Altaf Hussain, who heads the Muttahida Quami Movement (MQM), was taken into custody on Tuesday. His arrest has sparked fears of violence in the city of Karachi, an MQM stronghold.
Author Khaled Hosseini.
Success in publishing is about a lot of things. Sales, of course. Staying power. And the business of words.We've asked some of our favorite contemporary authors to share the numbers they think about as they write -- how they infuse the economic world around them into storytelling.
Listen to this installment from best-selling author Khaled Hosseini ("The Kite Runner", "A Thousand Splendid Suns") in the audio player above. He talks about the very real, very human economics in his new book, "And the Mountains Echoed". We've reprinted the first chapter here:
Back home, in Shadbagh, Pari kept underneath her pillow an old tin tea box Abdullah had given her. It had a rusty latch, and on the lid was a bearded Indian man, wearing a turban and a long red tunic, holding up a steaming cup of tea with both hands. Inside the box were all of the feathers that Pari collected. They were her most cherished belongings. Deep green and dense burgundy rooster feathers; a white tail feather from a dove; a sparrow feather,dust brown, dotted with dark blotches; and the one of which Pari was proudest, an iridescent green peacock feather with a beautiful large eye at the tip.
This last was a gift Abdullah had given her two months earlier. He had heard of a boy from another village whose family owned a peacock. One day when Father was away digging ditches in a town south of Shadbagh, Abdullah walked to this other village, found the boy, and asked him for a feather from the bird. Negotiation ensued, at the end of which Abdullah agreed to trade his shoes for the feather. By the time he returned to Shadbagh, peacock feather tucked in the waist of his trousers beneath his shirt, his heels had split open and left bloody smudges on the ground. Thorns and splinters had burrowed into the skin of his soles. Every step sent barbs of pain shooting through his feet.
When he arrived home, he found his stepmother, Parwana, outside the hut, hunched before the tandoor, making the daily naan. He quickly ducked behind the giant oak tree near their home and waited for her to finish. Peeking around the trunk, he watched her work, a thick-shouldered woman with long arms, rough-skinned hands, and stubby fingers; a woman with a puffed, rounded face who possessed none of the grace of the butterfly she’d been named after.
Abdullah wished he could love her as he had his own mother. Mother, who had bled to death giving birth to Pari three and a
half years earlier when Abdullah was seven. Mother, whose face was all but lost to him now. Mother, who cupped his head in both palms and held it to her chest and stroked his cheek every night before sleep and sang him a lullaby:
I found a sad little fairy
Beneath the shade of a paper tree.
I know a sad little fairy
Who was blown away by the wind one night.
He wished he could love his new mother in the same way. And perhaps Parwana, he thought, secretly wished the same, that she could love him.
Reprinted from And the Mountains Echoed by Khaled Hosseini by arrangement with Riverhead Books, a member of Penguin Group (USA) LLC, Copyright © 2014 by Khaled Hosseini.Marketplace for Tuesday June 3, 2014 Gillian Flynn on the economics behind 'Gone Girl' And the Mountains Echoed Author: Khaled Hosseini Publisher: Riverhead Trade (2014) Binding: Paperback, 448 pages Produced by Nancy FarghalliPodcast Title Khalid Hosseini on the economics behind 'And the Mountains Echoed'Story Type CommentarySyndication SlackerSoundcloudStitcherBusiness InsiderSwellPMPApp Respond No
In June, Russia serves as the president of the United Nations Security Council. Already, that has meant a focus on Ukraine. Russia wants the Ukrainian government to end its military crackdown on separatists. It has also called for consultations on the humanitarian situation in the country.
President Obama is starting a European trip in Poland, where he will meet allied leaders from central and eastern Europe. They are worried about Russia's intentions after the recent events in Ukraine.
Some Syrians fear that after the elections, President Bashar Assad's regime will get worse. They suspect that truces will evaporate, arrests will increase and more of the country will be partitioned.
The Polish city of Krakow is only the latest to withdraw its bid for the 2022 Winter Olympics after a public referendum. So many localities have dropped out of the running that the games might just be hosted by the last contender standing. Robert Siegel talks with Olympic historian David Wallechinsky about what's behind the loss of interest.
New poll numbers from the Pew Research Center show widespread dissatisfaction in Brazil as the country prepares for the World Cup. The president gets negative marks, and few think the tournament will be positive for Brazil.
Syrians are voting in the country's presidential election, even as a civil war continues to rage around them. Sam Dagher of The Wall Street Journal is in Syria, and he discusses the disputed election.
A new documentary from the director of "An Inconvenient Truth" is called "Spent: Looking For Change." It’s about people living on the margins of the American financial system. And it has an unlikely sponsor: American Express.
"Spent" profiles several families as they navigate check cashing services, payday lenders and, of course, the fees that come with low balances and overdrafts.
About one in three Americans has no relationship with a bank at all, or a tenuous one. All told, this segment of the population spends around $90 billion a year on fees. AmEx wants a piece of that pie. The company, which has traditionally focused on the wealthy, is redirecting that focus to low income consumers.
"We really want to move our brand from being an exclusive brand to being a welcoming and inclusive brand," says Dan Schulman, president of enterprise growth at American Express.
Amex teamed up with Walmart to offer an all-mobile banking service called Bluebird. They've also rolled out a line of pre-paid cards. The services don’t rely on steep fees that usually come with financial products targeted at low-income customers.
"We’re trying to reimagine the consumer financial services landscape in a way that’s very different from traditional bank branches," explains Schulman.
Thanks to the ubiquity of smart phones and internet access, there’s currently a race to the bottom in financial services.
"We’re talking about tens of millions of people," says Andrew Zolli, author of "Resilience: Why Things Bounce Back." "Not all of them with lots of money, but if you put them together, it’s real money."
Case in point: last year, venture capitalists put almost $1 billion into financial start-ups, mostly catering to low and middle income Americans.
"We're talking about new kinds of accounts that provide the same kinds of functions of a traditional financial services relationship without the same kind of high cost," says Zolli.
American Express is the first major financial institution to aggressively target lower income consumers in this way, but Zolli expects other big players will soon follow suit.Marketplace Morning Report for Wednesday June 4, 2014by Stacey Vanek SmithPodcast Title For American Express, low-income is the new blackStory Type FeatureSyndication SlackerSoundcloudStitcherSwellPMPApp Respond No
The bodies of almost 800 children were discovered in an unmarked septic tank. The facility was run by nuns from 1925-1961.
Suppressing its own people with tanks and guns 25 years ago was a pivotal act of modern China. Beijing hoped economic prosperity would make people forget. But the legacy of Tiananmen remains potent.
From the Marketplace Datebook, here's a look at what's coming up Wednesday, June 4:
In Washington, the Commerce Department reports on international trade for April.
The Senate Budget Committee holds a hearing on "The Impact of Student Loan Debt on Borrowers and the Economy."
The Federal Reserve releases its latest Beige Book summary of commentary on current economic conditions.
And it's a day to run around town...or many miles. June 4 is National Running Day.