Word: recentered
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...perhaps there is reason for optimism, thanks to Xi'an residents like Lu Bo, shopping one recent evening for a new fridge at a Suning appliance store. The 32-year-old, who works as an salesman in the air-freight department at China Eastern Airlines, says his salary was reduced by a third last year when his company was hit hard by the financial crisis, but that hasn't stopped him from spending. With China's future so bright, he doesn't worry too much about saving for the future. "Judging from my job, my life, I think everything will...
...brief meet-and-greet will underscore a major shift in American foreign policy toward the Southeast Asian nation, renamed Myanmar by its ruling generals. For decades the U.S. has shunned contact with the Burmese military regime and in recent years has tightened financial sanctions on its leaders for their murderous treatment of their citizens. (In the most recent crackdown in 2007, security forces gunned down dozens of Buddhist monks and other peaceful protesters...
Part of the problem, too, is the distance with which the U.S. held ASEAN in recent years. While China, India, Australia and other regional economies have been assiduously wooing Southeast Asia by signing free-trade agreements with the bloc, the U.S., particularly under the presidency of George W. Bush, kept ASEAN at arm's length. One reason was Burma's accession to ASEAN in 1997, which put the U.S. in a tough spot. Washington had been tightening sanctions on the Burmese junta because of its dismal human-rights record. By participating in ASEAN confabs, Bush's State Department worried that...
...merger, slated for completion late next year, is simple. BA and Iberia - combined annual revenues: $22 billion - are chasing their rivals' tails. Germany's Lufthansa, Europe's second-largest airline, has picked up smaller carriers from Austria to Switzerland in recent months. Thanks to the 2004 merger of the French and Dutch airlines, Air France-KLM is even further out in front. Troubled Iberia and BA, which both announced ugly losses over the past week, reckon eliminating duplicate services from fleet maintenance to business class lounges will save the airlines $600 million a year. That'll mean "a strong European...
...imposing those cuts, including slashing jobs, could be tricky. The staff at both airlines are heavily unionized. Hundreds of Iberia flights have been grounded in recent days due to a cabin crew strike over pay; a separate dispute among flight attendants at BA could see more planes parked in the run-up to Christmas...