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...start of the modern era was particularly good for Italian and American cinema: Italian films took home the award four times straight, from 1966 to 1972, and twice again in 1977-78. Italian-American heavyweights Martin Scorsese (Taxi Driver, 1976) and Francis Ford Coppola (Apocalypse Now, 1979) took the glory for the U.S. and even Bob Fosse joined in at the start of the 1980s with All That Jazz. But critics would snipe that truly great films (and directors) were being overlooked: there would be no Cannes love for Rainer Werner Fassbinder (Ali: Fear Eats the Soul),Werner Herzog (Every...

Author: /time Magazine | Title: The Palme d'Or | 5/24/2009 | See Source »

...result, most people didn't know what to think when they were suddenly handed a new plastic 10 or 20 cordoba bill, the lowest denominations of Nicaraguan tender and therefore the most commonly used. "This looks like European money," says one taxi driver, in a voice hinting pride, as he twisted and creased the bill in cruel defiance of its seemingly indestructible space-age properties. Others have described it as "play money" or complain that its gloss makes it "slip through my hands...

Author: /time Magazine | Title: For Nicaraguans, New Currency Is a Hot Potato | 5/23/2009 | See Source »

...really nice day. Then you hear a bang. Everyone looks up, and you see people flying through the air.' PETER VON DE VORST, Dutch journalist, after a driver plowed his car into spectators at a royal parade in Holland, killing seven...

Author: /time Magazine | Title: Verbatim | 5/18/2009 | See Source »

None of this means that the recent talk of a turn in the economy is necessarily nonsense. It's just an indication that consumer spending, typically a driver of economic upturns, may well be a drag this time. Personal-consumption expenditures as measured by the Commerce Department's Bureau of Economic Analysis had grown to more than 70% of gross domestic product (GDP) in recent years, well above the 1950s-1990s average of 64%. This was an artifact of the consumer and mortgage credit boom of the 2000s, and economists ranging from Morgan Stanley's Stephen Roach to White House...

Author: /time Magazine | Title: If Consumers Won't Kick-Start the Economy, What Will? | 5/13/2009 | See Source »

...coming from the government may well put public pressure on Calderón to let businesses like restaurants open sooner than the end of the long Cinco de Mayo weekend on Tuesday. With few people on the streets on what is usually a bustling Mexico holiday, businessmen like taxi driver Francisco Diaz are chafing. "I've been driving all day and all I've got to show for it is 60 pesos [$4.60]," says Diaz. "It's like we've protected ourselves healthwise but now we won't survive economically...

Author: /time Magazine | Title: As Swine Flu Eases, Mexicans Ask: Was the Government Lucky or Good? | 5/4/2009 | See Source »

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