Word: briton
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STOCKHOLM: The third of six Nobel prizes was presented Tuesday to Briton James Mirrlees and American William Vickrey for their work in economic theory. The two men did ground-breaking writing on"asymetric information," a condition which occurs when buyer and seller have differing information about a transaction. The condition has broad implications in analyzing systems from insurance and credit markets to taxation schemes. Mirrlees used the theory to study how high to set income taxes without discouraging workers and investors or encouraging tax evasion. Karl Gustaf Loefgren, a member of the Swedish Academy of Sciences, called...
Next is "The Postman (Il Postino)"--wait, you say, shouldn't that be in the foreign film category? However, "The Postman" was not entered into consideration for best foreign film. (There are conflicting reports as to the reasons behind this: some say that Italy was annoyed that a Briton--Michael Radford--was directing an Italian film. It has been said that since "The Postman" opened in Italy in 1994 it could not be nominated for Best Foreign Film of 1995; however, it opened in the U.S. in 1995 and thus could be nominated for best picture.) Many feel that...
ELIZABETH HURLEY, known chiefly for standing near Briton du jour Hugh Grant in photogenic outfits, is the new face of Estee Lauder. Now she might be able to deflect attention from another part of her anatomy. Hurley wasn't overjoyed when Grant publicly described her breasts as "magnificent, the best pair in London." While she believes in a free press, Hurley says, "I'd often like to censor Hugh Grant...
Singapore authorities are on their way to Germany with an arrest warrant to seek extradition of the young stock trader whose extravagant gamble on the Tokyo market brought down Britain's oldest investment bank. Nicholas Leeson, a Briton who worked in Singapore, fled that country when his bet caused some $1 billion in losses for Baring Brothers & Co., after a drop in the Tokyo market last week. Police pulled him off a plane in Frankfurt last night and are detaining him. An extradition hearing before a judge is expected to take place tomorrow. TIME Bonn bureau chief Bruce Van Voorst...
Founders: Briton Hadden 1898-1929 Henry R. Luce...