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...Stock-market valuation is an inexact science, and it offers no guarantee that the market will not correct sharply after its big run-up. Indeed, even Cooperman expects the months ahead to be characterized by a trading-range market, with a lot of backing and filling. But in fits and starts, he believes, it will edge higher over the next 12 months. Perhaps it's a mark of these unusual times that such a modestly bullish forecast felt bold; it's another such mark that professional investors are just as skittish about the market as the little...

Author: /time Magazine | Title: Is the Stock Market Cheap or Expensive? | 6/25/2009 | See Source »

...Berlusconi has dismissed the newspaper accounts as "trash" and insisted on forging ahead with his work, including plans for the G-8 summit next month in L'Aquila, the central Italian city that was devastated by an earthquake in April. But allies have begun to question his past behavior and current handling of the crisis. Industry Minister Claudio Scajola, publicly one of Berlusconi's most loyal allies, counseled "more prudence" to the man in charge, though ultimately he blamed the woes on opposition hatchet men. Conservative newspaper editor Giuliano Ferrara, a longtime behind-the-scenes adviser, was less forgiving, writing...

Author: /time Magazine | Title: Berlusconi in Crisis After Allegation of Affair | 6/23/2009 | See Source »

...ailing U.S. economy, the Treasury Department agreed to let 10 large banks begin repaying $68 billion in federal aid they received under the Troubled Asset Relief Program (TARP). Having passed "stress tests," some large firms like Goldman Sachs and JPMorgan Chase are expected to return the bailout money ahead of the original timetable set by the White House...

Author: /time Magazine | Title: The World | 6/22/2009 | See Source »

...quasi-high-speed Acela train is already in use), then the Southeast coast, Florida, the upper Gulf Coast, the Midwest (dubbed the Chicago Hub), Texas (South Central), the Pacific Northwest and California. Of those, U.S. Transportation Secretary Ray LaHood has pointed to California and Florida as being "way ahead of the curve" in terms of preparing for HSR. Florida, for example, already did most of the spade work, including land acquisition and environmental-impact and ridership studies before Bush quashed its first HSR effort five years ago. Californians have approved a $9 billion bond issue to finance an ambitious...

Author: /time Magazine | Title: U.S. Stimulus Puts Bullet Trains on the Fast Track | 6/22/2009 | See Source »

...women's studies at Sun Yat-sen University. But Wang insists that his decision was pragmatic: in Beijing, he could not find a venue unless he changed the title. In Shanghai, conditions were different. "I'm more wise than brave," he told That's Beijing, an English-language publication, ahead of the debut. "In China," he added, "things should be handled Chinesely...

Author: /time Magazine | Title: In China, V Is for The Vagina Monologues | 6/22/2009 | See Source »

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