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...government-debt-to-GDP ratio passes 90%, growth declines by at least one percentage point a year. For industrialized economies that rarely expand more than 2% or 3% a year, that's a huge chunk. "We're coming at a point in which growth prospects are really taking a hit," Reinhart says. Growth could also be restrained by the budget cuts necessary to narrow deficits and reduce borrowing. The effect could be felt for a protracted period. Jean-Luc Schneider, a deputy director of the economics department at the OECD in Paris, says some countries will take as many...
...Ethiopians and - says Abdirashid Mohamed Hiddig, a Somali Member of Parliament who assisted the Americans - captured 10 to 20 foreign fighters. Since then, according to Pentagon spokesmen, the U.S. has carried out at least six aerial attacks inside Somalia, killing al-Shabab leader Aden Hashi Farah Ayro, who was hit by a missile in May 2008, and Saleh Ali Saleh Nabhan, the mastermind of the 2002 attack in Kenya, who was killed by U.S. helicopter gunships last September. The U.S. has had no military support from other nations, although some have made contributions to help deal with Somalia's long...
After the 1980s, charity tunes hit mostly false notes (Anyone remember 2008's "Just Stand Up"?) except for Elton John's 1997 reworking of "Candle in the Wind," which benefited Princess Diana's foundation following her death. The song's outsize success--it is the best-selling single ever--spawned a wave of imitators too lazy to even think up new lyrics. "Do They Know It's Christmas?" was rerecorded and released in 2004 to benefit Darfur. And the new "We Are the World," featuring an Auto-Tuned Lil Wayne in place of Bob Dylan, may be raising money atop...
...Belgium's worst railway crash since 1954, a commuter train sped through a red signal and hit an oncoming locomotive on Feb. 15, killing 18 people and injuring more than 100. While investigators have not yet determined the cause of the crash, which happened outside the capital, rail workers and train drivers quickly went on strike to protest poor working conditions that may have led to the collision...
Authorities in Dubai issued international arrest warrants for 11 suspects alleged to be behind the Jan. 20 murder of Mahmoud al-Mabhouh, a top official in the Palestinian militant group Hamas. The suspects, believed to be members of a hit squad, entered the emirate using fake European passports and were captured in surveillance footage following al-Mabhouh to his hotel room disguised in wigs and tennis clothing. Hamas has accused the Israeli intelligence agency Mossad of orchestrating the assassination. Israeli Foreign Minister Avigdor Lieberman refused to directly comment on the matter, explaining that when it comes to security issues, "Israel...