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...remain a lushly profitable segment. That's why two new carriers, Eos Airlines and MAXjet Airways, both flying between New York City's J.F.K. Airport and London's Stansted Airport, are going after them. Eos offers only 48 flat-bed seats on each Boeing 757 flight (price: $6,500 round trip, about 50% less than first-class fares on the major carriers), while MAXjet boasts an all-business-class, 102-seat cabin in Boeing 767-200s ($780 each way). "We want to bring affordable business travel to a wider segment of the market," says MAXjet CEO Gary Rogliano...
...latest round of talks at the World Trade Organization (WTO) was supposed to make Diarra's modest wishes come true. Launched in 2001, the Doha "development" round is intended to thrash out new trade arrangements for agriculture, with a specific focus on reducing the rich world's subsidies and opening Western markets to the developing world's producers. In return, the vision goes, the developing world will allow more access to its service industries, such as insurance and banking...
...protesters from around the world, and some 3,500 journalists. What's striking this time is the palpable nervousness in the air. The meeting is billed as critical for wrapping up a new multilateral trade accord, the ninth since 1947. This one is known as the Doha Development Round because it was conceived four years ago in the Qatari capital and is supposed to give a special boost to poor countries. But at a moment of rapid change in the world economy, with China emerging as an industrial colossus and India and Brazil starting to throw their weight around...
...technical talk?the WTO has a language of its own that includes arcane concepts such as "Swiss coefficients" and "amber box support" (don't ask)?it's easy to lose sight of the big question: Does it really matter if the Hong Kong talks sputter and the Doha Round fails? The global economy, after all, has been humming along nicely under the old rules, which date back to the Uruguay Round in 1994. Since the U.S. bounced back from its post-9/11 slide, world economic growth has been more buoyant than at any time in the past three decades...
...trade barriers that had been eliminated earlier in the year. That sort of backsliding, coupled with efforts by many countries to negotiate bilateral or regional trade accords outside the WTO framework, sends shivers through multinational corporations, who are the first to feel the impact of trade restrictions. The Doha round is needed to "keep in check the ever-present threat of protectionism," says a petition signed this month by the chief executives of 60 companies including Microsoft, Nestl? and corporations as far afield as China and Pakistan. The statement urged governments to "redouble their efforts to break...