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...spin game is on as the world tries to talk itself out of the worst recession since the end of World War II. The good news is that there is a slowing in the rate of deterioration in the global economy. The tougher news is that this is hardly surprising. In the aftermath of unprecedented annualized plunges in real global GDP on the order of 6% to 7% in the fourth quarter of 2008 and the first quarter of 2009, the pace of deterioration almost had to moderate...
...biggest driver of discontent [with the Chinalco deal] among Rio shareholders," says Grant Craighead, managing director of Australia-based independent research group Stock Resource, "was that the deal was being struck close to the low point in the current financial crisis. Over recent months the market decided that the worst of the crisis was over, and life's likely to get better. The Chinalco deal went from looking like a win-win to looking a bit cheap," he says...
...drought and malnutrition are thrusting Somalia towards even greater catastrophe," says Hassan Noor, Oxfam's Humanitarian Coordinator for Somalia. "Living conditions in Afgooye are some of the worst I have ever seen. I couldn't see a single shelter fit for human beings, and thousands of people have nothing to sleep under or protect them from the searing heat and heavy rains. I saw sick children lying on the floor with diarrhea and disease. I saw a young girl who had been shot in the head, fleeing with her family. People told me they expect the situation to get even...
...none of that makes any more palatable - or defensible in international law - the idea that the world's worst humanitarian disaster continues to unfold within sight of its most international military force. "Somehow the rights of ordinary Somalis seem not to count in the international system," says Alex de Waal, program director at the Social Science Research Council in New York. "The Somali issue is framed entirely in terms of other political agendas...
...Berlusconi walking in the company of several different women. Though all faces but the 72-year-old leader's are pixelated, the images in themselves show nothing scandalous; the scenes are no different from those one might see in countless other private villas around the Mediterranean. (See Berlusconi's worst gaffes...