1 New gen is broke (San Francisco Chronicle) Weighed down by higher-than-average unemployment, student-loan debt and concerns that the economy will continue to struggle, Americans 18 to 34 years old are increasingly reluctant to shop, according to researcher WSL Strategic Retail. Almost a quarter of 18- to 34-year-olds don't make enough money to cover basic needs such as rent, car payments and food, WSL said. These shoppers don't have much to spend and seek promotions instead of desirable brands. Advertisers, television networks and retailers have long chased the youth market, traditionally a group with the time and desire to stay current and fashionable. Companies tried to hook customers in their 20s, hoping to gain a loyal customer for decades to come. That may no longer work for retailers.
2 London stays top investment centre (BBC) London remains the top city in the world for foreign investment, according to a report that reflects the rise of emerging economies. The next two cities are Shanghai and Hong Kong, China's financial capitals, consulting firm KPMG and Greater Paris Investment Agency said. Brazil's Sao Paulo had the biggest leap, to fourth, increasing investment by 160% over the past two years. Other cities in the Bric group of nations also rose strongly. Brazil, Russia, India and China are all growing at a blistering pace, while Europe has been in a slump and Europe hard-hit by a sovereign debt crisis. The five cities at the top - including New York - took 50% of the total investment to the biggest 22 cities.
3 Fuel poverty in England (BBC) Fuel poverty in England is likely to worsen, despite measures to try to eradicate it, a government-commissioned report has warned. Some 7.8 million people could not afford their energy bills in 2009, its author, Prof John Hills said. This is due to rise to 8.5 million by 2016. The government has said it is committed to tackling the problem which has been linked to 2,700 deaths a year. Prof Hills' interim report last year said almost 3,000 people died each year from problems linked to fuel poverty such as respiratory or cardiovascular disease. It said the problem was getting worse as energy costs rose. "People who find their homes hard to heat are pumping out carbon into the atmosphere which is blocking some of the efforts to reduce carbon emissions."
4 Zimbabwe unemployment at 80% (BBC) Zimbabwe's government could "close" unless projected diamond revenues start to flow into the treasury, Finance Minister Tendai Biti has warned. He said the mines ministry had informed him that no diamond auctions had been held this year. Ministries in the unity government are split between President Robert Mugabe's Zanu-PF and the MDC party. Analysts say it has achieved stability in Zimbabwe, and after a decade of steep decline the economy is slowly recovering, but it remains fragile and tensions are rising again. With unemployment at 80%, the country's tax and revenue base remains extremely low. The finance minister said 70% of government revenue was spent on wages - leaving little else for anything else, without the diamond money.
5 India intimidates NGOs (Khaleej Times) Indian Prime Minister Manmohan Singh’s remarks that foreign-funded non-governmental organisations are pushing alien agendas to scupper nuclear enterprises has stirred up a hornet’s nest. Apart from piquing many organisations, which are doing commendable work in the areas of social uplift, health and poverty alleviation, the comment has also spotlighted the fraught debate over foreign funding for NGOs. In all, about 125,000 organisations classified as “development NGOs” which receive foreign funding, have been slapped with notices of scrutiny.
In an inter-connected world, this paranoia seems misplaced, as governments need to accommodate global activists and their contrarian voices. Rather than trying to control civil society groups and movements by force, the government would do well to regulate them just as it regulates foreign investment or companies by monitoring their fund usage. NGO activists point out, they will happily accept domestic funding rather than foreign except that the former is hard to come by.
What ruling establishments need to understand is that it is impossible to firewall the voluntary sector in a democracy. The UPA government needs to adopt a middle road, which allows financial regulation for the NGOs and lets them take up developmental projects that benefit both civil society and the establishment. Coercion and harassment would make it seem as if the future of protests itself is under threat in the world’s largest democracy.
6 Putin’s predicament (Khaleej Times) Vladimir Putin faces three new constraints that augur stagnation and increasing turbulence: his relative weakness, the emergence of an opposition and a thin margin of error. Extrapolating from the recent elections, Putin has the support of perhaps 50% of the voting population. Putin’s weakened status will make governance more difficult. Bureaucrats will take a more tentative approach toward implementing Kremlin initiatives, especially ones that might elicit public ire. Governors will not only be looking to Moscow for direction, but also over their shoulders for potential regional unrest, complicating their ability to govern.
The new opposition movement will also constrain Putin. It is diverse, encompassing middle class liberals, leftists and nationalists. The protests will dwindle in coming months, as opposition leaders plot a longer-term strategy. But the middle class will remain committed, especially because their real incomes are stagnating as their expectations rise. And the core complaint – corruption – will keep the movement vibrant.
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