Word: shake-up
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...Senior White House officials tell TIME there will be a "major shake-up in the economic team" after the election. Lindsey is the most likely to go. He contributed to the criticism that he has made too many on-the-record gaffes by speculating last week in the Wall Street Journal that a war with Iraq might cost from $100 billion to $200 billion on the very day the President was preaching fiscal discipline. White House officials insist Lindsey is not being forced out but that he may conclude on his own that he should go. "No one has been...
...shrank from 33% in 1995 to 26% last year. Meanwhile, the New World's share rose from 15% to 37%, more than half of it from Australia. The prospect of being marginalized in one of the world's few growth markets has convinced the French that they need a shake...
...sell controlling stakes in four key investment funds. BZ Group, Ebner's holding company, made the sale after the share prices of the firms in which the funds held stock plunged. But while Ebner may have always pushed hard for greater corporate accountability - he is credited with the shake-up of the Swiss banking industry - his successor may not have the same zeal: Zürcher Kantonal-bank, which bought majority voting rights in the stakes, has said already it will adopt a less activist stance than Ebner's. At least Buffett is carrying on the shareholder mission...
...system, payments will be more closely linked to environmental and quality standards, and will be gradually lowered by 20%, with the money saved to be used for rural devel BRITAIN Going to Pot The U.K. government lessened the penalties for being caught using marijuana as part of the biggest shake-up of drug laws in 30 years. Under new rules, police will have greater discretionary powers to issue a warning - rather than to arrest - those caught with small amounts of marijuana. The police will, however, still have powers of arrest where the possession of the drug is thought...
...guaranteeing the independence of the judiciary. But for a growing number of people within his organization, it's too little too late. Palestinian Authority members are haggling over reforms that include a plan to shift Arafat to a symbolic role as President. Senior Palestinian officials tell TIME that the shake-up would install Palestine Liberation Organization Secretary-General Mahmoud Abbas--an Arafat ally who has recently been critical of him in private--as Prime Minister, responsible for creating an accountable administration. Among other proposed reforms: folding Arafat's nine security organizations into one police service. The hope among U.S. officials...