Global Agenda articles from August 2005

Global Agenda archives from August 2005

Bush stands by his controversial man.(George W. Bush, John Bolton )
August 1, 2005... George Bush has bypassed Congress to appoint John Bolton as ambassador to the United Nations, to the annoyance of his political opponents and the dismay of many at the UN. But conservatives are delighted that the tough-talking Mr Bolton is...

After Fahd, Abdullah. But then?(King Fahd)
August 1, 2005... With the death of Saudi Arabia's ailing, octogenarian King Fahd, his only slightly younger half-brother, Abdullah, takes over the desert kingdom. Though things may continue much as before in the short term, the new ruler will have to cope with...

Bogus fears send the Chinese packing; CNOOC drops its bid for Unocal; Bogus American fears send the Chinese packing.
August 2, 2005... CNOOC, a Chinese state-controlled oil firm, has abandoned its $18.5 billion bid for Unocal, blaming political opposition in America. China's government could retaliate by blocking American investment in China. American firms may, in the long...

Bogus fears send the Chinese packing; CNOOC drops its bid for Unocal; Bogus American fears send the Chinese packing.
August 3, 2005... CNOOC, a Chinese state-controlled oil firm, has abandoned its $18.5 billion bid for Unocal, blaming political opposition in America. China's government could retaliate by blocking American investment in China. American firms may, in the long...

A crucial peace accord under strain.(John Garang)(Sudan People's Liberation Army)
August 3, 2005... The death in a helicopter crash of John Garang, Sudan's southern rebel leader turned vice-president, has sparked unrest in the capital, Khartoum, and put the country's recently negotiated peace accord under strain FEW men have managed the...

Bush stands by his controversial man; Bush appoints Bolton as his UN ambassador; Standing by his controversial man.(John Bolton )(United Nation)
August 4, 2005... George Bush has bypassed Congress to appoint John Bolton as ambassador to the United Nations, to the annoyance of his political opponents and the dismay of many at the UN. But conservatives are delighted that the tough-talking Mr Bolton is...

A crucial peace accord under strain.(John Garang)(Sudan People's Liberation Army)
August 4, 2005... The death in a helicopter crash of John Garang, Sudan's southern rebel leader turned vice-president, has sparked unrest in the capital, Khartoum, and put the country's recently negotiated peace accord under strain FEW men have managed the...

The canary in the mine; Britain's interest-rate cut; Europe's role model faces some home truths.
August 4, 2005... Long the envy of its peers in continental Europe, Britain's economy has hit a soft patch. Consumers, no longer buoyed by rising house prices, have cut back their spending, and so far nothing has come forward to take its place. The Bank of...

Another year, another scandal; Banking scandals in Italy; An opportunity to learn from Parmalat comprehensively missed.
August 4, 2005... The latest scandals over a contested bank bid show that Italy has learned little from the spectacular collapse of dairy group Parmalat. The country's reputation as a sensible place in which to invest has been badly damaged. But don't expect the...

No appetite for carrots, no fear of sticks; Iran resumes its nuclear work; No appetite for carrots, no apparent fear of sticks.
August 8, 2005... Iran has carried out its threat to restart its nuclear programme, removing the seals on part of its uranium-conversion plant at Isfahan. European offers of political and economic incentives, designed to dissuade the theocratic Middle Eastern...

Japan's moment of truth?
August 8, 2005... After losing a crucial upper-house vote on privatising Japan's postal monopoly, the prime minister, Junichiro Koizumi, has called a snap election, triggering a civil war in his own party and taking the country into uncharted waters THE...

Netanyahu's parting shot; Israel ahead of the Gaza pull-out; Netanyahu resigns and sets his sights on Sharon's job.
August 8, 2005... Binyamin Netanyahu has resigned from his post as Israeli finance minister, just a week before the government starts to pull Jewish settlers out of Gaza. His opposition to the Gaza disengagement is well known, but the timing of the move suggests...

Japan's moment of truth? Japanese politics; Koizumi, defeated over postal privatisation, calls a snap election.(Junichiro Koizumi)(Liberal Democratic Party )
August 9, 2005... After losing a crucial upper-house vote on privatising Japan's postal monopoly, the prime minister, Junichiro Koizumi, has called a snap election, triggering a civil war in his own party and taking the country into uncharted waters THE...

Corruption at the heart of the United Nations.
August 9, 2005... An investigation has concluded that the former head of the United Nations' oil-for-food programme in Iraq took kickbacks to help an oil company win contracts. Another senior UN official is accused of soliciting bribes. The report is a severe...

Netanyahu's parting shot; Israel ahead of the Gaza pull-out; Netanyahu resigns and sets his sights on Sharon's job.(Binyamin Netanyahu )
August 9, 2005... Binyamin Netanyahu has resigned from his post as Israeli finance minister, just a week before the government starts to pull Jewish settlers out of Gaza. His opposition to the Gaza disengagement is well known, but the timing of the move suggests...

Perils at the pump.(crude oil prices affects US economy )
August 9, 2005... Oil prices have hit yet another record, on fears of political instability in the Middle East and refining problems in America. So far, the world economy has managed to chug along without much ill effect. But how long can consumers go on paying...

No appetite for carrots, no fear of sticks; Iran resumes its nuclear work; No appetite for carrots, no apparent fear of sticks.
August 10, 2005... Iran has carried out its threat to restart its nuclear programme, removing the seals on its uranium-conversion plant at Isfahan. European offers of political and economic incentives, designed to dissuade the theocratic Middle Eastern state from...

Japan's moment of truth? Japanese politics; Koizumi, defeated over postal privatisation, calls a snap election.(Junichiro Koizumi)
August 10, 2005... After losing a crucial upper-house vote on privatising Japan's postal monopoly, the prime minister, Junichiro Koizumi, has called a snap election, triggering a civil war in his own party and taking the country into uncharted waters THE...

Netanyahu's parting shot; Israel ahead of the Gaza pull-out; Netanyahu resigns and sets his sights on Sharon's job.(Binyamin Netanyahu)(finance minister)
August 10, 2005... Binyamin Netanyahu has resigned from his post as Israeli finance minister, just a week before the government starts to pull Jewish settlers out of Gaza. His opposition to the Gaza disengagement is well known, but the timing of the move suggests...

Perils at the pump.(increase in oil prices affects us economy)
August 10, 2005... Oil prices hit yet another record this week, on fears of political instability in the Middle East and refining problems in America. So far, the world economy has managed to chug along without much ill effect. But how long can consumers go on...

Opening Pandora's inbox; The war on spam; The "king of spam" settles with Microsoft, but the scourge takes on new forms.
August 10, 2005... Microsoft has reached a settlement with one of the world's leading spammers which includes a payment of $7m to the software giant. Despite legal and technological challenges, spamming is still a big problem. And a new form of the scourge could...

No appetite for carrots, no fear of sticks; Iran resumes its nuclear work; No appetite for carrots, no apparent fear of sticks.
August 11, 2005... Iran has carried out its threat to restart its nuclear programme, removing the seals on a uranium-conversion plant. The UN's nuclear watchdog has issued a resolution expressing "serious concern" at the move, but the case will not yet be sent to...

Perils at the pump.
August 11, 2005... Oil prices hit yet another record this week, on fears of political instability in the Middle East and refining problems in America. So far, the world economy has managed to chug along without much ill effect. But how long can consumers go on...

Opening Pandora's inbox; The war on spam; The "king of spam" settles with Microsoft, but the scourge takes on new forms.
August 11, 2005... Microsoft has reached a settlement with one of the world's leading spammers which includes a payment of $7m to the software giant. Despite legal and technological challenges, spamming is still a big problem. And a new form of the scourge could...

Watch your mouth; Terrorism and civil liberties in Britain; Must tackling Islamist firebrands mean ditching ancient freedoms?
August 11, 2005... In the wake of the London Tube and bus bombings, Britain's prime minister, Tony Blair, thinks that European human-rights laws prevent Britain from dealing with supporters of terrorism. But the real obstacles lie closer to home WHAT makes a...

Perils at the pump.(petroleum industry)(Industry Overview)
August 12, 2005... Oil prices hit yet another record this week, on fears of political instability in the Middle East and refining problems in America. So far, the world economy has managed to chug along without much ill effect. But how long can consumers go on...

Watch your mouth; Terrorism and civil liberties in Britain; Must tackling Islamist firebrands mean ditching ancient freedoms?
August 12, 2005... In the wake of the London Tube and bus bombings, Britain's prime minister, Tony Blair, thinks that European human-rights laws prevent Britain from dealing with supporters of terrorism. But the real obstacles lie closer to home WHAT makes a...

Waiting for a miracle; The consequences of Israel's withdrawal from Gaza; A row that presages a clash over what makes the Jewish state Jewish.
August 15, 2005... The Israeli army has begun its eviction of the Gaza strip's 8,000 or so Jewish residents. The row over Israel's biggest evacuation of settlers in over two decades presages a growing clash over what makes the Jewish state Jewish IT IS the...

Unstoppable meets immovable in Gaza.
August 16, 2005... Israel's army has begun delivering evacuation notices to the 8,000 or so settlers in the Gaza strip. The unknown factor is not the settlers themselves, but the thousands of outside protesters who threaten to turn the evacuation violent ...

The not-so-incredible shrinking deficit; America's economy; The deficit shrinks but the long-term outlook remains grim.
August 16, 2005... A new forecast from the Congressional Budget Office shows America's budget deficit once again coming in lower than expected. Republicans, unsurprisingly, are rushing to claim credit for sound economic management. But the long-term outlook is...

Waiting for a miracle; The consequences of Israel's withdrawal from Gaza; A row that presages a clash over what makes the Jewish state Jewish.
August 16, 2005... The Israeli army has begun its eviction of the Gaza strip's 8,000 or so Jewish residents. The row over Israel's biggest evacuation of settlers in over two decades presages a growing clash over what makes the Jewish state Jewish IT IS the...

Storming the Gaza diehards' bastions; Israel's evacuation of Gaza settlers; Storming the synagogues.
August 18, 2005... Israeli troops have stormed synagogues in Jewish settlements in Gaza, where many of the remaining protesters against the pull-out were holed up. The imminent fall of these bastions of opposition means that Ariel Sharon's "disengagement" may be...

Struggling to pick up the pieces; The IMF's assessment of Iraq; Struggling to pick up the pieces as the insurgency blows things apart.(International Monetary Fund)
August 18, 2005... A new report from the International Monetary Fund says that Iraq's economic growth is stalling because of the deteriorating security situation. Political progress, too, seems to have slowed, with the government struggling to produce a new...

The Scots go a-hunting; RBS buys into Bank of China; Another week, another foreign lender piles in.
August 18, 2005... Royal Bank of Scotland is leading a $3.1 billion investment to take a minority stake in Bank of China. The deal is risky given the parlous state of the country's banking system. But the pitfalls may be exaggerated ONCE again, China's...

Storming the Gaza diehards' bastions; Israel's evacuation of Gaza settlers; Storming the synagogues.
August 19, 2005... Israeli troops have stormed synagogues in Jewish settlements in Gaza, where many of the remaining protesters against the pull-out were holed up. The imminent fall of these bastions of opposition means that Ariel Sharon's "disengagement" may be...

The Scots go a-hunting; RBS buys into Bank of China; Another week, another foreign lender piles in.
August 22, 2005... Royal Bank of Scotland is leading a $3.1 billion investment to take a minority stake in Bank of China. The deal is risky given the parlous state of the country's banking system. But the pitfalls may be exaggerated ONCE again, China's...

Kill or cure for the drug business?
August 22, 2005... An American jury has awarded huge damages against Merck for a death associated with Vioxx, an anti-inflammatory drug that the firm withdrew last year. Further hefty awards against Merck and other big drug firms could cause great pain but might...

The last of Gaza's settlers leave.
August 22, 2005... The last Jewish settlers have departed from the Gaza strip, without much trouble, and demolition of the settlers' homes has begun. But there may still be serious clashes at two West Bank settlements that are listed for evacuation THERE...

Let battle commence; Germany's election; As the campaign begins in earnest, Schroder shows some spark.(German chancellor Gerhard Schroder )
August 22, 2005... Gerhard Schroder may still be the loser in next month's election in Germany--but it is no longer so certain that Angela Merkel, the opposition Christian Democrats' candidate, will be the winner IS THIS really the look of a loser? Stumping...

Struggling to pick up the pieces; The IMF's assessment of Iraq; Struggling to pick up the pieces as the insurgency blows things apart.(International Monetary Fund )
August 23, 2005... A new report from the International Monetary Fund says that Iraq's economic growth is stalling because of the deteriorating security situation. Political progress, too, seems to have slowed, with the government struggling to produce a new...

Different this time?(emerging markets)
August 23, 2005... Foreigners are again pouring cash into emerging markets. What will happen when they stop? BUTTONWOOD was in the wilds of Guadalajara (Spain's, not Mexico's) last week, trying to keep teenage bikinis within the bounds of decency, when the...

Kill or cure for the drug business?
August 23, 2005... An American jury has awarded huge damages against Merck for a death associated with Vioxx, an anti-inflammatory drug that the firm withdrew last year. Further hefty awards against Merck and other big drug firms could cause great pain but might...

"Disengagement" completed; Israel and the Palestinians; Sharon's "disengagement" plan is completed.
August 23, 2005... After the clearance of Jewish settlers and protesters from Gaza, Israeli forces have now evacuated the last of four West Bank settlements also being abandoned. Ariel Sharon's "disengagement" plan has been completed THERE were a few angry...

The Scots go a-hunting; RBS buys into Bank of China; Another week, another foreign lender piles in.(Royal Bank of Scotland )
August 24, 2005... Royal Bank of Scotland is leading a $3.1 billion investment to take a minority stake in Bank of China. The deal is risky given the parlous state of the country's banking system. But the pitfalls may be exaggerated ONCE again, China's...

Kill or cure for the drug business? Drug companies under fire; Is the Vioxx award kill or cure for Big Pharma?
August 24, 2005... An American jury has awarded huge damages against Merck for a death associated with Vioxx, an anti-inflammatory drug that the firm withdrew last year. Further hefty awards against Merck and other big drug firms could cause great pain but might...

The sick cope best with labour pains; Airlines and their unions; When coping with labour pains, it helps to have little to lose.
August 24, 2005... America's Northwest Airlines and British Airways are both feeling the effects of strike action. Ironically, struggling Northwest is coping reasonably well without its striking mechanics, while buoyant BA is still recovering from a one-day...

Europe's textile war with China--and itself.
August 24, 2005... Chinese-made bras, blouses and T-shirts are piling up at customs checkpoints across Europe, having already bumped up against import limits set earlier this year. The European Union has sent a team of officials to Beijing to negotiate a way out...

Europe's textile war with China--and itself.
August 25, 2005... Chinese-made bras, blouses and T-shirts are piling up at customs checkpoints across Europe, having already bumped up against import limits set earlier this year. The European Union has sent a team of officials to Beijing to negotiate a way out...

America's border troubles, north and south; America's borders; Too many crossing from Mexico, too few from Canada.
August 25, 2005... A furore is growing over borders in North America. Can the United States guard the homeland, protect trade with Canada and Mexico and not antagonise its two crucial neighbours at the same time? ASK an American journalist or politician about...

Kill or cure for the drug business? Drug companies under fire; Is the Vioxx award kill or cure for Big Pharma?
August 26, 2005... An American jury has awarded huge damages against Merck for a death associated with Vioxx, an anti-inflammatory drug that the firm withdrew last year. Further hefty awards against Merck and other big drug firms could cause great pain but might...

Europe's textile war with China--and itself.
August 26, 2005... Chinese-made bras, blouses and T-shirts are piling up at customs checkpoints across Europe, having already bumped up against import limits set earlier this year. The European Union has sent a team of officials to Beijing to negotiate a way out...

Iraq, still divided after three deadlines.
August 26, 2005... A third deadline for agreeing on a constitution for Iraq has come and gone. Though the talking may continue for a while, Shias and Kurds say the current draft is good enough and will be put to voters. Sunni Arabs continue to object strenuously...

Crunch time for UN reform; The upcoming UN summit; Painful negotiations and a looming deadline.(United Nations reform)
August 30, 2005... America has requested extensive last-minute changes to a draft agreement on reforming and modernising the United Nations. Painful negotiations lie ahead of next month's summit of world leaders IF THERE was still any question that America is...

Measure for measure; The Buttonwood column: investor confidence; A proliferation of risk-appetite indices.
August 30, 2005... Investors are mad for risk-appetite indices. What do they actually tell us? IT CAN now be revealed that Buttonwood has not always been a fan of cricket. Brought up in the robust and marginally faster-moving world of baseball, she has long...

The damage that Katrina could still wreak; Hurricane Katrina strikes; The terrible damage that Katrina could still wreak.
August 30, 2005... Hurricane Katrina is already known to have killed dozens along the Gulf of Mexico coast, with the death toll expected to rise as rescuers reach more affected areas. Besides its devastating cost in lives, Katrina could push the American...

Iraq, still divided after three deadlines; Iraq's constitution; The Shias and Kurds agree on a draft but the Sunnis insist it's unacceptable.
August 30, 2005... Iraq's draft constitution has been finished and will be put to the voters in October. Sunni Arabs continue to object strenuously to the document, and say it could provoke a civil war AFTER three deadlines and painful negotiations, Iraq...