Global Agenda articles from August 2004

Global Agenda archives from August 2004

Russian roulette; The oil market; Russian roulette sends the price to a new high.
August 3, 2004... The oil price has hit a 21-year high thanks to a bout of nerves about supply from Yukos, Russia's biggest oil producer. While much of the recent price rise has been due to strong demand, supply is so stretched that it would take little...

Soft patch or marshland?(American economy)
August 3, 2004... According to the latest figures, the American economy hit a soft patch in the spring. Will it bounce back, or get bogged down? AMERICANS have fallen prey to a variety of economic anxieties in the past year--some real, some imagined. First,...

Pumping all they can; The oil market; The onus on OPEC.(Organisation of the Petroleum Exporting Countries)
August 4, 2004... The oil price has risen above $44 a barrel amid concerns about supply. Last week, there were worries about the battle between Yukos, Russia's biggest oil producer, and the tax authorities. This week, OPEC's president said the oil producers'...

America and Britain on guard; Terror alerts in America and Britain; On guard against al-Qaeda plots.
August 5, 2004... Following the security alerts in America over reported al-Qaeda plots against large financial institutions, British police have reportedly arrested a leading figure in the terror group and uncovered another plot, this time against Heathrow...

Progress at last, but still a long way to go; WTO framework agreement; Progress at last on the Doha round, but still a long way to go.(World Trade Organization)
August 5, 2004... The European Union and the United States have agreed to remove agricultural export subsidies and to reduce other farm subsidies in a deal that rescues the Doha round of world trade talks. However, the details of the deal remain to be negotiated...

Heavy weather.(touristik union international)
August 5, 2004... Europe's big travel firms are struggling thanks to competition from low-cost airlines and the internet. However, times are tough for the new online operators too SUMMER is proving a horrible season for Europe's three biggest travel firms....

For richer or for poorer?(Communist-era welfare system in Russia)
August 6, 2004... There have been protests in Moscow against a new law to scrap Russia's highly inefficient, Communist-era welfare system and replace it with cash benefits. Though the reforms make sense in principle, many Russians fear they will be worse off ...

Pumping all they can? The oil market; OPEC tries to calm things down.(Organization of Petroleum Exporting Countries)
August 6, 2004... As the oil price rose to a new high of more than $44 a barrel this week, amid concerns about supply, OPEC's president said the cartel was unable to pump more oil and thus bring down the price. He later contradicted these comments, but observers...

Squeezing the balloon, not popping it.(Plan Colombia)
August 6, 2004... America's drug tsar has admitted that an undiminished amount of cocaine is flowing into the country despite years of huge efforts to disrupt supply from South America IT MAY be time to start looking at the demand side. Colombia produces...

Bush's jobs deficit.
August 6, 2004... According to the latest figures, American companies added far fewer workers to their payrolls last month than economists had forecast. This comes a week after the equally unexpected news that growth slowed significantly in the second quarter....

For richer or for poorer?(Russian welfare reform)
August 9, 2004... There have been protests in Moscow against a new law to scrap Russia's highly inefficient, Communist-era welfare system and replace it with cash benefits. Though the reforms make sense in principle, many Russians fear they will be worse off ...

Allawi gets tough.(Iyad Allawi, Iraqi prime minister)
August 9, 2004... In an effort to restore order, Iraq's prime minister, Iyad Allawi, has restored the death penalty and ordered a radical Shia cleric to withdraw his fighters from Najaf. Iran stands accused of arming the militants THERE has been little sign...

Heavy weather.
August 9, 2004... Europe's big travel firms are struggling thanks to competition from low-cost airlines and the internet. However, times are tough for the new online operators too SUMMER is proving a horrible season for Europe's three biggest travel firms....

Allawi gets tough.(Iraq restores death penalty)
August 10, 2004... In an effort to restore order, Iraq's prime minister, Iyad Allawi, has restored the death penalty and ordered a radical Shia cleric to withdraw his fighters from Najaf. Iran stands accused of arming the militants THERE has been little sign...

Slowing to a trot; The Buttonwood column; America slows to a trot.
August 10, 2004... How sharply will the American economy slow down? And what will it mean for financial markets? BUTTONWOOD is back, refreshed, from his holiday in Ireland, his motor neurones positively zinging. One of the many highlights was a ride on the...

Slowing to a trot; The Buttonwood column; The Fed and the markets.
August 11, 2004... How sharply will the American economy slow down? And what will it mean for financial markets? BUTTONWOOD is back, refreshed, from his holiday in Ireland, his motor neurones positively zinging. One of the many highlights was a ride on the...

Measure for measure.
August 11, 2004... As almost everyone expected, the Federal Reserve has raised interest rates by another quarter of a percentage point to 1.5%. But its route back to a sustainable monetary policy appears more treacherous than anyone anticipated IS ALAN...

Greeks bearing games.
August 12, 2004... The organisers of the Athens Olympics have confounded the sceptics by completing their preparations on time. Now all they have to worry about is terrorists and drug-fuelled athletes FIRST the good news. Despite all those gloomy predictions...

From father to son.(People's Action Party)
August 12, 2004... Lee Hsien Loong, the son of Singapore's elder statesman, Lee Kuan Yew, became the city-state's prime minister on Thursday. Singapore's economic success, based on an odd mixture of free markets and state meddling, looks set to continue. But will...

Fight to the finish in Najaf; Showdown with Iraq's Shia militants; Fight to the finish.(Author Abstract)
August 12, 2004... American marines backed up by Iraqi troops seem to have launched a promised final assault on the Shia militiamen holed up in Najaf. The operation risks triggering an angry reaction across Iraq and beyond--but pulling back now might be just as...

An unappetising choice.(National Electoral Council )
August 12, 2004... Voters in Venezuela will take part in a referendum this weekend on whether to kick out Hugo Chavez, their populist president. His main achievements have been to make the South American country more polarised and to deepen its decline. But his...

Greeks bearing games.(analyzing the Athens Olympics)
August 13, 2004... The organisers of the Athens Olympics have confounded the sceptics by completing their preparations on time. Now all they have to worry about is terrorists and drug-fuelled athletes FIRST the good news. Despite all those gloomy predictions...

From father to son.(singapore new PM )
August 13, 2004... Lee Hsien Loong, the son of Singapore's elder statesman, Lee Kuan Yew, became the city-state's prime minister on Thursday. Singapore's economic success, based on an odd mixture of free markets and state meddling, looks set to continue. But will...

Fight to the finish in Najaf; Showdown with Iraq's Shia militants; Fight to the finish.
August 13, 2004... American marines backed up by Iraqi troops have launched an assault to dislodge Shia militiamen from Najaf's holy sites. The operation risks triggering an angry reaction across Iraq and beyond--but pulling back now might be just as risky ...

The pros and cons of capital flight.(Capital cities)
August 13, 2004... South Korea is the latest country to decide that it needs to build a new capital city. It has some good reasons for doing so, but history suggests it may not be such a great idea SHIFTING a country's capital city sounds like an act of...

Cloning embryos, multiplying controversies.
August 13, 2004... Britain has become the first western country to license cloning for the creation of embryonic stem cells. The technology is hugely promising but also hugely controversial, in Britain and beyond. The issue is particularly polarising in America...

Consuming passions.
August 16, 2004... As the American consumer tires, can shoppers in Europe, Japan and China take up the burden? CAPITALISM is all about getting and spending. In America, where household debts amount to about 115% of disposable income, capitalism is often...

Chavez wins, his opponents cry foul.(National Electoral Council)
August 16, 2004... Venezuela's electoral authorities say President Hugo Chavez has won a referendum called by his opponents in an attempt to force him out. Opposition leaders are crying foul but it looks like Mr Chavez and his incompetent "Bolivarian revolution"...

Putting the Playboy saga behind it.
August 16, 2004... It looked like Google's stockmarket flotation might be derailed at the last minute by an interview in Playboy magazine that seemed to contravene listing rules. However, the Securities and Exchange Commission has reportedly given it the...

Chavez wins, his opponents cry foul.
August 17, 2004... Venezuela's electoral authorities say President Hugo Chavez has won a referendum called by his opponents in an attempt to force him out. Opposition leaders are crying foul but it looks like Mr Chavez and his incompetent "Bolivarian revolution"...

Putting the Playboy saga behind it.(Google's initial public offering)
August 17, 2004... It looked like Google's stockmarket flotation might be derailed at the last minute by an interview in Playboy magazine that seemed to contravene listing rules. However, the Securities and Exchange Commission has reportedly given it the...

Pouring oil on the flames.
August 17, 2004... How would financial markets react if the oil price stays stubbornly high? AFTER a long and acrimonious dispute with his insurance company, Buttonwood is pleased to report that his Fiat Punto is no longer being carted off to the great...

Greeks bearing games.(athens olympics)
August 18, 2004... The organisers of the Athens Olympics confounded the sceptics by completing their preparations on time. Now all they have to worry about is terrorists and drug-fuelled athletes FIRST the good news. Despite all those gloomy predictions that...

Consuming passions.(capitalism)
August 18, 2004... As the American consumer tires, can shoppers in Europe, Japan and China take up the burden? CAPITALISM is all about getting and spending. In America, where household debts amount to about 115% of disposable income, capitalism is often...

Google's IPO rollercoaster.(initial public offering)
August 18, 2004... After a series of mistakes and unforeseen problems, Google got its widely watched share offering back on track this week. But it has had to cut the price sharply, lopping $10 billion off the company's implied value. Were the internet-search...

Google's IPO rollercoaster.
August 19, 2004... After a series of mistakes and unforeseen problems, Google got its widely watched share offering back on track this week. But it has had to cut the price sharply, lopping more than $10 billion off the company's implied value. Were the...

Old grievances, fresh graves.
August 19, 2004... Central Africa could be stumbling towards another disastrous war. Why? ON THE night of Friday August 13th, armed marauders over-ran the Gatumba camp in Burundi. With guns and machetes, they shot and chopped 160 defenceless refugees to...

Pouring oil on the flames.
August 20, 2004... How would financial markets react if the oil price stays stubbornly high? AFTER a long and acrimonious dispute with his insurance company, Buttonwood is pleased to report that his Fiat Punto is no longer being carted off to the great...

Google's IPO rollercoaster.
August 20, 2004... After a series of mistakes and unforeseen problems, Google got its widely watched share offering back on track this week. But it has had to cut the price sharply, lopping billions off the company's implied value. Were the internet-search firm's...

Old grievances, fresh graves.
August 20, 2004... Central Africa could be stumbling towards another disastrous war. Why? ON THE night of Friday August 13th, armed marauders over-ran the Gatumba camp in Burundi. With guns and machetes, they shot and chopped 160 defenceless refugees to...

Google's IPO rollercoaster; Google's IPO; Rollercoasting to market.(Initial Public Offerings)
August 23, 2004... After a series of mistakes and unforeseen problems, Google got its widely watched share offering back on track this week. But it has had to cut the price sharply, lopping billions off the company's implied value. Were the internet-search firm's...

Old grievances, fresh graves.
August 23, 2004... Central Africa could be stumbling towards another disastrous war. Why? ON THE night of Friday August 13th, armed marauders over-ran the Gatumba camp in Burundi. With guns and machetes, they shot and chopped 160 defenceless refugees to...

Another push for peace.
August 23, 2004... Will diplomatic pressure and a new round of peace talks bring an end to the world's worst humanitarian disaster? EFFORTS to end the devastating conflict in the Darfur region of Sudan have once again been stepped up. On Monday August 23rd,...

War, then and now.(presidential elections)
August 23, 2004... For the first time since Vietnam, Americans care as much about foreign policy as about their economy going into an election. Dissatisfaction over Iraq should help John Kerry, but the challenger has been hurt by a row over his own days in...

Another push for peace.
August 24, 2004... Will diplomatic pressure and a new round of peace talks bring an end to the world's worst humanitarian disaster? EFFORTS to end the devastating conflict in the Darfur region of Sudan have once again been stepped up. On Monday August 23rd,...

War, then and now.(presidential elections in America.)(Kerry, john F.)
August 24, 2004... For the first time since Vietnam, Americans care as much about foreign policy as about their economy going into an election. Dissatisfaction over Iraq should help John Kerry, but the challenger has been hurt by a row over his own days in...

America's false profits.
August 24, 2004... American firms are not as healthy as you might suppose THERE are not many Wal-Marts in St James's, the swanky part of London that The Economist calls home. Actually, there aren't any. And it is our loss, for however grand, charming and...

A damning verdict; Shell's reserves scandal; A damning verdict, and a hefty fine, from the regulators.
August 25, 2004... America's Securities and Exchange Commission has issued a damning report into Shell's overstatement of its oil reserves, which finds that the cover-up was older and more widespread than the company had previously acknowledged. The SEC and...

The ayatollah returns.
August 26, 2004... Iraq's top cleric, Grand Ayatollah Ali al-Sistani, has returned to Najaf and is seeking to end the siege of the holy city's Imam Ali shrine. Can he help prevent the country from breaking apart? HAVING spent the three weeks of the Najaf...

Ersatz Europeans; European economies; Enduring an ersatz recovery.
August 26, 2004... The political fortunes of the German and Italian governments depend on economic recovery at home. But that recovery depends rather too much on events elsewhere WHAT have been the biggest events for the European markets this month? Was it...

America's false profits.
August 27, 2004... American firms are not as healthy as you might suppose THERE are not many Wal-Marts in St James's, the swanky part of London that The Economist calls home. Actually, there aren't any. And it is our loss, for however grand, charming and...

Sistani ends the siege.
August 30, 2004... Grand Ayatollah Ali al-Sistani has struck a deal to end the bloody three-week siege of Najaf's Imam Ali shrine. But the agreement leaves rebel cleric Muqtada al-Sadr at large and confirms Mr Sistani as a figure who wields uncomfortable...

Another push for peace.
August 31, 2004... Will diplomatic pressure and a new round of peace talks bring an end to the world's worst humanitarian disaster? EFFORTS to end the devastating conflict in the Darfur region of Sudan have once again been stepped up. Last week, Britain's...

A nation's fears reawakened.
August 31, 2004... Investigators say they have found evidence that terrorists brought down two Russian passenger aircraft that crashed minutes apart last Tuesday. No one is surprised, as the incidents occurred just five days before a presidential election in the...

The other planet; Poverty in America; How the other 12.5% live.
August 31, 2004... The number of Americans in poverty is rising, as is the number without health insurance. The best anti-poverty programme is a tight labour market. America still doesn't have one CONTRARY to popular belief, President George Bush's campaign...