceland's Fashion Designers Flourish in the Downturn...
...Some markets still have further [down] to go, but we're definitely in the latter innings of the downturn," says David Goldberg, an analyst at UBS. "Even if there's another leg down, we definitely think by [late] 2010 we will have seen the bottom of housing...
...maker of mass-market products such as Tide detergent, Crest toothpaste and Ivory soap purchased the Art of Shaving in June for an undisclosed sum. P&G's move surprised some analysts, as it represented the company's first real foray into retail, which has struggled during the downturn. "You kind of wonder what they are doing here," says Linda Bolton Weiser, equity research analyst at Caris & Co. "When companies start to veer off their main focus, it often doesn't work...