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Giving gifts on Facebook is nothing new: since 2007, analysts estimate that users have spent more than $50 million to send virtual presents that are basically online stickers to put on profile pages. Facebook has developed its own currency, worth 10?? per unit, and plans to take a cut as people on the site start buying everything from online games to off-line gifts for every possible occasion. (See five Facebook no-nos for divorcing couples...

Author: /time Magazine | Title: Gift Giving on Facebook Gets Real | 2/15/2010 | See Source »

Schools, roads and airports shut down on Jan. 4 as Beijing suffered its heaviest snowstorm since 1951. Authorities in the Chinese capital dispatched thousands of workers to help clear snow-covered roads, putting them to work in temperatures as low as 10??F (-12°C). More than 30 highways were closed in northern China, and a train in the Inner Mongolia region hit a snowbank 6 ft. (2 m) high, trapping its 1,400 passengers overnight. Other parts of North Asia also experienced unprecedented winter storms; Seoul received 11 ft. (3.3 m) of snow, the most it had seen...

Author: /time Magazine | Title: The World | 1/18/2010 | See Source »

...translates roughly as People's Town. The central square is a traffic island with a Soviet T-34 tank on a pedestal, a World War II memorial. Next to it is a farmers' market, where local babushkas with woolly hats and dodgy teeth sell homegrown carrots and potatoes for 10?? a kilo. But look closer and it's clear that even Lyudinovo isn't frozen in time. An emporium that opened a year ago sells South Korean refrigerators, French yogurt and fake Italian pumps. Several houses are being built on the outskirts--the first new residential construction in more than...

Author: /time Magazine | Title: Russia: The Trouble with Putinomics | 2/5/2009 | See Source »

...banks and other financial-services companies starved for cash by the subprime-credit crises, where they obtain bailout money is less important than the fact that it's available at all. Just ask investors in Citigroup or UBS. The big Swiss bank had to take a $10??billion write-down--it had already taken a $4.4 billion hit--on the value of its "super-senior" subprime portfolio, those formerly top-rated bonds. To restore its capital base, UBS sold $8.9 billion in convertible notes to the Government of Singapore Investment Corp. (GIC) and an additional $1.8 billion...

Author: /time Magazine | Title: Governments Get a SWF Financial Kick | 12/20/2007 | See Source »

Cost for five years of light (at 10?...

Author: /time Magazine | Title: Let There Be Light | 12/6/2007 | See Source »

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