Word: peake
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...small alpine ski town of Davos has just entered its peak season. Every January, a lively mélange of global business magnates, world leaders, entrepreneurs, activists, journalists and intellectuals descend upon the Swiss village to ski, socialize and participate in the annual meeting of the World Economic Forum. The five-day gathering, organized by the Geneva-based nonprofit, is intended to provide a platform to debate pressing global challenges. Not surprisingly, the recent economic meltdown is at the forefront of the agenda for this year's meeting - aptly titled "Shaping the Post-Crisis World" - which kicked off on January...
...peak, that fortune was believed to be around $3 billion, amassed after Lebedev abandoned espionage in 1992 in favor of a more lucrative occupation as a businessman. Lebedev became chairman of Russia's National Reserve Bank and acquired a substantial stake in Russian national carrier, Aeroflot. The smoothest path to prosperity in Russia is to court the political establishment, not to challenge it, but Lebedev has not shied away from political activism. In September 2008 he joined forces with former Soviet leader Mikhail Gorbachev to found an opposition movement called the Independent Democratic Party of Russia. In partnership with Gorbachev...
...expect that edge to continue. In 2009 the average apartment rent will drop 2.1%, according to PPR projections based on apartment buildings with five or more units in 54 markets. The nationwide vacancy rate is already at 6.8% - the peak during the last recession - and it is likely to grow by another percentage point this year, according to CBRE/Torto Wheaton Research, a property analytics firm that surveys professionally managed buildings with five or more apartments. (See pictures of the recession...
...that financing for new wind farms and solar plants remains all but frozen, halting tentative plans in the U.S. and Europe to expand clean power. The WilderHill New Energy Index - a fund that tracks the stock performance of selected clean tech companies - is down more than 60% since its peak in November of 2007, slammed by the double blow of the loss of venture capital and the reduced urgency for energy alternatives as the price of oil has tumbled. Clean tech startups have already shed jobs, and weaker ones are certain to go under. "The financial crisis...
...there will be no tree-hugging, bird-spotting visits to the Mai Po Marshes, no afternoons in the loft studios of Fo Tan artists and an embargo on sipping ristrettos in Elgin Street bars. Instead, Noble House Hong Kong is all about the old-school icons: go to Victoria Peak, have tea at the Peninsula hotel, get invited to someone's box at the Happy Valley races. Loaf around the lobby of Jardine House, which appears in the series as Struan & Co.'s headquarters. Partake of shark-fin banquets and black-tie suppers of foie gras and lobster. Travel only...