Postcard from Sao Paolo: Business

The world economy may be going to hell in a handbasket, but you wouldn’t know it in Maria Irece da Silva’s tiny cosmetics store in the impoverished favela of Jardim Carumbé. “The rich talk about the crisis but the poor don’t mention it,” says Da Silva, whose business — helping women look good in a country where style always trumps substance — is booming. Not even the worst recession in memory has stemmed the flow of shampoos, lipsticks and nail varnish from the shelves of her tiny beauty-aids store.

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Will the Economy Be Ahmadinejad’s Downfall?

President Mahmoud Ahmadinejad appears to believe that only desperate measures on the economy can save his presidency when Iranians go to the polls in June, but he suffered a shocking setback on Monday when the legislature dominated by like-minded conservatives blocked his key initiative. Ahmadinejad had proposed legislation in the Majlis, Iran’s parliament, that would have summarily withdrawn government subsidies on oil, gasoline and electricity, freeing up about $20 billion in government funds, of which he planned to transfer more than half in direct cash handouts to middle- and lower-income households

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Amid Pakistan Chaos, Musharraf Fancies a Comeback

When Pakistan’s civilian politicians united, last August, to force General-turned-President Pervez Musharraf from power, the moment was hailed as a democratic milestone in country long ruled by military men. But now, as the country’s two main political parties remain locked in an endless power struggle while Pakistan’s security and economic crises spiral dangerously out of control, Musharraf has stepped back into the public eye

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Obama’s honeymoon with Americans still going strong

President Obama is halfway through his first 100 days in office and he’s still enjoying a honeymoon with the American public, according to an average of recent polls. Obama’s job approval rating stands at 61 percent in a new CNN poll of polls, which averaged seven national surveys conducted over the past two weeks

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Report Says 1 in 50 U.S. Kids Are Homeless

Even before the financial and home foreclosure crisis hit full stride, the number of homeless children in America had reached an alarming level. The National Center on Family Homelessness released a report today that estimates that one in every 50 American children was homeless between 2005 and 2006. That totals roughly 1.5 million kids.

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North Korea’s Nuke Saber-Rattling: A Test for Obama

Stephen Bosworth, the diplomat President Barack Obama appointed to the thankless task of trying to persuade North Korea to give up its nuclear-weapons program, got quite a reception when he arrived on his first official visit to Seoul this week. The North Korean government in Pyongyang shut down the last military communication line between the two countries on the divided peninsula, temporarily halted all transit to and from a special industrial zone just north of the border and declared that if the U.S

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