Word: fasts
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...facing crippling cash shortages. On Oct. 9, U-Right, a clothing retailer with about 100 outlets in Hong Kong and another 500 in China, was forced to liquidate after it could not meet bank demands to repay its debts. Analysts say the company borrowed too much and expanded too fast in the rush to catch China's economic wave. As the global economy slows, that's likely to become a familiar refrain - and as a result, lenders are increasingly scrutinizing their customers' balance sheets and cash-flow statements for signs of stress that could lead to default. One Hong Kong...
...same. But under Iceland's current economic conditions, goes a joke doing the rounds, only one will put food on the table and a coat on your back (as long as you eat mutton and wear wool). With a flagging currency and a crippled banking industry, Icelanders are fast losing their jobs, savings and businesses. The government fears that some may even be losing their minds: a few days ago, the Icelandic Ministry of Health set up an emergency mental-health center in downtown Reykjavík to help citizens distressed by the nation's economic implosion. Located...
...hardly alone, which is bad news for the world's oceans. Partly because of the rising global demand for sushi, we're fast fishing out our seas, with some researchers estimating that if we don't change the way we harvest the oceans, all the commercial fisheries in the world could collapse as early as 2048. That could mean no more California rolls in your local supermarket...
...Aquarium, along with the Blue Ocean Institute and the Environmental Defense Fund, is coming out with pocket guides to sustainable sushi. The groups base their ratings on the health of a wild fish's population (the popular bluefin tuna is restricted), along with the impacts of fish-farming operations. (Fast-growing oysters can be farmed sustainably, but salmon can't.) They also take into account fishing practices: catching bigeye tuna with thousand-hooked longlines can result in the unintended death of nearby fish. The hope is that by voting with their chopsticks, consumers can motivate businesses to act more sustainably...
...medium term, the junior member of this alliance is financially unsound and, increasingly, politically powerless. Despite the threatening sound of this partnership for U.S. interests, it is clear that these unlikely allies came together out of fear: Whereas the Kremlin fears diplomatic isolation, Chavez fears his end may be fast approaching. What we should all fear is what a populist like Chavez will do with Russian weaponry at a time when he is desperate to remain in control...