Economy

5:28am

Thu January 19, 2012
Business

So, Um, What Is A Private Equity Firm?

Originally published on Thu January 19, 2012 1:57 pm

Before entering politics in the 1990s, Romney co-founded Bain Capital, one of the nation's largest and most profitable private equity funds.
David L. Ryan Boston Globe via Getty Images

In the run-up to Saturday's GOP presidential primary in South Carolina, candidates have clashed over the role of Bain Capital — a firm that either creates or kills jobs, depending upon whom you believe.

Front-runner Mitt Romney sees the bright side. Before entering politics in the 1990s, he co-founded Boston-based Bain Capital, one of the nation's largest and most profitable private equity funds. He has said he created 100,000 jobs while at Bain.

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10:01pm

Mon January 16, 2012
Europe

Italy's Bad Economy Leaves Immigrants Vulnerable

Immigrants from Senegal protest against racism in Florence, Italy, on Dec. 17, 2011. Four days earlier, an Italian man killed two African street sellers and wounded three others in a shooting spree in Florence.
Maurizio Degl'Innocenti EPA /Landov

The Italian city of Florence prides itself on welcoming foreign migrants. But the killing of two Africans last month has raised new questions about racism in Italy.

With the economic crisis worsening, there are signs xenophobia could increase as Italians start to compete with immigrants for a slice of the shrinking economic pie.

On Dec. 13, a known right-wing extremist opened fire in two separate marketplaces, leaving two Senegalese dead and seriously injuring three others. The killer then shot himself.

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10:01pm

Thu January 12, 2012
Economy

In GOP Campaign, Private Equity Firms Draw Flak

Originally published on Fri January 13, 2012 10:20 am

Was Mitt Romney a job-creating turnaround artist? Or was he, as some on the campaign trail have said, a "vulture capitalist"? That question has become a top issue in the Republican presidential primaries.

In the 1980s, Romney ran a private equity firm called Bain Capital. It's an industry where it's hard to avoid getting your hands dirty.

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4:09am

Sat January 7, 2012
Economy

What Jobs Numbers Mean For Obama's Employment

Originally published on Sat January 7, 2012 11:38 am

President Obama speaks about jobs in Manchester, N.H., in November. The Labor Department reported Friday that unemployment dropped to 8.5 percent.
Charles Dharapak AP

President Obama acknowledged Friday that the economic recovery has a long way to go. Still, he was able to share some good news. The Labor Department reported that U.S. employers added 200,000 jobs in December, and the unemployment rate fell to 8.5 percent.

"Obviously, we have a lot more work to do," he said, "but it is important for the American people to recognize that we've now added 3.2 million new private-sector jobs over the last 22 months."

Those better-than-expected numbers could help Obama as he tries to hang onto his own job.

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4:01am

Sat January 7, 2012
World

Italian Shopkeepers Say 'No, Grazie' To More Hours

Originally published on Sat January 7, 2012 5:50 pm

A butcher shop serves customers in a Rome market on Dec. 31. A new law went into effect in Italy on Jan. 1, allowing shops, cafes and restaurants to stay open 24/7 throughout the year.
Alberto Pizzoli AFP/Getty Images

Italy's new prime minister, technocrat Mario Monti, wants to stimulate growth by boosting productivity and competitiveness. A new law that went into effect Jan. 1 allows shops, cafes and restaurants to stay open 24/7 all year long, holidays included. This deregulation puts Italy ahead of many European countries, but many Italians are resisting.

Friday — the Day of the Epiphany — was the first holiday of the year. In Rome, however, hardly anyone took advantage of the liberalized shop hours.

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