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...Riots over power shortages, usually a standard summer feature when demand is at its highest, are rocking Pakistan's major cities. In the industrial town of Multan, a recent protest over power outages saw 58 gravely injured and hundreds of thousands of dollars in damage to government buildings, factories, utilities and vehicles. If the problems continue it could lead to political instability. "The economy is more urgent than extremism," says an American diplomat in Islamabad...
...icons are in trouble - the citrus industry, battered by freezes and diseases; the Florida panther, displaced by highways and driveways; the space shuttle, approaching its final countdown. New research suggests that the Everglades is collapsing, that our barrier beaches could be under water within decades, that a major hurricane could cost us $150 billion. (See pictures of Miami: Paradise Lost...
Nikolaj Sazhin, math major...
...Americans who've heard of it, cricket conjures up images of fastidious Englishmen in white outfits who scarcely break a sweat during "test" matches that stretch over five days--with regular breaks for tea! But the newest format of the game, known as Twenty20, is shorter than a Major League Baseball game, as fiercely contested as a National Hockey League match and between teams dressed more colorfully than the Los Angeles Lakers. For the spectators, there is rousing music between plays ... and cheerleaders...
This correction process--in which both homeowners and lenders eat losses on their investments--can't be stopped entirely. It shouldn't be stopped, and going forward, a major priority for regulators will be averting such lending binges--as new, tougher mortgage rules from the Federal Reserve aim to do. But at the same time, many on Wall Street and in Washington fear that the correction could careen into an economic cataclysm. That's why the Fed has intervened at the top of the financial food chain by cutting interest rates and bankrolling a shotgun takeover of the investment bank...