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...past year. Several Spanish homebuilders and construction firms are also struggling. Hetal Mehta, an economist at Ernst & Young in London, says U.K. house prices - which have dropped about 8% from their peak last year - could fall another 10%. Deutsche Bank figures the total drop could be closer to 25% by the end of 2010. Whatever the eventual decline, housing woes are already casting a chill on spending. For example, says Mehta, there has been "a dramatic fall" in sales of household goods such as dishwashers and refrigerators in the past six to eight months because people aren't moving...

Author: /time Magazine | Title: Europe's Economy: Falling Down | 7/9/2008 | See Source »

...deploying it would fall to his successor. Presumptive Republican nominee Arizona Sen. John McCain backs the proposal, while Illinois Sen. Barack Obama, the presumptive Democratic nominee, has been less supportive. What really matters isn't what either does - or what the Russians say - but what the Iranians do. The closer Tehran is believed to having a nuclear weapon, Pentagon officials say, the more inevitable such a Euroshield becomes...

Author: /time Magazine | Title: Moscow Threatens Over Shield | 7/8/2008 | See Source »

...Fresh rating on the movie-review website Rotten Tomatoes - the year's best so far. Audiences have spent $128 million at the box office in WALL-E's first 10 days of release, placing the film seventh so far in 2008, and it is likely to climb closer to the heroes of May - Indiana Jones and Iron Man - as glowing word-of-mouth continues to drive ticket sales. Even though most of Hollywood's Oscar contenders have yet to hit theaters, all that critical and commercial affection is leading awards watchers to ponder: Could WALL-E finally...

Author: /time Magazine | Title: Can WALL-E Win Best Picture? | 7/7/2008 | See Source »

...fifth time, portrait artist Michael J. Deas has created our cover. He does painstaking research into his subjects and takes about 12 weeks to finish a painting. At left, you see the full portrait (on the cover, we crop the image much closer), which shows Deas' obsession with detail, down to one of the fountain pens Twain favored. The pen, made by Conklin Pen Co., originally of Toledo, Ohio, had a ridge on it that prevented the pen from moving. "I prefer it," said Twain in a 1903 endorsement, "because it is a profanity saver; for it cannot roll...

Author: /time Magazine | Title: The Mark of Twain | 7/3/2008 | See Source »

...Which is closer to dying: Osama bin Laden or the CIA's effort to catch him? Nothing has characterized the fruitlessness of the hunt for the al-Qaeda leader so much as the recurrent - and mostly inaccurate - reports that he is seriously ailing, or even at death's door. In 2002, Pakistani President Pervez Musharraf said bin Laden had kidney disease, and that he had required a dialysis machine when he lived in Afghanistan. That same year, the FBI's top counterterrorism official, Dale Watson, said, "I personally think he is probably not with us anymore." Since then, of course...

Author: /time Magazine | Title: Is Osama bin Laden Dying ... Again? | 6/30/2008 | See Source »

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