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...cost of labor in India, which was already below that in the U.S., is likely to be falling even faster than it is in the U.S. The outsourcing business in India has been hit with a sharp drop in demand, and the major Indian employers in the sector are doing poorly. (See pictures of ten things you should know about the Nano...
University spokesman John D. Longbrake said that Harvard understands its responsibilities as a major employer and recognizes that it depends heavily on its staff to fulfill its academic mission. He added that Harvard has “taken a series of steps to minimize the impact of the global economic downturn on the people who work here” by strictly limiting hiring, freezing salaries for non-union staff and faculty, and offering a voluntary early retirement incentive plan for 1,600 workers...
...Though he spoke of the cooperation of the world's nations in addressing the credit crisis, Obama also applied some pointed pressure on major economic powers, including nations in Europe and Asia, that have yet to commit to sizable stimulus programs. "We don't want a situation in which some countries are making extraordinary efforts and other countries aren't, with the hope that somehow the countries that are making those steps lift everybody up," he said...
...murders. The allegations stem not from Ivan the Terrible's reign at Treblinka but rather from Demjanjuk's alleged role as a guard at Sobibor, another Nazi death camp. On Nov. 30, the accused was wheeled into a Munich courtroom for the start of what could be the last major Nazi war-crimes trial...
...been here before. The Italian government fell halfway through its presidency in 1996, while France held two rounds of presidential elections during its 1995 presidency. In those cases, major E.U. decisions had to be suspended during the changeovers. But with the E.U. facing the greatest economic crisis of its half-century existence, many are wondering how much bigger the knock-on effects will be of that one vote in Prague...