A man drinks a pint at the Marquis of Granby pub in Westminster, London, in 2004.
Graeme Robertson/Getty Images
July 29, 2009 Changing consumer tastes, a two-year-old smoking ban and the deepening economic recession have hit pubs hard. But for thousands, the death blow has been dealt by rising government taxes on beer. The British Beer and Pub Association says an average of 52 pubs are closing each week.
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"Isn't it lucky that Norway has plenty of money? A big, big oil fortune," says Norwegian tour boat Capt. Knut Jansen.
July 29, 2009 Unlike almost every other country in the West, Norway remains relatively unscathed by the worst financial crisis in decades. While most nations spent during boom years, Norway saved. Today, housing prices are rising, interest rates are low, and frugal management of income from Norway's huge oil and natural gas reserves have helped the country build one of the world's biggest investment funds.
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