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...Asia, though, is waking up to the risks to its growth, and the focus in some governments appears to be shifting from fighting inflation to bolstering economies. In an attempt to stimulate growth and stabilize markets, the People's Bank of China on Monday lowered its key interest rate by 27 basis points to 7.2% - the first cut since 2002. The central bank also reduced reserve requirements for some Chinese banks, a step that could increase lending. Goldman Sachs economist Hong Liang commented that the moves "clearly signaled the central bank's intention to support growth" and "could provide some...

Author: /time Magazine | Title: Wall Street's Woes Hit Asian Markets | 9/16/2008 | See Source »

...real relief to relax and settle back into a regular routine. Someone asked when my next trip was, and I don’t have any plan, no reason to get on an airplane, which has made me so happy. It’s nice to just focus on school and live a normal life.”With Mills and Cross obviously capable of contributing immediately to a Harvard squad that finished sixth nationally last spring, there are high hopes for each on both the individual and team levels.“[Cross] seems pretty enthusiastic about the idea...

Author: By Madeleine I. Shapiro, CRIMSON STAFF WRITER | Title: Cross and Mills Put to the Test at Olympics | 9/16/2008 | See Source »

Korn will focus on developing and standardizing policies regarding scientific research across the University’s schools in an effort “to ease practical impediments to interdisciplinary collaboration,” once he assumes the position Nov. 15, according to yesterday’s announcement...

Author: By Clifford M. Marks, CRIMSON STAFF WRITER | Title: Korn To Be First Vice Provost for Research | 9/16/2008 | See Source »

...They’re not all new, some are repackaged,” Mount said. “Our nuts and bolts—our pre-med and fellowship programs—are the same, but the focus on the different cluster areas are what?...

Author: By Aditi Balakrishna, CRIMSON STAFF WRITER | Title: Mount Assumes Helm of OCS | 9/16/2008 | See Source »

...focus now is on the insurance giant AIG, where fears are that losses in real estate investments will spark a credit-rating downgrade that could lead to the firm's unraveling. On Sunday AIG reportedly asked the Federal Reserve for a $40 billion bridge loan to tide it over. On Monday the firm initially got a special dispensation from the governor of New York, the state that regulates it, to tap $20 billion in capital from its subsidiaries. Then it paid a visit to the Federal Reserve Bank of New York, where President Tim Geithner turned down its loan request...

Author: /time Magazine | Title: Wall Street Feels the Shock Waves: Bad But No Chaos | 9/15/2008 | See Source »

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