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Daily Archives: February 26, 2013
By Julia Zhu in London
- Marissa Mayer provided free food and new smartphones for employees, borrowing from the playbook of Google, her old employer. But now she’s abolishing Yahoo’s work-at-home policy and ordering everyone to work in the office.
- With some $85bn in spending cuts set to kick in at the end of the week, local officials, business owners and people who rely on government services across the US are trying to work out what the sequestration will mean for them. Check out this New York Times interactive which explains some of the likely impact.
- The ex-spy chief, a wanted terrorist and one of the most feared figures of Iran’s Islamic establishment, Ali Fallahian, has announced his candidacy in the country’s June 14 presidential vote, claiming stabilizing prices and fighting inflation will be among his priorities if elected.
- Saudi Arabia has financed a large purchase of infantry weapons from Croatia and quietly funneled them to anti-government fighters in Syria in a drive to break the stalemate that has allowed President Bashar al-Assad to cling to power, according to the New York Times.
- Ryan Lizza writes for the New Yorker on Eric Cantor, the Republican Majority Leader. “People don’t think Republicans have their back,” Cantor says, arguing that the problem is not “necessarily our policies” but how “we’ve been portrayed.”
- Gideon Rachman examines the book Why Nations Fail, which has been compared to Adam Smith’s Wealth of Nations, and argues that the complacent worship of a dysfunctional political system could be one of the reason why nations can fail.
Two interesting trends that have shown up in the data from Italy’s election today.
1) The preliminary election results among the nearly 3.5 million Italian voters living abroad show a very different picture from the results within Italy.
The austerity measures and market-friendly stance of the ex-Prime Minister Mario Monti managed to convinced over 27 per cent of the votes of Italians living in Europe and in North and Central America, where his movement came in second after Pier Luigi Bersani’s Democratic Party (PD). Within Italy, fewer than one in ten Italians voted for him.
Meanwhile, the comedian-turned-political leader Beppe Grillo successfully won over Italians in the plazas where he held numerous rallies, but it appears that his anti-establishment message was not heard so sympathetically by Italians around the world. Read more
Italy ‘s parliamentary elections ended in political deadlock on Monday night with little hope of a clear majority. Join the FT as it covers the unfolding political and economic drama. By Lina Saigol.
Political deadlock and impending chaos, a rejection of EU-driven austerity, and market uncertainty are the main three themes in the media commentary on the Italian election that had yet to be declared on Tuesday morning.
“The reality is that Italy today is almost ungovernable,” writes Fabrizio Goria on Linkiesta, a news website. “And it will not take long for the markets to react.”
The headline in La Repubblica , the leading centre-left daily, doesn’t really need translating:
Italia ingovernabile: Senato spaccato, Grillo primo partito
“An ungovernable country,” concludes Massimo Razzi inside. “Politically, but also technically. With few ways out given the almost unworkable or numerically insufficient alliances.” Read more