Word: globe
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...That, of course, is bad news for the U.S., but it also means the one-two punch of the financial crisis and possible recession could mete out pain around the globe. "Stabilization of the financial markets is a critical first step," said U.S. Fed Chairman Ben Bernanke Wednesday. "But even if they stabilize as we hope they will, broader economic recovery will not happen right away...
...nation's top banks to urge them to extend loans to creditworthy business and households "without delay or additional constraints." Sarkozy pointedly reminded bank presidents that freeing up such funds - a basic necessity for business development and economic growth - was one of the main reasons governments around the globe have pledged trillions of dollars in tax payer money to rescue the financial system in the first place...
Paris, France Wrapped in a brown apron as he greets visitors in a warm, booming voice, François Bonduel owns the kind of Parisian restaurant beloved by tourists and locals alike. But these days - with the euro still relatively strong and economies seizing up around the globe - the foreign visitors that typically make up a third of Bonduel's clientele have been thinning out and spending less. To make matters worse, many French visitors to his restaurant, Au Bon Saint-Pourçain - a stone's throw from the church of St. Sulpice in Paris' tony sixth arrondissement...
...world's markets seem willing to settle for that. After last week's losses wiped between 15% to nearly 25% of value off indices around the globe, formerly freaked traders scurried to buy back stocks as slow-moving political leaders responded in union to address the credit crisis. Outdoing Wall Street's 11% romp on Monday, the Nikkei shot up 14.2% Tuesday - an all-time record - making up for lost time after Monday's national holiday. But other Asian indices continued their previous climbs as well. Hong Kong's Hang Seng was up 3.2% over its 10.5% push Monday, while...
Author Beth Teitell has decided to take on the malady that often afflicts American women: "Fear of looking our age." Teitell, who is 47 ("the youngest I'll ever be again in my life") and writes regularly for the Boston Globe, spent a year exploring the American obsession with youth - the Botox Industrial Complex - for her new book, Drinking Problems at the Fountain of Youth (William Morrow). TIME Reporter Andrea Sachs caught up with Teitell by phone at her home in Boston...