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...desperate to cancel their insurance policies and withdraw investments, just in case AIG went belly up, leaving assets held by AIA in limbo. Aee was well aware that the U.S. Federal Reserve had extended an $85 billion lifeline to AIG several hours before. But the news did little to calm his nerves. "I never thought this would happen to AIG," said Aee, shaking his head in amazement...

Author: /time Magazine | Title: Wall Street Meltdown: Global Fallout | 9/17/2008 | See Source »

...placed on high alert, and there is a palpable sense of panic in the capital. For at least an hour after the blasts, phone lines were jammed and traffic slowed to a crawl as people rushed home to safety. Prime Minister Manmohan Singh condemned the blasts and appealed for calm. Police said all the explosions were low intensity, but don't know much about the nature or composition of the bombs. Unconfirmed reports say that bombs were detonated on a bicycle, in a dustbin and in an autorickshaw...

Author: /time Magazine | Title: Five Blasts Put Delhi on High Alert | 9/13/2008 | See Source »

...detect any signs that the left wingers [within the SPD] will be amenable to the change," says Klaus-Peter Schöppner, head of the polling firm Emnid. "Instead I think we are witnessing the calm before the storm." Steinmeier is "hated by the far left of his party," says Schöppner, because he advocated unpopular economic reforms, especially tighter rules on unemployment compensation, under Chancellor Schroeder. Moreover, he will have a hard time challenging Merkel because his specialty has been foreign policy - "an area where Merkel is already stealing all the thunder...

Author: /time Magazine | Title: A Shake-Up in German Politics | 9/8/2008 | See Source »

...There is no doubt that Palin will help calm the doubts of that core Evangelical base and leadership. While many pundits have wondered whether social conservatives will recoil from the news that Palin's 17-year-old daughter is five months pregnant, they're clearly not grasping the mores of that community. If Bristol Palin were the daughter of Democratic parents, she would undoubtedly be held up as an example of the failures of a liberal, permissive culture. Instead, she is viewed - as are the majority of teenage mothers in Evangelical churches - as a Christian who sinned, is forgiven...

Author: /time Magazine | Title: Are Evangelicals Really Sold on Palin? | 9/6/2008 | See Source »

...point source of carbon dioxide. Only a die-hard optimist could talk up such a company, right? Meet Pat Davies, head of South African energy giant Sasol, and listen to him speak about its prospects. "We're coming into a sweet spot, a unique position," he says with a calm, easy smile. "We're in the lead position worldwide in what we do, and there's enormous interest in us right...

Author: /time Magazine | Title: Dirty Little Secret | 9/4/2008 | See Source »

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