Washington Post (July 10)
“Is the full-time American job going the way of the dodo? The signs aren’t exactly heartening.” Part-time work has been rising, working hours declining and low-wage work increasing as part of an ongoing, long-term trend. The use of temporary workers through staffing agencies has also increased. “Left to its own devices, the American economy is eroding the American job. Hours decline, dragging take-home pay down with them.”
Tags: Economy, Employment, Full-time, Job, Part-time, Pay, Staffing agencies, Temporary workers, U.S., Wages, Working hours
Financial Times (July 10)
“The coalition government’s plan to sell off Royal Mail is ambitious. Even Margaret Thatcher balked at such a course, fearing the political risks outweighed any commercial and financial gains…. Success is far from assured. Nonetheless, Royal Mail has brighter prospects in private hands. Britain will be well served if investors profit from creating a postal service that meets its needs.”
Tags: Government, Investors, Margaret Thatcher, Privatize, Profit, Prospects, Risks, Royal Mail, UK
Euromoney (July 9)
“The new Chinese government’s policy drive to deleverage the banking sector has become more apparent, and that deleveraging will continue to unfold in the next six to 12 months. In what Morgan Stanley calls its ‘super-bear scenario’, it estimates that aggressive policy tightening will reduce Chinese GDP growth to an annual rate of 5.5% in the second half of this year.” If the scenario plays out (a one in ten chance according to Morgan Stanley), it “would have major implications for global markets.”
Tags: Banking sector, China, Deleveraging, GDP, Global markets, Government, Growth, Morgan Stanley, Policy, Scenario, Super-bear
Los Angeles Times (July 8)Los Angeles Times (July 8)
“Life expectancy is 5.5 years lower in northern China than in the south because of heavy air pollution, a study examining 20 years of data concludes…. The specificity of the study published Monday may provide a jolt to policymakers and the public as debate intensifies over how much China has sacrificed to achieve rapid economic growth.” Due to a tradition of coal burning, suspended particulate matter north of the Huai River was on average 55% higher than in the south, lowering life expectancy for those in the north where the researches estimate that in the 1990s alone, the half billion residents “collectively lost 2.5 billion years from their lives.”“Life expectancy is 5.5 years lower in northern China than in the south because of heavy air pollution, a study examining 20 years of data concludes…. The specificity of the study published Monday may provide a jolt to policymakers and the public as debate intensifies over how much China has sacrificed to achieve rapid economic growth.” Due to a tradition of coal burning, suspended particulate matter north of the Huai River was on average 55% higher than in the south, lowering life expectancy for those in the north where the researches estimate that in the 1990s alone, the half billion residents “collectively lost 2.5 billion years from their lives.”
Tags: China, Coal burning, Economic growth, Huai River, Life expectancy, Particulate matter, Policymakers, Pollution, Sacrificed
Wall Street Journal (July 7)
Amid a North American oil boom, “shipments of crude by rail have shot up sharply, as producers race to get all their new oil to market and as pipeline companies scramble to build new lines or reconfigure old ones to handle the growing volumes.” This may change. “The deadly weekend explosion of a runaway crude-carrying train in Quebec threatens to ratchet up scrutiny of rising crude-by-rail shipments on both sides of the U.S.-Canada border.”
Tags: Boom, Canada, Crude, Explosion, North America, Oil, Pipeline, Producers, Quebec, Rail, Scrutiny, U.S.
The Economist (July 6)
“Good economic news has begun to fall on Britain like drops of rain in the midst of a drought. The country is parched: revisions to GDP estimates released last week suggest that output is still 3.9% lower than its 2008 peak, a worse performance than any other G20 country except Italy. As confidence returns, it seems almost impolite to point out that the British economy still has a sickly core of weak investment, productivity and wages, and that hard policy decisions lie ahead.”
Tags: Confidence, Economy, G20, GDP, Investment, Italy, Output, Productivity, UK, Wages
The New York Times (July 4)
“Despite his failings, and there were plenty, President Mohamed Morsi was Egypt’s first democratically elected leader, and his overthrow by the military on Wednesday was unquestionably a coup. It would be tragic if Egyptians allowed the 2011 revolution that overthrew the dictator Hosni Mubarak to end with this rejection of democracy.”
Tags: Coup, Democracy, Dictator, Egypt, Elected, Leader, Military, Mohamed Morsi, Overthrow, Revolution
The Los Angeles Times (July 4)
“Home of the free, land of the hot dog.” America celebrates its birthday today and, amid picnics and other celebrations, will eat 150 million hot dogs which have come to be seen as the prototypical American food. “As food, hot dogs are a symbol and means of social integration. Eating one with fellow enthusiasts from all walks of life is an act of community solidarity, especially at a ballpark with fellow fans. And it is part of the lovely myth of social equality that Americans hold dear.”
Tags: Celebration, Equality, Food, Hot dogs, Integration, Solidarity, U.S.
Financial Times (July 3)
“A tax rise now means hitting the fiscal brake while stepping on the monetary accelerator…. At some stage, Japan will probably have to raise sales tax from its hardly onerous level of 5 per cent. Mr Abe should think long and hard, however, about whether that time is now.”
Tags: Abe, Fiscal brake, Japan, Monetary accelerator, Sales tax, Tax rise
Bloomberg (July 1)
Hong Kong has long been ambivalent about mainland China and now “faces perhaps its biggest challenge: China’s wobbly economy. A downturn on the mainland threatens to erode Hong Kong’s AAA credit rating, and to alienate the city’s population once and for all…. If it’s not careful, China may lose 7 million votes of confidence, too.”
Tags: Challenge, China, Confidence, Credit rating, Downturn, Economy, Hong Kong
