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The extension would mean big bucks for corporate America. And unlike "carryforwards," which can only be realized if a company returns to profitability, carrybacks generate immediate cash, as long as the company has earned money in the past half-decade. The Joint Committee on Taxation recently estimated that the carryback...

Author: /time Magazine | Title: Recession Dividend: A Boom in Corporate Tax Credits | 11/5/2009 | See Source »

Days after ousted Honduran President Manuel Zelaya and interim leader Roberto Micheletti signed a U.S.-brokered accord on Oct. 30, resolution of their long-running standoff was delayed again. Under the deal, the Honduran congress must decide whether to reinstate Zelaya for the remainder of his term; a legislative committee...

Author: /time Magazine | Title: The World | 11/5/2009 | See Source »

Ironically, the rise of Sunni extremist groups like al-Qaeda has brought Clinton's interests - microfinance, education and health care - to the center of national-security policy for the first time. The impetus came not from the State Department but from the military, where counterinsurgency doctrine demanded that social services...

Author: /time Magazine | Title: The State of Hillary: A Mixed Record on the Job | 11/5/2009 | See Source »

The reality, however, is that Pope Benedict XVI and other religious leaders in Europe are swimming against a growing secular tide. A 2008 Gallup poll registered a continued decline in Christian faith across Europe. More than two-thirds of respondents in countries such as Britain, France, the Czech Republic and...

Author: /time Magazine | Title: Will Crucifixes Be Banned in Italian Schools? | 11/5/2009 | See Source »

"Our expectations are modest," says Aung Zaw, editor of the Irrawaddy, an influential Thailand-based magazine on Burma affairs. "We've seen these on-again, off-again discussions many times before with the United Nations and the European Union, among others." Real change, he said, could come only from Than...

Author: /time Magazine | Title: Not-So-Great Expectations for U.S. Diplomats in Burma | 11/4/2009 | See Source »

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