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...price of oil reported in the news is actually the price of oil in the futures market. In this market, traders do not exchange physical barrels of oil, but instead trade contracts which obligate them to exchange oil at a quoted price at a specific date in the future, usually months in advance. Such a contract allows companies to hedge positions by locking in prices early. Airlines might buy futures contracts to reduce their exposure to rising fuel prices. Conversely, oil companies might sell futures contracts to assure a profit against future price drops. It's all about reducing risk...

Author: /time Magazine | Title: Are Oil Prices Rigged? | 8/22/2008 | See Source »

...HSCI scientists have been among the first to practice iPS technology," Daley said. "And HSCI has by far produced the most human iPS lines to date...

Author: By June Q. Wu, CRIMSON STAFF WRITER | Title: Harvard Researchers Create Disease-Specific Cell Lines | 8/18/2008 | See Source »

...passports, which determine Olympic eligibility, He Kexin, Jiang Yuyuan and Yang Yilin are all 16. But Chinese online records and local newspaper articles have presented different information, raising questions about these three gynmasts' true ages. A 2006 biography from the local sports bureau where He was registered gave her date of birth as January 1, 1994, which would make her 14. A story earlier this year in the China Daily, the country's largest English-language newspaper, also reported that she is 14 years old. Another local-level competition roll had the date of birth of Jiang, who is only...

Author: /time Magazine | Title: The Chinese Gymnasts: Age Questions Remain | 8/13/2008 | See Source »

Earlier this year, a 14-year-old table-tennis prodigy in eastern Shandong province told me quite cheerfully that she competes as an 11-year-old in provincial and regional age-ranked competitions. Her national identity card, she said, had been changed to reflect the false birth-date. "It's no big deal," she insisted. "Most of my friends do it, too." Her coach, who hadn't been present when I interviewed the girl, denied any age-fixing at the school, although he said he was quite sure it happened at other academies...

Author: /time Magazine | Title: The Chinese Gymnasts: Age Questions Remain | 8/13/2008 | See Source »

...same Joyce McKinney who is still technically a fugitive from British justice. But confronted by the weight of circumstantial evidence - Joyce McKinney's middle name is Bernann, both are former beauty queens, both owned pitbulls and even appear to share the same social security number, birth date and home address - Bernann McKinney confessed to being a reinvention rather than a clone of her former self. "I thought people would be honest enough to see me as a person who was trying to do something good and not as a celebrity," a tearful McKinney told the Associated Press in a phone...

Author: /time Magazine | Title: Cloner Dogged by Sex Scandal | 8/11/2008 | See Source »

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