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...sentimental attachment won't fix the problems the country faces today. A feeble pound should eventually give Britain's depressed exporters a boost, but that might not happen until 2010. Because the downturn is global, most manufacturers expect export orders to fall further in the coming months, according to the British employers' organization, the CBI. In the meantime, British holidaymakers used to vacationing in France or Spain are making plans for breaks closer to home. Outside the Bank of England, which moved to its present central London site in 1734, one oil-industry worker with a fondness for European travel...

Author: /time Magazine | Title: The Proud Pound's Fall from Grace | 1/27/2009 | See Source »

...perception of imminent failure and remove the likelihood that customers will run with their money. It may even boost lending. Of course, the problem with this is that some of these banks might need too much capital - and if the government buys all the common stock needed to fix the problem, it will own the banks, possibly a few times over. So a switch to buying common stock points to nationalization. (See pictures of the top 10 scared traders...

Author: /time Magazine | Title: How to Stop the Banks' Bleeding: No Easy Choices | 1/27/2009 | See Source »

These challenges to addiction orthodoxy come along as scientists and sufferers alike continue to look for a faster fix for substance abuse. New York cardiologist Dr. Olivier Ameisen -who now lives in France but remains a visiting professor at the State University of New York - has authored a new book describing his recovery from alcoholism, which was achieved with the aid of a common drug called baclofen, a muscle-relaxant designed to prevent the spasms behind a range of conditions from hiccups to multiple sclerosis symptoms. The claim is drawing a lot of attention, but it is too soon...

Author: /time Magazine | Title: Battling Addiction: Are 12 Steps Too Many? | 1/27/2009 | See Source »

...manipulation, knows what his job is when it comes to persuading foreigners (whether governments or individuals) to continue to invest in Treasuries. Sources close to the Administration say that thus far he has argued privately that "what the world wants to know, first, is that we are going to fix this [economic and financial] problem and make people confident in the quality of the stewardship of the economy." The world also wants to know, one source close to Geithner says, "that we are going to make sure the U.S. will grow over time and that we will continue...

Author: /time Magazine | Title: Behind Geithner's China-Currency Charge | 1/23/2009 | See Source »

...silver lining of this massive brown cloud is that a boost in those technologies could decrease soot emissions - fast. "We can't fix every environmental problem, but we can make a huge and immediate change by reducing black carbon," says Veerabhadran Ramanathan, Director of the Center for Clouds, Chemistry & Climate at the University of California at San Diego. (Black carbon manifests as soot particles that comprise brown clouds.) While carbon dioxide levels in the atmosphere respond on a sluggish 100-year timescale to reductions in emissions, soot particles, whose effects are equivalent to roughly half the warming damage that carbon...

Author: /time Magazine | Title: Study Gets Inside the World's "Brown Cloud" | 1/23/2009 | See Source »

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