Word: sectored
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...problem of unemployment, they don't really address that particularly well," says Dennis J. Snower, president of the Kiel Institute for World Economics. He's particularly critical of the €2 billion earmarked for transport infrastructure. "Trying to improve the working of the economy by choosing a sector like that hasn't worked in most countries," Snower says. But there were some supporters, including Jürgen R. Thumann, president of the Federal Association of German Industry: "I'm very satisfied with the results. It's another step, even though reform policy is certainly not at an end." The problem...
...from a high of 69% in December and 63% late last month. Stéphane Rozès, deputy director general of CSA polling agency, which conducted the survey, says growing resentment over government reform, rising unemployment, falling spending power, and the E.U.'s effort to liberalize the service sector could further mobilize the disaffected. "There's growing desire to punish leaders, and blame Paris and Brussels alike for everything going wrong," Rozès explains. "Most people are basing how they'll vote on anything but the constitution itself." That's grim news for the yes side, which includes...
France Asks for a Raise Forget the 35-hour week. French workers have reverted to a more traditional demand: higher pay. The wage issue shot to the top of the political agenda this month, driven by public-sector workers who staged mass demonstrations. Last week, the government of Jean-Pierre Raffarin promised a 1% raise for the public sector, on top of the 1% already awarded for this year. Private-sector employers are furious, saying the hike will set a national precedent when they can ill afford it. "If we increase pay without increasing productivity, we'll be destroying competitiveness...
...Total and luxury goods maker LVMH. Nearly everyone feels the pinch; the national statistics institute predicts that household purchasing power will be virtually stagnant in the first half of this year. Meanwhile, it's unclear where the government will find the extra €1.6 billion to fund the public-sector raise - new Finance Minister Thierry Breton last week downgraded official forecasts of economic growth this year, from 2.5% to nearer 2%. A Bad Day At The Bourses Is the boom off in Central Europe's stock markets? After posting record gains in recent months, bourses across the region stumbled last...
...working for a multinational mining-finance group, he was among the first investors in Sina.com which became one of the world's largest Internet portals. His prescience won the attention of Beijing economic planners eager to set up a local VC firm to jump-start the country's technology sector, and in 1999--with $5 million in state investment and a board of directors made up of senior government ministers--NewMargin entered the market as an odd hybrid of old-school state planning and free-market hustle. It now counts telecom giants like Motorola and Alcatel among its investors...