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...sales and housing starts - will likely add up to a bleak picture, both in terms of consumer confidence levels and the overall health of the U.S. economy. "The data will show an economy that has lost a lot of steam in September in relation to August," says Joe LaVorgna, chief U.S. economist at Deutsche Bank. "It remains to be seen how bad October will be, but we could really see a bad quarter in terms of Gross Domestic Product performance where we are down at least a couple of percentage points...

Author: /time Magazine | Title: Four Reasons the Markets Are Still Troubled | 10/15/2008 | See Source »

...growth. In the past, consumer spending has comprised as much as two-thirds of the gross national product. "Retail sales is the most important number because it doesn't gauge reactions, but gauges what consumers are doing and it's a good indicator of actual spending," says Michael Englund, chief economist for Action Economics, a bond and currency market consulting firm. "The good news for households is that food and energy prices are falling, although some might see this as a weakness in demand and a sign the economy is slowing." Englund says the drop below August's sales levels...

Author: /time Magazine | Title: Four Reasons the Markets Are Still Troubled | 10/15/2008 | See Source »

...Today, we feel that justice has been done for our two colleagues who were brutally murdered whilst carrying out life-saving work," MAG's Chief Executive Lou McGrath said in a statement distributed at the courthouse. "Hopefully now, the loved ones of Chris and Hourth can finally move on with their lives," he said...

Author: /time Magazine | Title: Cambodian Khmer Rouge Killers Sentenced | 10/14/2008 | See Source »

Garcia has been dealing with a far-reaching corruption scandal that began Oct. 5, with the release of a secretly taped audio of two men talking about how they could grease the wheels for a Norwegian company to get oil and gas concessions in country. Garcia and his Cabinet chief, Jorge del Castillo, hastily called a press conference as soon as the audio was played on a local news show, trying to put distance between themselves and the men on the tape, who are also members of ruling APRA party...

Author: /time Magazine | Title: Think Bush Has It Bad? Look at Peru's President | 10/14/2008 | See Source »

...week ago, Garcia reached outside his party and picked a left-leaning governor as the new Cabinet chief. But the scandal has not faded. Congress has appointed a special committee to investigate 17 oil and gas exploration contracts awarded in September, including the five given the Norwegian company in a consortium with Peru's state-owned oil company, as well as 36 others handed out in the past two years. The head of the committee, Rep. Daniel Abugattas, said he expects to find a pattern of deceit. "The government has been giving away our natural resources to the lowest bidders...

Author: /time Magazine | Title: Think Bush Has It Bad? Look at Peru's President | 10/14/2008 | See Source »

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