The Bank of England also has done quantitative easing
First a big cruise liner…now a big economic gamble. The U.S. Fed’s decision to print an extra $600 billion takes America and the rest of the world into unchartered territory. We know why Bernanke did it. To try and stop deflation from undermining the U.S’s fragile recovery. But it’s a risky business, and we don’t yet know if it will pay off. On this week’s Q&A, Quest and Ali do battle over just how exactly you create money from nothing, and whether it can end the economic downturn. Tune in tonight, Thursday to watch and leave us ideas for next week’s Q & A in the comments section (right underneath here).
There has been a bit of a tit-for-tat war going on in the South African press between two outspoken men.
One, Kenny Kunene, a nightclub owner, held a lavish 40th birthday party recently, during which sushi was reportedly served on the bodies of half-naked women and guests drank expensive imported whisky and champagne.
Leading government and African National Congress leaders attended the party, according to press reports. Other newspapers show photos of the flamboyant Kunene standing in front of his expensive sports car, which has “So What” written on the number plates.
This kind of in-your-face conspicuous consumption has “sickened” the main labur union leader, COSATU’s Zwelinzima Vavi, who says this kind of behavior from the new black elite sets a bad example and insults the poor of South Africa.
Kunene says he spent more than $100,000 on the one-night bash - in a country where unemployment is rife and many families struggle to put food on the table.
My question is - how much “bling” is too much? Are African high rollers judged more harshly than, say, big-spending Russian oligarchs? Or is Vavi correct in saying that South Africa’s rich should be more circumspect with their wealth?
CNN International is launching a new weekly series called The Boss.
The Boss will air across CNN International’s business shows, including the flagship business program Quest Means Business, presented by Richard Quest.
The Boss will follow three business leaders from Asia, Europe and the United States, to get a unique insight into what it’s like to run a company.
How does a company attract the best staff? How is it possible to motivate people during troubled economic times? And how does an individual responsible for a multi-million dollar turnover balance long hours and hefty responsibilities with family life?
Hong Kong, China (CNN) – Although the news media focuses on the GMs, Microsofts and Wal-Marts of the world, it’s really Mom-and-Pop shops that make the world economy go round.
Most jobs in any economy are created and sustained by small and medium-sized businesses. And the seeds of recovery are often sown through the entrepreneurial blood of laid-off workers.
Indeed, some trace the tech entrepreneurial boom in the 1990s to the round of layoffs that occurred in the U.S. after the 1987 stock market crash.
Entrepreneurship – and the South Korean economy – soared in the years following the devastating 1997-98 Asian Financial Crisis. So in the aftermath of the greatest world recession since World War II, it’s worth watching which countries are doing the most to help foster entrepreneurial growth.
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CNN International's business anchors and correspondents get to grips with the issues affecting world business, and they want your questions and feedback.