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...product of Citibank’s historic 1998 merger with Travelers, an insurance company. The one-time “financial supermarket” was exposed as a bloated, mismanaged basket case by the financial crisis. Today, Citigroup is selling many of its investment and insurance divisions in an effort to reach a more manageable size and return to profitability...

Author: By Anthony P. Dedousis | Title: Too Big to Fail is Too Big | 11/19/2009 | See Source »

Member response to the initiative is divided. “It is disconcerting to see that they are trying to expand membership to anyone who has the cash, but are not making an effort to reach out to the Harvard community at large,” said Joseph S. Evangelista ’96, the former Young Members Committee Chair and member of the club...

Author: By Nora A. Tufano, CONTRIBUTING WRITER | Title: End of the Old Boys Club | 11/19/2009 | See Source »

...presidents and general managers. This is the fourth time the club has been recognized, and members see it as a reason to be optimistic about the club’s future despite its challenges. “We try to provide services to a broad spectrum, and make an effort to appeal to as many people as possible,” General Manager Eric W. Gillberg says. “We are always trying to become stronger and more meaningful to members,” he adds. “We know that this is a very special place...

Author: By Nora A. Tufano, CONTRIBUTING WRITER | Title: End of the Old Boys Club | 11/19/2009 | See Source »

Nowadays, the 136-year-old building betrays few signs of its grim history thanks to a $150 million makeover spearheaded by Mayor Bertrand Delanoë as part of a long-term effort to revitalize Paris' 19th arrondissement. Launched just over a year ago, with high-profile events by fashion giant Alexander McQueen, trip-hop icon Tricky and art-rock legend Lou Reed, the immense 39,000-sq-m space was renovated by architectural firm Atelier Novembre. It boasts artist studios, designer boutiques, a café, a bookshop, a children's area and even a free-standing pizza truck under...

Author: /time Magazine | Title: A Paris Funeral Home Becomes an Art Center | 11/18/2009 | See Source »

...billion copper-mine investment is the country's largest single investment, but the stability of the war-torn region didn't merit a mention in Hu's 20-minute address. Neither did appreciation of China's currency, the renminbi, which Obama called "an essential contribution to the global rebalancing effort." Hu did, however, say that China and the U.S. "need to oppose and reject protectionism in all its manifestations in an even stronger stand," reinforcing China's view that recent U.S. tariffs pose a greater threat to the global economy than an undervalued renminbi, which has helped China prop...

Author: /time Magazine | Title: China: Self-Centered on the World's Center Stage | 11/18/2009 | See Source »

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