Word: sectoral
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...with many of the Wall Street practices that led to the crisis. They fought regulation - of derivatives, for instance - that might have prevented it. And their big profits can be traced not only to skill but also to the government's decision last fall to bail out the financial sector just as the troubles that toppled Lehman Brothers and WaMu and forced Bear Stearns, Merrill Lynch and Wachovia into shotgun marriages began to endanger Goldman and (to a lesser extent) JPMorgan. "No one should be confused about the extent to which the public sector has provided a foundation for financial...
...Kenyan port of Mombasa, to the rest of the world. Analysts say that could lead to a more than 90% reduction in the cost of Internet access in years to come. The high price of using the Internet has up until now crippled the region's nascent tech sector, denying jobs to millions of well-educated young Africans. (Read: "Kenya's Blackboard Jungle...
Berezovsky is looking for some $3.3 billion from Abramovich. His tangled skein of allegations centers on Sibneft, an energy concern acquired at the end of 1995 by Berezovsky and Abramovich during the privatization of the Russian energy sector, and Rusal, a company formed in 2000 when Abramovich merged his metals businesses with those of Oleg Deripaska, another prominent oligarch. Stakes in Rusal were also held by Berezovsky and a Georgian businessman, Arkady (Badri) Patarkatsishvili...
...answering that call? For now, two-thirds of auto-entrepreneurs are men, who, on average, are age 40. About 33% are salaried employees starting up a sideline business, 25% are unemployed and 6% are retirees. Later this year, the program will take private enterprise to the public sector by opening auto-entrepreneur to civil servants. If it continues at its current pace, the scheme will prove that France not only has a word for entrepreneur, but also a growing army of people it fits. Read "Much Greater Paris...
...given a boost by China's surprisingly strong 7.9% GDP growth in the second quarter - has buoyed investor sentiment not just for stocks but also for real estate. According to government data, new home prices in 36 Chinese cities rose 6.3% in June from a year earlier. The property sector is showing signs of the frothy enthusiasm that is symptomatic of the onset of a bubble. In the Chinese city of Nanjing last month, 3,000 people snapped up tickets for the right to purchase an apartment in a new development with only 600 units. (Read "A New Deal...