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...developing world still must cope with the prospect of lower economic growth in the months ahead that could compound problems for countries that are already struggling. Although prices for oil and other commodities have declined recently, they remain at unusually high levels. Justin Lin, chief economist at the World Bank, says his organization is preparing lending programs to help ease the burden of high food and fuel costs for developing countries. "They still need to have the support, in order to protect the poor," Lin says. But it's unclear how widely available such programs will...
...know what to expect in macro terms in the medium run. Indeed, Paul Tsang, senior vice president at Polaris Securities in Hong Kong, says he expects the rebound to continue as investors wait to see how the proposed bailout plans affect financial institutions, but that longer-term predictions remain murky. "My initial hunch is consolidation will continue for one or two weeks," he says. "After two weeks, we'll see another change, either up or down." - With reporting by Peter Ritter / Hong Kong (Click here to see photos of how London faces painful and uncertain times...
...offensive line did a good job today protecting, but we’re not as physical as we usually are up front.” GONE RACIN’ The Ivy League race appeared to be even more open after Saturday’s contests. Brown, Princeton, and Penn remain the only undefeated teams in league play, but the Bears lost 41-34 to Holy Cross and Penn looked unimpressive in a 27-7 victory over Georgetown. Princeton fell to Colgate, 27-24. One of those undefeateds will fall next weekend; Brown travels to Princeton on Saturday...
...Boston Public Health Commission recently gave preliminary approval to a measure that would impose new restrictions on tobacco consumption and sales. One component of the measure is a proposed ban on the city’s cigar bars, of which four remain. These bars were given an exemption from the citywide ban on smoking imposed in 2004, and are popular hangouts for cigar aficionados. While the previous ban was an understandable measure in protection of public health, mandating the closure of cigar bars would be alarmingly intrusive given its limited advantages. The direct public health benefits of the ban would...
...trouble in exchange for a slice of equity. In plain English, that's called partial renationalization. How much equity depends on the size of the bailout, and for the moment, other than in Britain, precise details about which banks will receive how much and in exchange for what remain to be negotiated. Along with the fresh capital, governments are proposing a series of other measures designed to restore confidence in the banking system by guaranteeing deposits, jump-starting interbank lending, which has dried up, and promising that no European bank will fail. The measures were coordinated in principle...