Word: eighting
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...surprise, in light of the global economic recession, that the world's richest nations have failed to deliver much of the aid they promised Africa four years ago. But campaigners are not letting the Group of Eight (G-8) industrialized countries off the hook. According to ONE, an advocacy group founded by U2 singer Bono, most of the blame for the shortfall in pledges made at the high-profile Gleneagles summit in 2005 rests on just two countries - Italy and France. Italy, which next month hosts a summit of G-8 leaders, has delivered a minuscule 3% of the amount...
...while figures such as Geldolf and Bono continue to try to shame the wealthy of the world into giving to the poorest, some tough economic realities are likely to intervene when the eight richest leaders converge in Italy to crunch the numbers for African...
...continuing function, the 700-seater auditorium having been beautifully restored as a venue for film festivals and conferences. The thickly carpeted guest rooms are meanwhile individually designed with impeccable Swedish taste. Comfort, rather than any showbiz excess, is the keynote - an approach exemplified by the choice of eight different pillow types, and the noticeably informal dining options (a café and a bakery). It isn't all money, money, money, either. Rates start from about $180. See www.rival.se for more...
...TIME spoke to in Pikalyovo - are playing out at checkout counters in shops all over town. "People are only buying the cheapest brands. It's like they don't believe the change will last," says Oksana Gavrilova, a staunch Putin supporter who had worked at the EuroCement factory for eight years before she was laid off. Leaning down into a nearly empty cooler to grab a kielbasa, she says, "Without the factories, Pikalyovo is nothing...
...second largest dollar drop on record, after March's $16.6 billion decline. Numbers from April show that people are now saving 5.7% of their disposable income, the highest rate in 14 years. Second, people are shirking their obligations. According to the Mortgage Bankers Association, one in eight U.S. mortgages is now in either delinquency or default. Banks are figuring that nearly 10% of the money they're owed from credit cards is money they'll never see. "People were consuming more than their income, and that gave a big boost to the U.S. economy," says Kevin Lansing, a senior economist...