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...That was the plan, anyway. But on Aug. 14, British Land, the U.K.'s second-biggest property developer, announced that construction of the building - already dubbed "The Cheesegrater", in honor of Rogers's wedge-shaped design - would likely be delayed, pushing completion back a year to 2012. The firm's motive? With the financial services sector trimming costs amid turmoil in the credit markets, both the demand and rental values for City offices are dwindling. British Land - itself hit by a $1.1 billion loss for the three months to July as the value of its portfolio tumbled - reckons...

Author: /time Magazine | Title: A Renters' Market in London | 8/18/2008 | See Source »

...Aug. 10, a few hours after Michael Phelps won his first gold medal and set his first world record in Beijing, he called his mom. "It seemed quite unusual," Debbie Phelps, who was traveling back to her hotel with daughters Hillary and Whitney after watching Michael's race, told TIME. "He just wanted to hear our voices. I think it was important for him to talk to his mom and sisters at that time...

Author: /time Magazine | Title: How Phelps Made Swimming History | 8/17/2008 | See Source »

They didn't hear from him again until after the 200-m freestyle on Aug. 12. Debbie missed his first call because her phone was buried in her bag. Phelps texted her, letting her know he was trying to reach them. "We were giving him support, letting him know how proud we were and that we stand behind him whatever the outcome might be," said Debbie. Sometimes, apparently, even Olympians just need their mother...

Author: /time Magazine | Title: How Phelps Made Swimming History | 8/17/2008 | See Source »

...fielding dozens of requests from other athletes to have their pictures taken with him. And the Chinese tennis players are meriting their share of attention at home, too. Zheng, who could stroll the streets of the capital unrecognized a couple years ago, now requires a bodyguard. And Li's Aug. 16 upset of Venus Williams has made the highlights reel of Chinese Olympic T.V. In Beijing, it seems these hometown heroes aren't so different from the Williams sisters, after...

Author: /time Magazine | Title: Hometown Heroes Dominate Courts | 8/16/2008 | See Source »

...about three golds at these Games? Assuming he survives his heats, Bolt will run the finals of the 200m on Aug. 20, and the 4x100m relay two days later. What's scary is that Bolt actually considers the 200 his best race. While Michael Phelps owned the first week of these Olympics at the pool, Bolt might dominate the second at the track...

Author: /time Magazine | Title: Bolting to a World Record | 8/16/2008 | See Source »

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