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...unveiled by Prime Minister Stephen Harper's minority Conservative government at the end of January 2009. However if the budget is not well received by a parliament calling for strong fiscal support to save Canadian jobs, the government may once again face the possibility of being toppled. Earlier this month the Conservatives narrowly escaped being replaced by a coalition of parties, including the separatist Bloc Quebecois, which wants to cede the province of Quebec from Canadian confederation...

Author: /time Magazine | Title: Canada Faces Recession — and a Political Crisis Too | 12/15/2008 | See Source »

...shroud was lifted, however, Madoff's investment fund stood revealed as a classic Ponzi scheme: a con game in which the illusion of solvency was created by paying off early investors with capital raised from later entrants. As long as new investment continued to come in the door, the earlier adopters reaped fat rewards; once markets tumbled and investors withdrew, however, the whole thing collapsed like a house of cards...

Author: /time Magazine | Title: Ponzi Schemes | 12/15/2008 | See Source »

...television shows that deal openly with homosexuality. In January 2007, the Broadcasting Authority issued a warning to producers of a show called Gay Lovers for presenting a "pro-gay" view. In March, Hong Kong's legislative council panel unanimously passed a motion demanding that the Broadcasting Authority withdraw its earlier ruling. "Non-heterosexuals rarely appear in the media, and when they do, they are portrayed as effeminate, flamboyant, sissies, perverts or AIDS carriers," said Dr. Ching Yau, an associate professor who teaches courses on media and gender studies at Lingnan University...

Author: /time Magazine | Title: A Gay-Pride Revolution in Hong Kong | 12/14/2008 | See Source »

...Europe had previously pledged to reduce its carbon emissions 20% by 2020 - the so-called 20-20-20 plan - and in Brussels on Dec. 12, representatives confirmed that goal. But instead of forcing electric utilities to pay for the right to emit greenhouse gases - as a draft plan from earlier in the year had prescribed - the E.U. bowed to complaints from poorer nations in Eastern Europe, allowing utilities in those countries to continue getting many of their permits for free. (Environmentalists believe forcing utilities to pay for carbon permits accelerates emissions reductions, but utilities complain about the expense.) The pullback...

Author: /time Magazine | Title: All Talk, Little Action, at UN Climate-Change Summit | 12/13/2008 | See Source »

...caretaker regime of technocrats has set about trying to tackle Bangladesh's wretched record of corruption and reform its volatile electoral politics. Results have been mixed, but the government now looks ready to deliver on its promises for free and credible polls - an effort that's not going unnoticed. Earlier this month, U.S. Senator John McCain, the defeated Republican candidate for President, declared on a visit to Dhaka that "this has the possibility of being the fairest election, perhaps, in the entire world...

Author: /time Magazine | Title: Bangladesh: Ready to Vote Again | 12/12/2008 | See Source »

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