Business

Cover Story: How Murdoch Will Struggle to Preserve His Influence

The tabloid saga gripping Britain — a tangled tale of criminality and corruption, of politicians in thrall to the power of the press and of police in the press’s pay — has elements of farce but even more of tragedy. Take Graham Foulkes, whose 22-year-old son David was one of 52 people killed by suicide bombers in London six years …

Out of Bounds: Illegal Land Drives China’s Golf Course Boom

In 2004, China outlawed the construction of new golf courses. The move was supposed to save a water-parched land and cut down on flashy displays of wealth by China’s nouveaux-riches. But you wouldn’t know about any such ban if you looked at the newly manicured greens ringing China’s growing cities. Indeed, the People’s Daily, …

Facebook Revolution in Israel Takes the Form of Cottage Cheese

When Tahrir Square was going full steam, I spent an afternoon asking Israelis their thoughts on the matter in a sleek shopping mall in Ra’anana, north of Tel Aviv.  The first question was whether, watching the events in Cairo, they felt inspired?  I should have said “sympathetic,” because several people thought they were being asked if …

Greece’s Turmoil: A Brief History of the General Strike



As Greece withstands the second day of a 48-hour general strike shutting down much of the country, it’s worth considering the history of this radical, dramatic tactic. The pervasive feeling in the debt-ridden Mediterranean country seems to be a sense that something has altogether broken in their society. One middle-aged Greek told TIME …

China Pandas to Public Opinion in Britain

He called us his “dear friends from the press” and said he wished “to announce a piece of good news.” Chinese premier Wen Jiabao, on his first trip to London since David Cameron entered Downing Street, appeared in the most cordial of spirits at a June 27 press conference with Britain’s Prime Minister. And Wen’s news, or at least the …

Can French Bank Deal On Greek Debt Save The Euro?

Could the end of the Greek debt crisis be in view—and with it the pressure that has put the very future of the euro in jeopardy? That’s the hope behind a draft deal French President Nicolas Sarkozy confirmed Monday, under which France’s private banks holding some $21 billion in Greek sovereign debt would roll nearly 70% of that …

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