Word: shaves
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...energy-efficient economies like Japan and South Korea are feeling oil's bite. Growth in Korea is likely to be at least 20% below what the Ministry of Finance and Economy was targeting at the beginning of the year, economists estimate. In Japan, $60 oil for 12 months could shave half a percent off GDP growth in an economy that had recently begun to perk up, according to Reiji Takeishi, a senior fellow at the Fujitsu Research Institute in Tokyo. The oil-price hikes so far, estimates Morgan Stanley economist Andy Xie, mean the Asia-Pacific region is spending...
...manufacture products in Chinese factories. Companies from India to Mexico, which in recent years have struggled to compete with China's low costs and high efficiency, could start to claim new business, says Fung. Merrill Lynch estimates that a 10% increase in the value of the yuan would shave 1.8 percentage points off China's GDP growth rate. Meanwhile, foreign investment in the Chinese economy could start to flag, says Takahide Kiuchi, a senior economist at Nomura Securities in Tokyo...
...Spoonful of Reform The long, sweet deal for Europe's sugar producers seems to be coming to an end. The European Commission has announced plans to cut the guaranteed prices paid to sugar producers by 39% over the next two years. That should shave some €1.6 billion off the E.U. budget, and lower prices for consumers. This change to the 40-year-old sugar policy was widely anticipated after the World Trade Organization last year decided that the E.U. was infringing international trade rules by giving subsidies to its sugar exporters that distort the world market. But the cuts...
...military sponsors a stock-car team, the armed services are looking to NASCAR for more than just a recruiting vehicle. Some of the techniques and equipment perfected on the tracks could easily benefit the Pentagon's trucks and aircraft. For starters, Carlson Technology, which advises teams on how to shave seconds off pit stops, and Roush Industries, which manages nine teams--including one sponsored by the Army National Guard--have shown the Army's National Automotive Center, near Detroit, how to reduce significantly the time it takes to change out the engine on a humvee. The Army could also...
Going without a shave for a few days used to be mostly an act of practical ritual (Jack Dempsey never shaved on the day of a fight) or of casual defiance, like the raggedness of the 1950s beats. Actors showed stubble in movies only when their characters had been through the wringer or on a bender; even rebels like Brando, Dean and Clift were smooth cheeked. But when Clint Eastwood rode through those Italian westerns in the '60s, a meaner, more maverick kind of frontier hero was born, an amusingly amoral gunslinger whose standard equipment was a Colt Peacemaker...