National / International News
Pharmaceutical companies have one very obvious reason to avoid developing drugs and vaccines for infectious diseases like malaria and tuberculosis: There’s basically no money in it.
That’s because most people with those conditions are poor and have little means to pay. So what kind of incentive do you need to get drug makers to take on global health epidemics? The answer may be a new index that ranks companies by who has the most effective drugs.
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It's time for Silicon Tally! How well have you kept up with the week in tech news.
Voters casting their ballots in this weekend's general election in Greece know that much is at stake. A radical, far-left party called Syriza is leading in the polls. It's promising to roll back the deep public spending cuts imposed by the outgoing government and renegotiate Greece’s $280 billion bailout deal. Such moves would have big repercussions for the European economy and the global economy, too.
Despite the high stakes, the campaign here has lacked razzmatazz and the mood is subdued. Conservative politician Adonis Georgiadis, however, doesn't pull his punches when he talks about the possibility of a Syriza victory.
"If they win, we will be bankrupt within a month, maybe," he says.
Georgadis, a former minister in the outgoing government, warns that Syriza’s plans to unpick the carefully-negotiated deal on Greece’s bailout would lead to the country defaulting and being expelled from the Eurozone:
"Unfortunately, it's a big possibility and it will destroy us. Two months. I have totally no doubt about it." he says.
But Syriza’s chief economist Yiannis Milios argues that austerity measures and crippling loan repayments are already destroying Greece. He says some 60 percent of young Greeks are without work and that has to change. He doesn't believe recent reports saying the Germans would rather see Greece default and leave the euro than renegotiate the bailout.
"They're bluffing" he says.
Former minister Adonis Georgiadis thinks Syriza is making a dangerous mistake. The Germans, he warns, never bluff.
Bluffing or not, Germany must respect the democratic will of the Greek people, says Syriza candidate and economist Yanis Varoufakis. He predicts that if Greece is forced out of the Eurozone, the currency union will ultimately fragment and collapse.
"When one third of the world economy—that’s Europe—implodes in this way as the result of the fragmentation of the Eurozone, we’re going to be facing a post-modern 1930’s," he says.
Right now, the prospect of a euro collapse, let alone a 1930’s Depression, still seems remote. But the potentially massive repercussions of this weekend's election in a small corner of Europe is one more risk for the world to worry about.
That's the amount of Greece's bailout deal, which the radical, far-left party called Syriza, promises to renegotiate should they win the upcoming elections. Such moves would have big repercussions for the European economy and the global economy, too.$106 million
Abercrombie and Fitch's expected profits from last year, less than half of what they made in 2012. The flagging sales eventually lead to longtime CEO Mike Jeffries ouster late last year. Jeffries made Abercrombie his life, at times quite literally, and a new Businessweek feature shows Jeffries' uncompromising vision and eccentricities built one of the top brands in the world, but also lead to its downfall.6.5 pounds
That's how many pounds of Crystal Meth a drone attempted to carry over the Mexico/U.S. border before crashing. But you already knew that didn't you? So why not prove your knowledge of the week in tech news by taking our quiz over at Silicon Tally?$11,000
That's how much more money the bottom 80 percent of the population would have per household if today's economy had the income distribution it had in 1979, the Financial Times reported. Meanwhile, the top 1 percent would have $750,000 less per household. Further evidence that the rich are getting richer, and fast.$40,000 to $80,000
That's the range of incomes of those most likely to lose their health insurance as a result of a Supreme Court decision on King v. Burwell against federal subsidies in states that don't run marketplaces for healthcare exchanges. As reported by the New York Times, other characteristics of this group include being predominantly white, Southern, employed and middle-aged.162,000
The approximate number of drivers working for Uber, quadruple the amount from just a year ago. That's according to new data released by the company, which shows Uber drivers are a rapidly growing and diverse group, but one with very high turnover: 11 percent of drivers quit after a month, and half stop driving after a year.
Luke Whitworth, 23, came to Guinea from South Carolina 13 months ago. That's when the outbreak there began. His sponsoring group gave him the option to leave — but he's determined to stay.