Israel: ‘Iron Dome’ rocket shield test a success

Israel says it has successfully tested an anti-rocket system developed to protect the country from short-range rocket and artillery attack from Lebanon and Gaza, defense officials said. McLaren’s Hamilton was way off the pace in Friday’s opening practice sessions in Melbourne, finishing 16th and 18th. It was scarcely better for Ferrari, with Felipe Massa, Hamilton’s title rival last season 10th in the afternoon session and teammate Kimi Raikkonen in 11th.

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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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Asian markets track Wall Street losses

Asian markets slumped Friday, latching onto Wall Street’s bear market slide to levels not seen since 1997. Tokyo’s Nikkei average was off 3.5 percent in afternoon trading and the All Ordinaries index in Australia tumbled 1.2 percent. In Seoul, the KOSPI fell 0.3 percent, while Hong Kong’s Hang Seng index dropped 1.3 percent.

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