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  • oil-spill-gross-fe05-vl

    Gross: The True Costs of 'Tough' Oil

    The ongoing debacle in the Gulf of Mexico is a sign of many things. We’ve entered an age in North America when the production of energy, especially from fossil fuels, comes with ever-more-expensive environmental tradeoffs.
  • China Passes Japan as Most Important Asian Partner

    For the first time since 1985, China has overtaken Japan as America’s most important Asian partner, according to a new survey from the Japanese Foreign Ministry and Gallup that polled 200 U.S. opinion leaders. The results reflect China’s meteoric rise in economic and diplomatic power and influence:
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    The Risks and Rewards of Crisis Investing

    Investors hate risk. So when one country sinks another’s ship, killing 46 sailors, and threatens “all-out war,” it sounds like a good time to sell, right? Wrong. Political crises sometimes can be a great time to buy. When South Korea released a report on May 19 proving that the North was behind a torpedo attack two months earlier, tensions heightened and stock prices tumbled. But steely-nerved investors swooped in, and those who bought a broad index of South Korean stocks at the low made a 12 percent return in about a week—and it’s still trading roughly 13 percent off this year’s high, making for plenty of upside opportunity.
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    A Tale of Two Recessions

    One hallmark of this recession has been the disparities in how the unemployment rate has affected different groups of people.
  • cisco-john-chambers-bz03-hsamll

    'Know What You Don't Know'

    Cisco Systems, Inc. was once best known as the plumber of the Internet, for building the infrastructure and networking equipment that allows worldwide information sharing. CEO John Chambers on the company's new push into leisure products.
  • gal-tease-damages

    The Economic Recovery Is Real

    To a degree, the crisis of confidence that began in the summer of 2008 never really ended. Why fears of a second recession are overblown.
  • Reforming the 'Glorious Privilege'

    The tax code is like daytime television--almost anything done to it would improve it. Sens. Ron Wyden (D-Ore.) and Judd Gregg (R-N.H.) are striding onto the dark and bloody ground of tax policy, which their proposal would improve.
  • bp-stock-market-hsmall

    Is Now the Time to Buy BP Stock?

    Apparently we should all be buying BP stock right now. At least that’s the recommendation of the people paid to know these things: financial analysts who follow the company.
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    High-Frequency Trading: Out of Control

    High-frequency traders, who have maintained a low profile, say that because their frenzied trading provides liquidity, they help markets run smoother, improving the environment for all investors. But combine the speed at which they operate, the outsourcing of decision making to computer codes, and an almost complete lack of regulation, and this shadow market can fuel and exaggerate volatility.
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    How to Create More 'Poor'

    The existing poverty line could be improved by adding some income sources and subtracting some expenses. But the ad­min­istration's proposal for a "supplemental poverty measure" in 2011—to complement, not replace, the existing poverty line—goes beyond that.
  • tiffany-jewelry-store

    Don't Worry, Keep Spending

    Are the rich coming back? Just in time for the premiere of Sex and the City 2, there are signs that the orgy of luxury shopping that made the latter years of the credit bubble so much fun are back.
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    Could China Suicides Hurt Apple's Image?

    The spate of troubling suicides at Foxconn Technology Group, a major Chinese manufacturer of consumer electronics, presents a problem for companies like Apple, Hewlett-Packard, and Dell—and their gleaming, precision-engineered reputations.

    We're Here. We're Queer. We're Retiring.

    To meet the demands of America’s aging gay population, developers are now targeting the LGBT market with everything from active adult rental apartments to retirement communities that promise lifelong care.
  • gal-tease-global-recession

    Should We Worry About Europe?

    The troubles in Europe bring some short-term good news for the United States—and not just the humbling of French President Nicolas Sarkozy. Yet, still there is reason to be worried, at least a little.
  • Stocks Open Sharply Down on Korean Tension

    Stocks across the globe opened dramatically lower today in response to North Korea's reported threat to take military action against South Korea, as well as deepening worries over the Bank of Spain's bailout of a major bank. ...
  • Economists Agree: Unemployment Will Stay High Through November

    Economists from the left-leaning Economic Policy Institute (EPI), the centrist Brookings Institution, and the conservative Heritage Foundation may not all agree on much, but they agree on this: unemployment, which currently hovers around 10 percent, is not coming down significantly between now and November's midterm elections. ...
  • gal-tease-global-recession

    Making Europe Safer

    The European Union's decision to rescue Greece and to create a massive financial safety net for its other vulnerable debtors is a momentous event—though success is hardly guaranteed. Contrary to popular belief, the main purpose was not to save Greece but to prevent another financial panic, à la Lehman Brothers in late 2008, that might plunge the world economy back into recession. Sagging stock prices and a falling euro are warning signs.
  • Financial Reform Moves Through. What Now?

    And it's done: the Senate last night passed sweeping financial reform after months of debate, paving the way for the president to sign a major overhaul by July 4. ...
  • Reform Without Punishment

    The Senate's passage Thursday night of far-reaching financial reform is being portrayed as a big loss for the financial sector. "No End to Banks' Capitol Punishment," reads the headline in The Wall Street Journal. But everything's relative. The legislative action is a defeat in large measure because Wall Street wanted no reform. And it seems like harsh punishment because the default situation for the last 30years has been that the financial sector gets precisely the regulation it wants. ...
  • ideo-kelley-gamechangers-330-vertical

    IDEO's David Kelley Wants to Redesign the Way You Think

    His company designed the first portable defibrillator and collaborated with Ford on remaking the "driver experience" for some of its 2010 vehicles. The company is responsible for such contemporary creations as the Palm V handheld organizer and the stand-up toothpaste tube. Its customers include Samsung, the Mayo Clinic, and HBO.
  • wri-rational-optimist-tease

    The Rational Optimist: How Prosperity Evolves

    Matt Ridley sets out to prove that now is by far the best of times, and it’s only going to keep getting better. Even today’s greatest challenges, such as African poverty and climate change, are surmountable because of a remarkable human insight: that specialization and division of labor allow us to constantly improve our lot.
  • gal-tease-weird-jobs-over-100k

    Retirement: Returning to Work as a Consultant

    The term “double dipper” hasn’t been around that long. According to Webster’s, it popped up around 1974 and referred to a rare breed of recently retired government employee who got hired back as an independent consultant.
  • bp-tease

    BP Continues Stealth Public Relations During Its Crisis

    Knowing that its name and future are at stake, BP has had to walk a fine line. Doing nothing to quell public outrage over the Gulf of Mexico oil spill would quickly erode the company's image. But undertaking aggressive and overt marketing to downplay the effects of the incident could just as easily paint the company as more concerned with profits than ecological impact.
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    Richard Florida: Rethinking Blue-Collar Jobs

    Following the release of his latest tome, The Great Reset: How New Ways of Living and Working Drive Post-Crash Prosperity, NEWSWEEK’S Nancy Cook asked Florida about his vision for “upgrading” the service economy. Excerpts:
  • Economy: Can the Recovery Keep on Trucking?

    Whether you are an economic pessimist or optimist, you have to consider all the data—not just the data you like. The problem is sussing out which data points to trust. Generally, measurements of actual activity are better than surveys about attitudes or behavior. What's more, many data series come out after the fact and are subject to revision, which makes them less reliable when it comes to gauging what's taking place right now.
  • Savings Rate Down as Americans Spend More

    Leading Indicator 2.7%The personal savings rate for Americans in March. The post-crash savings rate peaked at 6.4 percent in May 2009, and hasn't been below 3 percent since October 2008.
  • Will Splitting Offshore-Oil Regulator Prevent Future Accidents?

    On Tuesday, Interior Secretary Ken Salazar cut the Minerals Management Service in half, separating its duties of regulating the offshore oil and gas industry and of collecting billions in revenue from it. The move is a tacit acknowledgment that a conflict of interest is inherent to the agency’s dual mandate, and is an indictment of the decisions the MMS made that have arguably exacerbated the Deepwater Horizon disaster. With oil still leaking into the Gulf of Mexico (BP engineers are getting desperate), the MMS faces mounting criticism for its role in the mess, first for a 2003 decision not to require remote-control shutoff switches in the gulf as a last-resort safety mechanism in the event of a blowout, and second for granting BP an exemption from providing a detailed environmental report of the Deepwater Horizon site. ...
  • Surprise! 2009 Tax Bill Lowest in Nearly 60 Years

    Democratic leaders will no doubt be glad to see this report in this morning's USA Today. The paper ran the numbers, and by their calculations, Americans haven't seen such a low bill from the tax man since 1950. For those of you keeping score at home, that's 11 years before President Obama was born. Here's the key paragraph:...
  • gal-tease-damages

    Jobs: Where Will You Work in the Future?

    The year 2030 sounds far off. In a way, the number itself conjures images of silver unitards and hovercrafts, just as 2010 probably did to people back in 1990. A lot’s changed since then, but more has stayed exactly the same, which is part of the problem.
  • National Debt Should Not Be Ignored

    He did not like the question very much. Last Wednesday afternoon, at the Peter G. Peterson Foundation’s summit on fiscal responsibility, I asked Peter Orszag, the director of the Office of Management and Budget, whether unemployment would have to rise even further for the country to see our long-term economic challenges as a true, rather than a theoretical, crisis. Orszag winced slightly, which speaks well of him as a human being: it would be morally reprehensible to wish more people the pain of joblessness. “The unemployment rate seems pretty high to me,” he said, “and the share of the unemployed who are long-term unemployed is also quite elevated.”
  • What's Behind the Dow's Dizzying Volatility?

    What the hell is happening with the Dow? Despite Friday's positive employment numbers, in which the U.S. economy added 290,000 jobs, the stock market fell this morning—thanks to growing concerns about Greece's debt and Thursday's computer glitch that sent the market plummeting. ...