President Nieto isn’t wavering in his commitment to reform Pemex, Mexico’s national oil firm. Though he estimated the specifics won’t be sussed out for another “two to three months,” he told the FT that he remains confident the reforms “will be transformational.”A transformation is just what Pemex needs, because the state-owned oil company has proven itself to […]

Philadelphia schools might open next year without new books, art or music classes—and without thousands of current employees. The state-appointed School Reform Commission passed what critics call a “draconian” budget of $2.4 billion for Philadelphia schools last month that would drastically cut education spending across the city. The New York Times reports: Pink slips were […]

In the aftermath of the 2011 Libya intervention, the White House’s recent decision to step up aid to the Syrian uprising, and the appointment by President Obama of two so-called “humanitarian hawks” to high-level positions, the “Responsibility to Protect” (R2P) is on the lips of lawmakers, NGOs, and commentators more than usual these days.The latest […]

Ain’t no sunshine when Siemens is gone: The massive German multinational is getting out of the solar business after posting a loss of more than $1 billion in its two years of operation. The engineering company is a world leader in wind turbine development, but its foray into solar production has been a massive flop.Siemens’ […]

Just as Assad is gaining the upper hand in the Syrian Civil War, Egyptian President Mohamed Morsi has decided to cut ties with him. The countries that once briefly formed the United Arab Republic will no longer have diplomatic ties for as long as Assad remains in power and the bloody conflict continues, reports the […]

With the discovery of shale reserves in states like Ohio, Pennsylvania, and Indiana, a number of hard-hit cities in the Midwest have seen money and investment pour in as manufacturing companies retool themselves to cater to the oil and gas companies setting up shop nearby. Political leaders, in turn, are eager for this manufacturing revival […]

Handing over control of a tourist hotspot to a party that loathes tourists is asking for trouble, but that’s exactly what Egypt has just done. On Sunday, President Morsi appointed Adel al-Khayat of the Gamaa al-Islamiyya party as Governor of Luxor, a region home to the ruins of two temples and several monuments, widely known […]

In Detroit, bankruptcy lawyer turned city manager Kevyn Orr is playing hardball while preparing the city for a likely Chapter 9 bankruptcy. He’d like the various stakeholders to negotiate a “pre-packaged” bankruptcy in order to avoid a drawn-out and extremely costly legal battle, but reaching agreement could be incredibly tough, as Reuters points out: [G]etting everyone […]

Roughly 20 percent of the world’s workforce works from home at least once a week. Via Meadia’s telework coverage often focuses on the American experience, but remote working is frequently generating more success stories abroad. According to research done by Ipsos, China, Russia, Indonesia, Turkey, and Saudi Arabia all have larger percentages of workers working […]

To many it seems inconceivable that the mighty Chinese economy could be headed for major trouble, but recent news should give even the most bullish something to ponder. Consider this analysis from the Financial Times: The problems stem from China’s industrial policies and a vast array of subsidies that allow whole sectors to spring up […]