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...climax of a battle between the director and the theater's management over the revamp of the Bolshoi, a nearly 200-year-old icon of Russian culture just a five-minute walk from the Kremlin. "I resigned because of a disagreement with the administrators over their policies on some major development issues and over the artistic future of the theater," Vedernikov told TIME in a phone interview from his hotel in Milan, from which he is leading the Bolshoi on a summer tour of Italy - potentially his last for the theater. "We disagreed because I believe the primary logic...
Economist David Rosenberg, of investment firm Gluskin Sheff & Associates in Toronto, says Canada's trade deficit is the result of an overvalued loonie bumping up against a lingering downturn in U.S. consumer spending. "The Canadian dollar's overvaluation is a major impediment to the manufacturing sector," says Rosenberg, former chief economist at Merrill Lynch in New York City, noting that the loonie has overshot its real value by about...
...trend growth through 2010, the risk of a 'double-dip' recession remains significant," the report notes. That said, Goldman Sachs raised its year-end price target for the stock market 13%, sending a strong message to institutional investors to not sit on their hands, even in the face of major uncertainties. Among the stock groups Goldman favors: energy, basic materials, financials and technology...
...Nests: Power, Conflict and Riches," by independent researcher Kasem Jandam. Judging by the number of swiftlet condos appearing in many Thai towns, these figures are probably gross underestimates. In Indonesia, the world's largest supplier, the industry is bigger than Malaysia's and Thailand's combined. Hong Kong, a major consumer, imported nests worth $276 million last year, up from $204 million in 2006, according to the Hong Kong Trade Development Council. (See pictures of how Indonesia is complicating efforts to control the outbreaks of avian...
...hardships of the Franco dictatorship receded, new generations born under democracy embraced rising expectations, both material (by 2007, 81% of families owned their own home and 21% had a second one) and professional. "That was the major social change of the transition," says Cristina Bermejo, director of youth issues for the Workers' Commission, Spain's largest union. "Illiteracy had been a big problem in Spain since the civil war. But in the '70s and '80s, there was a reaction against it. Suddenly everyone, even factory workers, expected their kids to go to university and do better than they...