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...Rajaratnam, founder of the Galleon Group, and 19 others illegally used secret information about public companies to inform investments that yielded some $60 million in profits over the past several years. The defendants, who also include traders, lawyers and executives at firms such as IBM and McKinsey & Co., now face hefty fines and years behind bars. (Read "Arrests Open a Window on Hedge-Fund Culture...
...past 20 years or more, Japan has successfully sold its superinfectious brand of pop music in other Asian markets. Now the South Koreans want to follow suit. The vocalist Rain - among the TIME 100 in 2006 - remains the international face of K-pop, but a host of other artists are eager to follow in his wake. Their appeal to Western audiences remains niche - Rain himself has struggled to make an impression in the U.S., despite a ton of MTV appearances and onstage backup from the likes of Omarion and Diddy. That leaves Japan as the prime foreign market...
...Thankfully, in the face of mounting bad news on the budget front, Hatoyama is not stubbornly clinging to pledges of fiscal austerity. Major spending cuts have been rendered unrealistic by the current economic climate. Falling real wages and low business investment mean Japan's recovery is fragile. A recent Nikkei newspaper survey showed that 38% of top Japanese executives rated the likelihood of another downturn next year as high or somewhat high. The biggest risk, cited by 69% of respondents, was "the effect of fiscal stimulus measures wearing off." Hatoyama appears to be willing to continue stimulus spending under...
...highest for more than 11 years, and those fathomless repositories of Swiss-ness, the banks, are reeling from their exposure to sub-primes and credit markets. Switzerland's two biggest banks needed multibillion-dollar bailouts - UBS with public money, Credit Suisse with private - and, like bankers everywhere, they face the rage of ordinary people. In August, a civil action by the U.S. Internal Revenue Service forced UBS to reveal the names of thousands of tax-dodging Americans with bulging Swiss accounts. (See pictures of Roger Federer...
Nancy Gibbs' humorous essay really hits the mark on the difficulty women face in choosing their titles and surnames [Oct. 26]. It makes no difference to me whether a woman keeps her name or takes her husband's. I wonder, however, in the interest of consistency, if Gibbs received an engagement ring from her husband. After all, if we can dispense with one outmoded patriarchal tradition, why not dispense with them...