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...Indian banks, finance companies and retailers introduced a Western-style banquet of financial products to the country's rising middle class, whose members began tapping credit cards, consumer loans and installment plans to buy automobiles, washing machines, vacations - all those trappings of upward mobility that the few who could afford them once proudly purchased with cash. The country's central bank estimates that the amount of personal loans held by Indians nearly doubled from 2005 to 2007, to $106 billion; the country's credit-card industry has been growing at an average annual rate of nearly 30%. "There...

Author: /time Magazine | Title: The Wages of Consumerism | 10/2/2008 | See Source »

...North America. For decades, ExxonMobil, ConocoPhillips and British Petroleum had little incentive to sell the trillions of cubic feet of natural gas that shares space beneath the ice with all those oil deposits. Gas is less profitable than oil and much harder to move to market. The majors could afford to wait until the economics of gas were more favorable before embarking on a multibillion-dollar pipeline project. But many Alaskans, accustomed to annual oil royalties, didn't want to wait on gas any longer. Nor did they want the Big Three to own the gas pipeline...

Author: /time Magazine | Title: Palin's Pipeline to Nowhere? | 10/2/2008 | See Source »

...many ways, Big Pharma can't afford not to. Getting drugs to the market has never been more expensive. The price tag for developing a single medication can now top $1 billion, compared with less than $300 million 15 years ago. That rise is due, in large part, to a growing need to produce bigger and bolder breakthroughs as portfolios mature and patents lapse. The market wants fewer "me too" products, instead demanding originality. And drugmakers are working overtime to distinguish themselves: in 2006 the top seven pharmaceutical companies spent twice as much on marketing...

Author: /time Magazine | Title: Roche's Rush | 10/2/2008 | See Source »

...Protecting the football is always a big issue,” Tavani said. “We make no excuses; you can’t afford to turn the ball over maybe more than once against a good football team like Harvard...

Author: By Kevin T. Chen, CONTRIBUTING WRITER | Title: Crimson Treks to Lafayette | 10/2/2008 | See Source »

While most nonconference games serve as tune-ups for conference play, Harvard will indeed have its hands full playing a confident Lafayette team. The Crimson can’t afford to look past Lafayette and ahead into the Ivy race...

Author: By Kevin T. Chen, CONTRIBUTING WRITER | Title: Crimson Treks to Lafayette | 10/2/2008 | See Source »

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