| China battles fierce weather
BEIJING, Jan. 29 -- Buildings are collapsing, the transport system is on its knees and the local power company is running out of steam - such is the impact of the heaviest snows to hit Shanghai in 17 years. And the cold snap is not over yet. On Monday, the Shanghai meteorol ogical bureau upgraded its icy roads alert to the second-highest possible and warned people to take extra care on treacherous streets. It forecast the snow would abate in the night and but said today would remain cold. So far, some 37 buildings have collapsed under the weight of the snow, with 20 people reported injured. Local transport authorities said all highways connecting Shanghai and nearby cities have been closed and at least 2,000 buses have been cancelled.
Inflation hits 3pc
There are more worrying signs in Australia's latest measures of inflation. Today's cost of living figures from the Bureau of Statistics are seen as crucial ahead of next month's interest rates decision from the Reserve Bank. The Consumer Price Index has risen a slightly higher than expected 0.9 per cent, driven by petrol prices, banking costs rising rents and domestic holidays. That takes annual inflation to 3 per cent, which is right on the Reserve Bank's upper limit. Perhaps more importantly, the central bank's own two underlying measures have surged to 3.8 and 3.4 per cent. Tags: business-economics-and-finance, consumer-finance, economic-trends, australia .
Vladimir Putin Interview With Time Magazine
How we arrange our authority structure is Russia's sovereign right. My personal opinion is that the number of terms should be limited. QUESTION: As you know, the American presidential campaign is beginning. Any candidate, including even the current president, can be but envious of the popularity ratings that you have in Russia. That is why our readers, the American people, cannot understand why the Russian pre-election campaign was not more open. And why was Mr Kasparov arrested, even for a short time? And why would you, Mr President, such a popular man, not allow the press and the opposition to proceed freely? In the American context, doing so would have made you even more popular. VLADIMIR PUTIN: Why do you think Mr Kasparov was speaking English rather than Russian when he was detented? Did this not occur to you? I think that first and foremost his deeds were not aimed at his own people but rather at a Western audience.
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