Word: nationalizations
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During these dog days of summer, the nation's department stores are still cold. According to the retail-sales statistics released by the Commerce Department on July 14, June department store sales dipped 1.3% compared to sales in May of this year, and were down 9.4% compared with June of 2008. So to prop up sales before the back-to-school season, one major player is asking Santa, of all people, for some help...
MUMBAI, India - In the days after the Indian elections on May 16, until the finance minister’s speech on July 6, the nation discussed only one subject: the budget of the incoming government. The Congress Party, reelected to power after holding office for the past five years, had won a large enough majority of parliamentary seats to create a governing coalition free of leftists—like members of the Communist Party—who had slowed market reforms in the past. The new government, more moderate and centrist in composition than in its past term, won such...
...India, the Congress Party’s budget announcement has come to be one of the defining moments of the fiscal year (which ends in March). In a still heavily regulated economy, government action on major economic issues can have a profound impact on the nation, attracting foreign investment and fueling rapid growth. Thus, every newspaper and television station provided special coverage on the budget for the month preceding the announcement. Publications issued countless surveys, and every business leader offered their recommendations and predictions...
...family is not here with me today, at least not in person, because of preventable diseases. While I can't change my family's past, I can be a voice in the movement to improve our nation's health care and our nation's health for the future." -Speaking about losing her father, mother and only sibling to illnesses (White House transcript, July...
...authorities to re-try 14 of the 27 people convicted of the abduction and brutal 2006 murder of cell-phone salesman Ilan Halimi. Though the verdict announced on July 10 handed out stiff sentences to the leaders of the gang, Halimi's family, supporters and Jewish groups across the nation were outraged that 14 defendants got lighter punishments than prosecutors had requested. In response, Justice Minister Michèle Alliot-Marie announced Monday evening that she'd ordered prosecutors to appeal any sentence that was less than the state had sought. (See pictures of Nazi Germany's Kristallnacht pogrom...