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. Last Updated: 07/27/2016


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The Weak Link

The selling panic that is rocking equity markets is unlikely to topple the global financial system. Investors worry that financial institutions will curb lending in response to the subprime mortgage crisis in the United States.

State Capitalism as a Model for Development

In the last five years, the weight of state-owned firms in the Russian economy has expanded dramatically, leading some observers to speak of a reversal of market reforms. Such concerns are overstated, however.

Caribbean Braces for Hurricane Dean

Hurricane Dean bore down on Jamaica and the Cayman Islands on Sunday and threatened to pound Mexico's Yucatan Peninsula as a rare Category 5 storm.

Karzai Points to Taliban Threat On Afghan Independence Day

Afghanistan celebrated its independence from British rule Sunday with a military parade and a display of national dresses on the grounds of a stadium once used by the Taliban for public executions.

Fed Cuts Rate, Cheers Investors

The U.S. Federal Reserve approved a half percentage-point cut in its discount rate on loans to banks, a dramatic move designed to stabilize financial markets roiled by a widening credit crisis.

Rioting Hits Peru After Major Quake

The government sent more troops to stem looting in earthquake-shattered Peru as desperate families huddled in makeshift shelters and hope diminished for rescuers searching mountains of rubble with sound detectors and infrared cameras.

Turkish Airplane Hijacked

Two men wielding a fake bomb and claiming al-Qaida ties hijacked a Turkish plane, holding passengers and crew hostage before surrendering in Antalya more than four hours later, authorities said.

Growth Spurt Is No Mask for East German Woes

Between the shelves of product catalogs on the wall of a Spartan office in an eastern German lighting factory sits a framed quotation, in bold black lettering on silver paper, from Winston Churchill.

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