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...unusually strong showing for the continent. The European recovery is uneven, though, with Italy and France faring less well. And Germany has only begun to tackle some of the politically unpopular reforms of its health, pension and labor systems that economists say are needed to boost long-term growth. Still, "Europe is going to have a great year," reckons Harvard's Rogoff...

Author: /time Magazine | Title: A Precarious Balance | 1/18/2007 | See Source »

...hasn't hurt that Hong Kong stocks have been on a tear. The benchmark Hang Seng Index repeatedly set new all-time highs in the latter part of 2006, gaining 34% for the year. The rally got a big boost from an influx of investors hoping to cash in on the appreciating yuan by buying shares in mainland companies. The Hang Seng China Enterprises Index, which includes only China stocks, soared...

Author: /time Magazine | Title: Financial Markets | 1/18/2007 | See Source »

Most Estonians, enjoying a boost in living standards, are hoping the boom can continue. But there's at least one caveat: Estonia needs to resolve its labor shortage. "We are running out of people," says Craig Rawlings, president of the American Chamber of Commerce in Tallinn. Still, Estonia has shown that it can improvise. "We're a very small country," says Skype's Tamkivi. "That means we just have to be efficient." So far, they've managed...

Author: /time Magazine | Title: The Power of Positive Memory Loss | 1/11/2007 | See Source »

...report submitted by the board's special investigative committee, headed by Apple directors Al Gore and Jerome York, says Jobs knew about the backdating or recommended favorable dates to boost stock value but says he did not benefit from the two grants he received because he gave up his right to exercise them in 2003. One was for 10 million shares in January 2000, the other for 7.5 million shares. The latter grant was finalized in December 2001 but backdated to October, when the stock was 13% cheaper. "The report seeks to downplay Jobs' involvement and the extent to which...

Author: /time Magazine | Title: How Apple Got Tangled Up with Options | 1/11/2007 | See Source »

...speech announcing plans to boost troop levels in Iraq, George Bush noted that Iraq was about to pass "legislation to share oil revenues among all Iraqis" in order to give the citizens of that country a share in the economy. Indeed, the 33-page draft of that proposed Oil & Gas Law now circulating, if passed as currently written, would end decades of total government control over Iraq's mammoth oil reserves and distribute oil income among all the country's regions - a dramatic change from the past and a potential windfall for Big Oil. But it must first get through...

Author: /time Magazine | Title: A New Oil Plan for Iraq | 1/11/2007 | See Source »

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