PRI: Global Economy
While the drop in oil prices is a short term boom, there...12/19/14
The US economy has been bolstered by falling oil prices. But all is not roses — as parts of the economy, including the booming oil drilling — could be hurt if the prices remain this low.
A plunging Russian ruble generates nervousness and humor
Russians had a rude awakening this morning when they discovered that their interest rates doubled overnight AND the ruble plunged to its lowest level. The Russian Central Bank increased interest rates by 7 percent, hoping to avert a ruble freefall....
We actually pay CEOs like menial laborers —and here's why
The modern American economy is based largely on talent and knowledge, but the way we pay people never caught up with the country's big economic changes. That's how CEOs get paid huge amounts, even though the incentives don't work the way they used to.
Phevos the Tiger travels 7,000 miles to a new life in California
Catch a tiger by the tail — and then pop him in a crate and fly him 7,000 miles. Animal lover David Barnes raised nearly $20,000 to relocate a tiger named Phevos from a bankrupt Greek zoo to a new home at an animal sanctuary in California.
China's Internet censor-in-chief gets a warm welcome at Facebook...
Washington has taken an increasingly harder line with China on the issues of computer hacking and online censorship. But when the country’s top official for Internet policy – Mr. Lu Wei – visited the office of Facebook founder, Mark Zuckerberg, he got...
Inflation —and hotness —make economists superstars in Argentina
He's not a rock star or an actor, but Martín Lousteau is a celebrity in Argentina — even though he's an economist. He's also not alone. The quirky popularity of attractive economists in Argentina belies the country's real, everyday problems with...
The decline in oil prices will put the squeeze on Iran and Russia — and...
The price of a barrel of oil has fallen to its lowest level in more than half a decade — and it's still falling. That's put a major dent in the economies of some of the world's largest oil producers, like Iran and Russia. But in the US, it's cause for...
Black Friday bargains —and brawls — aren't just for Americans anymore
Black Friday shopping has long been a post-Thanksgiving tradition —and sometimes a national embarrassment —in the US. Now other countries, like Britain and Canada, have started adopting the American festival of bargain-hunting.
Canada is slashing its spots for foreign guest workers, and resort...
Temporary foreign workers are the backbone of seasonal resort towns. But a new law in Canada is making it harder to hire them, upsetting local business owners who say they won't have the workforce they need during peak tourist season.
India's street vendors are hanging on, but malls and supermarkets are...
Street vendors and hawkers are a vital part of life for many Indians, who get their daily needs like fruit and vegetables from carts and stalls. But as malls and supermarkets spring up around the country, the hawkers are struggling and worried for...
Venezuelans are rushing to the store to buy Barbie dolls after the...
Venezuelan President Nicolas Maduro has ordered business owners in the country to drastically the prices of Barbie dolls. It's part of his "Operation Merry Christmas"— and people are loving it.
The gas-guzzling Hummer makes a comeback as fuel prices plunge
Drivers are so happy to see gas prices plummeting that sales of big SUVs are back up in a big way —even those of the notoriously inefficient Hummer. But analysts say that people shouldn't wish for too much of a good thing.
What is a ruble and why is it in trouble?
The Russian currency, the ruble, is heading downward, after the central bank in Moscow ended its efforts to prop it up. That could mean political trouble for Vladimir Putin.
A women's rights group is battling the 'women's tax' in France
A women's rights group in France is claiming that women are charged more than men on what are basically the same products. Now they're taking the issue to the government and demanding an end to what they call a tax on being female.
As businesses enter the space race, the need to make a buck leaves...
Hundreds of people have booked flights with Virgin Galactic to go to space at $250,000 a ticket. But what exactly are people signing up for?
Telling women not to ask for raises wasn't a gaffe —it was a...
How should a woman ask for a raise? She shouldn't, said Microsoft's CEO at recent women's tech conference. But if that sounds shocking, it wasn't for many Indian women who have been told throughout their lives to keep quiet while the men are...
Ireland looks to close a major tax loophole, but some Irish want to...
An improving economy and declining unemployment mean that Ireland is finding its footing again, and looking to close a controversial loophole that let huge corporations avoid taxes there. But some Irish people think all's fair in love and finance, and...
A court rules that being an artist really is a business —maybe
No matter how much you may view your art as your life's work, the IRS can beg to differ. They did with Susan Crile, suing her for $81,000 in unpaid taxes. Now she's won a court decision against the tax agency, but it's not a cut-and-dry victory for...
Kenya is thousands of miles away from the Ebola outbreak, but tourists...
Kenya's tourism industry was just starting to recover from last year's attack on the Westgate mall in Nairobi. Now it's Ebola that's scaring people away —even though the country is nowhere near the outbreak in West Africa.
How do you succeed as an entrepreneur? Go crazy
There are plenty of entrepreneurs who have potentially groundbreaking —or at least profitable — ideas. But a new book says there are far fewer with the confidence to simply throw themselves into their projects, even though that may be the key to...
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